Peter Goldstein
About Peter Goldstein
Peter Goldstein (born 1953) is Secretary and Vice President of Bancroft Fund Ltd. (BCV), serving since 2020. He is General Counsel of GAMCO Investors, Inc. and Chief Legal Officer of Associated Capital Group, Inc. (since 2021), with prior experience leading legal and compliance at Buckingham Capital Management and The Buckingham Research Group (2012–2020). The proxy does not disclose performance metrics (e.g., TSR, revenue/EBITDA growth) tied to his role; his beneficial ownership in BCV was 0 common shares as of December 31, 2024.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Buckingham Capital Management, Inc. | General Counsel and Chief Compliance Officer | 2012–2020 | Led legal and compliance for asset management platform |
| The Buckingham Research Group, Inc. | Chief Legal Officer and Chief Compliance Officer | 2012–2020 | Oversaw legal and compliance for research/brokerage operations |
External Roles
| Organization | Role | Years |
|---|---|---|
| GAMCO Investors, Inc. | General Counsel | 2021–present |
| Associated Capital Group, Inc. | Chief Legal Officer | 2021–present |
Fixed Compensation
- BCV’s proxy reports compensation for Trustees and “officers, if any, who were compensated by the Fund rather than the Adviser,” and shows no officer compensation paid by the Fund; officers such as the Secretary are employees of affiliated advisers with compensation not disclosed in the Fund’s proxy.
Performance Compensation
- No disclosure of performance-based incentive metrics (e.g., revenue/EBITDA/TSR targets), equity awards (RSUs/PSUs/options), or vesting schedules for officers; the Fund reports only Trustee compensation.
Equity Ownership & Alignment
| Metric | As of Dec 31, 2023 | As of Dec 31, 2024 |
|---|---|---|
| Beneficial ownership (BCV common shares) | 0 | 0 |
| Percent of shares outstanding | <1% (asterisked in proxy) | <1% (asterisked in proxy) |
- No disclosure of pledged shares, ownership guidelines for officers, or hedging policies applicable to officers in the proxy.
Employment Terms
| Item | Detail |
|---|---|
| Current BCV role | Secretary and Vice President |
| Start date in role | Since 2020 |
| Term | Indefinite; officers hold office until resignation/retirement or until a successor is elected and qualified |
| Contract/severance/CoC | Not disclosed in BCV proxy |
Investment Implications
- Alignment: Zero share ownership in BCV suggests limited direct economic alignment with common shareholders; any equity/economic exposure (if any) would be via affiliated entities and is not disclosed at the Fund level. This lowers immediate insider-selling pressure but reduces the pay-for-performance linkage at the BCV entity.
- Retention risk: Tenure since 2020, coupled with senior legal roles at GAMCO and Associated Capital Group since 2021, indicates stability within the Gabelli complex; no fixed-term contract or severance/CoC economics are disclosed that would create event-driven risk.
- Trading signals: The Fund notes Section 16(a) compliance with ownership reporting in the latest proxy and does not show officer transactions or holdings for Goldstein; absence of Form 4 activity and zero holdings implies minimal insider flow-based signals tied to his account.
Overall: For BCV, governance and compensation levers reside primarily at the Board/Adviser level. Goldstein’s role is legal/administrative, with compensation paid by the Adviser and no Fund-level variable pay disclosures—limiting direct, investor-actionable compensation alignment or insider-trading signals from his profile.