Gamco Investors is creating a broker-dealer that will focus solely on distributing the Rye, New York-based firm's mutual funds, and company officials expect the b-d to be up and running by yearend.

As reported by The MFWire.com earlier this week, Gamco appointed Agnes Mullady as president of the open-end funds division and CEO of the currently-in-formation b-d.

"We are going through the registration right now," Doug Jamieson, chief operating officer at Gamco Investors, told The MFWire.com in an interview on Friday.

The name of the b-d and the exact number of people that will staff it have yet to be determined.

"It will not have a large staff," Jamieson said.

Currently, Gabelli's mutual funds are distributed by Gabelli & Company.

"Gabelli & Company is known principally for its institutional research. That's the core of the business and that will remain," Jamieson said. 

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