RYE, N.Y.–(BUSINESS WIRE)–July 22, 2003–Gabelli Asset Management, Inc. (NYSE-GBL) announced that veteran investment banker Thomas H. Mahoney IV has joined Gabelli & Partners, LLC, the firm’salternative investments unit, as Managing Director and Chief Operating Officer.
Mr. Mahoney has 15 years of experience in alternative investment banking, responsible for developing, structuring and globally marketing alternative investment products at such firms as Merrill Lynch & Co., Deutsche Bank, CDC, and PaineWebber Inc. He has assumed day-to-day business responsibility for the Gabelli & Partners alternative investment business, which primarily includes the firm’s hedge fund products. The division was formed in 1999 to build a platform to meet the growing appetite for absolute return portfolios.
“We are delighted to have Tom join Gabelli to further develop our efforts in the alternative marketplace. Tom’s breadth of experience will add value for our clients and shareholders,” said Marc Gabelli, who started the division in 1999 after Gabelli Asset Management Inc.’s IPO on the New York Stock Exchange. “He also brings greater management depth in alternative investments at a time when this sector is becoming increasingly important in the firm’s overall institutional products mix,” he added.
Mr. Mahoney said, “I’m excited by the opportunity to work with one of the great investing franchises in the world at a time when it is moving ahead with a global rollout. Given my experience, I can’t imagine a more perfect fit for me at this time in my career.”
Mr. Mahoney, whose career on Wall Street began in the late 1970’s, is a graduate of Harvard University, and the Wharton School at the University of Pennsylvania where he received his MBA.
Gabelli Asset Management Inc., through its subsidiaries manages approximately $23 billion in assets of mutual funds and closed end funds, partnerships and private advisory accounts.
