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    Mac Sykes

    Managing Director and Portfolio Manager at Gabelli and Company

    Macrae Sykes is a Managing Director and Portfolio Manager at Gabelli & Company, specializing in financial services with a focus on investment services, brokers, and asset managers. He covers major publicly traded financial companies including Cohen & Steers, TD Ameritrade, Waddell & Reed Financial, and WisdomTree, with a historical stock rating success rate of 50% and an average return of -3.03% per performance tracking platforms. Sykes began his investment career at Donaldson, Lufkin & Jenrette/CSFB, joined Gabelli in 2008 as a research analyst, and has since assumed management responsibilities for the Gabelli Financial Services Opportunities ETF (GABF) and Gabelli Equity Trust (GAB), earning accolades such as #1 investment services analyst by the Wall Street Journal in 2010 and honors from Institutional Investor and StarMine. He holds a BA in economics from Hamilton College, an MBA in finance from Columbia Business School, and is licensed in the industry with FINRA-registered credentials.

    Mac Sykes's questions to AMTD IDEA (AMTD) leadership

    Mac Sykes's questions to AMTD IDEA (AMTD) leadership • Q4 2019

    Question

    Mac Sykes from Gabelli and Company inquired about expected changes to payment for order flow profitability and the competitive threat of short-duration cash ETFs to the company's BDA business.

    Answer

    President & CEO Tim Hockey stated they do not expect any changes in the profitability of payment for order flow, emphasizing their focus remains on best execution. CFO Steve Boyle addressed the cash ETF question, stating they are not a big threat as client cash is primarily transactional and needs to be immediately available for trading.

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