Alan Heuberger, a portfolio manager for Bill Gates' investment firm, has joined the board of Gabelli Asset Management.

Heuberger is a manager at William H. Gates III investment group, which manages Bill Gates' personal money through Cascade Investments and for the Bill & Melinda Gates Foundation.

Bruce Alpert, chief operating officer of Gabelli, was not able to return a call before deadline.

According to the Gabelli website, directors are nominated by a nominating committee of at least two directors of the board.

At the last annual shareholder meeting on May 11, shareholders voted to elect the following directors to the Gabelli board until 2005: Edwin Artzt, Raymond Avansino, Jr., John Ferrara, John Gabelli, Mario Gabelli, Robert Prather, Jr., Karl Otto Pohl, Frederic Salerno, and Vincent Tese.

In early August, Gates agreed to push back the exercise date of a $100 million, 10-year convertible note worth approximately six percent of Gabelli to April 1, 2005. Gabelli and Gates originally entered into the agreement in 2001. 

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