Gamco Investors is seeking to launch a new broker-dealer, MutualFundWire reports. Gdistributors will concentrate on distributing the Rye, New York-based firm’s mutual funds.
The new unit, which is planned to be rolled out on Aug. 1, 2011, will be managed by Agnes Mullady. Gdistributors will take over the distribution of mutual funds from Gabelli & Company.