Dennis J. DeCore was promoted to managing director of active ETF initiatives by GAMCO Investors.
The position is new, confirmed Christopher J. Marangi, co-chief investment officer, value, in an interview.
Mr. DeCore currently is co-portfolio manager of GAMCO's Comstock Capital Value Fund, a role he will retain, Mr. Marangi said.
Gabelli Funds, a GAMCO subsidiary, recently received approval from the SEC for the investment industry's first non-transparent, actively managed ETF, Precidian Investments ActiveShares, a company news release said.
Gabelli Funds said it expects the new ETF "will be a significant offering to investors in the future," the release said.
GAMCO managed a total of $36.9 billion as of June 30.