RYE, N.Y.--(BUSINESS WIRE)--G.research, LLC, a subsidiary of Associated Capital Group, (NYSE: AC), announced today that Vincent M. Amabile, a 16 year veteran, has been named President of G.research, LLC and will become a board member of Morgan Group Holding Co. (OTC: MGHL) with the merger of the two companies. Cornelius V. McGinity has been elevated to the Office of the Chairman of the Company. G.research provides institutional research and trade execution services to hedge funds, mutual funds and other institutional money managers.
Vincent Amabile, a Manhattan resident and graduate of Fairfield University, joined the trading desk of G.research in 2003. Previously, he worked for Herzog Heine Geduld and Merrill Lynch as an equity trader. In his new role, Mr. Amabile will be responsible for all of the firm’s institutional research sales and trading initiatives, and will lead the firm’s effort to expand the company’s client base.
Mr. McGinity has been President of G.research since 2012. Previously he was a Managing Director, Institutional Sales at Knight Capital Group for fifteen years. Prior to joining Knight, he was an institutional sales trader at Cantor Fitzgerald from 1994-1997; and an equity trader with several wire houses, including Merrill Lynch and Smith Barney. A native of Long Island, New York, Mr. McGinity is a graduate of Villanova University.
In May, the Board of Associated Capital Group formed a special committee to negotiate a transaction between G.research and Morgan Group Holding Co. The transaction remains subject to regulatory approvals and finalizing other conditions for closing. We cannot assure that a transaction will be consummated.
About Associated Capital Group, Inc.
The Company operates its investment management business via Gabelli & Company Investment Advisers, Inc. (“GCIA” f/k/a Gabelli Securities, Inc.), its 100% owned subsidiary. GCIA and its wholly-owned subsidiary, Gabelli & Partners, collectively serve as general partners or investment managers to investment funds including limited partnerships, offshore companies and separate accounts. The Company primarily manages assets in equity event-driven strategies, across a range of risk and event arbitrage portfolios and earns management and incentive fees from its advisory activities. GCIA is registered with the Securities and Exchange Commission as an investment advisor under the Investment Advisers Act of 1940, as amended.
The Company operates its institutional research services business through G.research, LLC, an indirect wholly-owned subsidiary of the Company. G.research is a broker-dealer registered under the Securities Exchange Act of 1934, as amended, that provides institutional research services and acts as an underwriter.
The Company also derives investment income/(loss) from proprietary trading of assets awaiting deployment in its operating businesses.
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