Calgary Avansino
About Calgary Avansino
Calgary Avansino (born 1975) is an Independent Trustee of The Gabelli Global Small and Mid Cap Value Trust (GGZ) since March 25, 2021; her current term continues until the 2027 Annual Meeting if not otherwise changed by election . She graduated from Georgetown University in 1998 (English Literature, minor in Women’s Studies) and Cate Preparatory School in 1993; her background spans digital media, fashion, and wellness, including CEO of Glamcam (2018–2020), Executive Fashion Director & Digital Project Director at British Vogue (2009–2013), and author/speaker on nutrition and wellness .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Glamcam | Chief Executive Officer | 2018–2020 | Led social commerce app focused on Gen Z |
| British Vogue | Executive Fashion Director & Digital Project Director | 2009–2013 | Digital projects and editorial leadership |
| Vogue (Contributing Editor) | Contributing Editor | Began 2014 | Launched wellness company; published “Keep It Real” (2016); public speaking on wellness |
| Author/Speaker | Author of “Keep It Real” | Published 2016 | Nutrition book, website launch, wellness speaking |
External Roles
| Organization | Role | Start Year | Notes |
|---|---|---|---|
| Cate School | Trustee | 2017 | Board of Trustees |
| E.L. Wiegand Foundation | Trustee | 2018 | Board of Trustees |
| Common Sense Media | Advisory Council Member | 2019 | Advisory Council |
Board Governance
- Independence: Listed as an Independent Trustee under the 1940 Act, with a disclosed familial tie—Ms. Avansino is the daughter of Raymond C. Avansino, Jr., a Director of GAMCO Investors, Inc., the parent of GGZ’s Adviser; the proxy flags “possible exceptions” to independence for certain relationships .
- Committee assignments: Audit Committee members in 2024/2025 were John Birch (Chair), Frank J. Fahrenkopf, Jr., and Salvatore J. Zizza; Nominating Committee members were James P. Conn (Chair), Anthony S. Colavita, and Salvatore J. Zizza—Ms. Avansino is not listed on these committees .
- Attendance: Board met 4 times in 2024 and 2023; each Trustee then serving attended at least 75% of Board and applicable committee meetings .
- Annual meeting attendance: The Fund does not expect Trustees to attend annual meetings; no Trustee or nominee attended the May 13, 2024 or May 22, 2023 annual meetings .
- Oversight scope: The Board’s risk oversight includes valuation policies, compliance reporting, and engagement with PwC; Audit Charter last reviewed Feb 13, 2025 .
- Fund complex oversight: Ms. Avansino oversees 5 portfolios in the Fund Complex .
Fixed Compensation
Fee schedule for Independent Trustees (and certain Interested Trustees):
- Annual retainer: $3,000 .
- Per Board meeting: $1,000 .
- Committee meeting fee: $500; Audit Chair $2,000 annually; Nominating Chair $1,000 annually; Lead Independent Trustee $1,000 annually .
Actual compensation received:
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Aggregate Compensation from GGZ (USD) | $7,000 | $7,000 |
| Aggregate Compensation from Fund Complex (USD) | $53,000 | $52,000 |
| Number of Funds/Portfolios in Complex (count) | 5 | 5 |
Notes:
- The compensation table confirms cash-only fees; no stock or option awards are reported for Trustees .
- Aggregate remuneration across Trustees for FY 2024 was $56,000; Board met 4 times in FY 2024 .
Performance Compensation
- No performance-based elements (bonus, RSUs/PSUs, option awards, performance metrics, or severance/CIC provisions) are disclosed for Independent Trustees; compensation is limited to cash retainer and meeting fees per policy .
Other Directorships & Interlocks
| Entity | Relationship | Nature | Potential Governance Implication |
|---|---|---|---|
| GAMCO Investors, Inc. | Familial tie | Ms. Avansino’s father, Raymond C. Avansino, Jr., is a Director of GAMCO (parent of Adviser) | Potential perceived conflict or independence exception under fund governance; disclosed in proxy |
| Fund Complex Boards | Oversight | Oversees 5 portfolios in Gabelli Fund Complex | Multi-fund oversight; not itself a conflict |
No other public company directorships are disclosed for Ms. Avansino outside the fund complex .
Expertise & Qualifications
- Education: Georgetown University ’98 (English Literature; Women’s Studies minor); Cate Preparatory ’93 .
- Domain expertise: Digital media, social commerce, wellness editorial/author roles .
- Financial/audit designation: Not on Audit Committee; Audit Committee Financial Expert designation is held by Mr. Zizza (not Ms. Avansino) .
Equity Ownership
| Metric | Value |
|---|---|
| Common Shares Beneficially Owned | 0 |
| Percent of Shares Outstanding | Less than 1% (“*”) |
| Dollar Range in GGZ | A. None |
| Aggregate Dollar Range in Fund Complex | A. None |
All values as of December 31, 2024 .
Governance Assessment
- Independence and conflicts: While classified as Independent, the familial relationship to a director of GAMCO (the Adviser’s parent) is a governance sensitivity that could affect perceptions of independence; the proxy expressly discloses this as a “possible exception” .
- Ownership alignment: Zero share ownership and “A. None” dollar range suggest limited personal economic alignment with GGZ shareholders .
- Engagement: Documented attendance of at least 75% at Board/committee meetings and consistent quarterly meetings support baseline engagement standards .
- Committee influence: Not serving on Audit or Nominating reduces direct influence on financial reporting oversight and trustee selection; Audit Committee was chaired by Birch with Zizza as financial expert in 2024/2025 .
- RED FLAGS:
- Familial tie to GAMCO board (adviser’s parent) may create perceived independence risks despite formal classification; monitor any related-party interactions or changes in committee assignments .
- No share ownership diminishes “skin-in-the-game” alignment relative to best-practice guidelines often favored by institutional investors .
Overall signal: Compensation structure is low and cash-only (no equity or performance pay), which limits pay-for-performance concerns but also limits ownership alignment. The disclosed familial interlock warrants ongoing monitoring for independence and potential related-party exposure, even as attendance and board processes appear consistent with fund governance norms .