Gabelli Equity Trust Expands its Investment Team

GAMCO Investors said it has hired Kevin V. Dreyer and Christopher J. Marangi to join investment team of its subsidiary, the Gabelli Equity Trust, effective July 1, 2013. Also, Zahid Siddique, who is currently associate portfolio manager at Gabelli Equity Trust, will be moving to Dubai, where he will launch his own firm. Based in Rye, NY, the Gabelli Equity Trust is an investment company.

PRESS RELEASE

RYE, N.Y.–(BUSINESS WIRE)–GAMCO Investors, Inc., (NYSE: GBL) announced the appointment of Kevin V. Dreyer and Christopher J. Marangi to the investment team of the Gabelli Equity Trust (the “Fund”) effective July 1, 2013, coincident with the departure of Zahid Siddique. Messrs. Dreyer and Marangi join Mario J. Gabelli, who has been the portfolio manager of the Fund since its launch on August 21,1986.
Commenting on the appointments, Mr. Gabelli said, “We are delighted to have Kevin and Chris join the Equity Trust team. Kevin and Chris have an excellent foundation in Graham & Dodd fundamental research that has served a number of our funds well.”
Mr. Dreyer joined G.research, Inc. in 2005 as a research analyst covering companies within the consumer sector. Mr. Dreyer now is a Global Research Coordinator. He has been the Associate Portfolio Manager of the GAMCO Global Opportunity Fund since 2006; the Gabelli Healthcare & WellnessRx Trust since 2007; The Gabelli Asset Fund since 2009; and a Co-Portfolio Manager of the Gabelli SRI Fund since 2011 and the Gabelli Dividend & Income Trust since 2012. Mr. Dreyer received a BSE from the University of Pennsylvania and an MBA from Columbia Business School. He previously worked as an investment banking analyst at Banc of America Securities following his graduation from the University of Pennsylvania.
Mr. Marangi joined G.research, Inc. in 2003 as a research analyst and currently is a Global Research Coordinator. He has been the Associate Portfolio Manager of the Gabelli Value Fund since 2006; the Gabelli Multimedia Trust since 2010; The Gabelli Asset Fund since 2010; and a Co-Portfolio Manager of the Gabelli SRI Fund since 2011 and the Gabelli Dividend & Income Trust since 2012. Mr. Marangi graduated magna cum laude and Phi Beta Kappa with a BA in Political Economy from Williams College, and holds an MBA with honors from Columbia Business School. He was previously an investment banking analyst at J.P. Morgan & Co. and an Associate at Wellspring Capital Management, a private equity firm.
Zahid Siddique, Associate Portfolio Manager of the Fund, will be moving to Dubai, where he will launch his own firm that will focus on asset gathering and wealth management activities in the Middle East and other emerging markets.
The Gabelli Equity Trust Inc. is a non-diversified, closed-end management investment company with $1.5 billion in total net assets whose primary investment objective is long-term growth of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL), which is a publicly traded NYSE listed company.