Randolph Takian
About Randolph Takian
Independent Trustee and Preferred Share Trustee of abrdn Income Credit Strategies Fund (ACP). Year of birth: 1974; Trustee since 2010, current Class III term expires in 2026. Background includes co-Founder and President of CCS Partners (structured and asset-based credit investment manager), former Head of Banking & Lending for Global Wealth & Investment Management at Bank of America (2019–2023), and prior tenure at Avenue Capital Group (2010–2019). No education details disclosed in the proxy; identified expertise includes product development, marketing, and management experience in the investment management industry.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CCS Partners | Co-Founder and President | Current (not dated) | Structured and asset-based credit expertise relevant to fund strategy oversight |
| Bank of America (Global Wealth & Investment Management) | Head of Banking and Lending | 2019–2023 | Senior lending leadership; credit risk and lending platform oversight |
| Avenue Capital Group | Executive (unspecified role) | 2010–2019 | Distressed/credit investing experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Other public company boards | None | N/A | Proxy lists no other directorships |
| Fund complex oversight | Trustee (ACP only) | Since 2010 | Oversees 1 registrant consisting of 1 portfolio |
Board Governance
- Positions: Independent Trustee (Class III) and Preferred Share Trustee; current term for Class III expires in 2026. The Board has four Independent Trustees and one Interested Trustee (Christian Pittard).
- Committees: Member—Audit Committee; Member—Nominating & Corporate Governance Committee. All committee members are “independent” under NYSE standards.
- Chair roles: Not a chair; Board Chair is P. Gerald Malone (Independent).
- Attendance and engagement (FY ended Oct 31, 2024): Board held 5 meetings; Audit Committee 4; Nominating & Corporate Governance Committee 1; each incumbent Trustee attended at least 75% of aggregate Board and committee meetings. Independent Trustees meet in executive session at least quarterly.
- Shareholder voting—Preferred Shares (2023): Preferred Share Trustee election votes—For: 928,143; Against/Withheld: 110,589 (Randolph Takian).
Fixed Compensation
| Metric | FY 2018 | FY 2024 |
|---|---|---|
| Aggregate compensation from ACP | $21,500 | $80,850 |
| Total compensation from Fund Complex | $21,500 | $80,850 |
Notes:
- Officers receive no compensation from the Fund or Fund Complex for officer duties (context).
- The proxy does not break out cash retainer vs meeting/committee fees for FY 2024.
Performance Compensation
| Component | Disclosure |
|---|---|
| Stock awards (RSUs/PSUs) | None disclosed for Trustees |
| Option awards | None disclosed for Trustees |
| Performance metrics tied to comp | None disclosed for Trustees |
| Clawbacks, severance, CoC terms | Not applicable/not disclosed for Trustees |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None |
| Prior public company boards | Not disclosed |
| Shared directorships with competitors/suppliers/customers | None indicated |
| Private/non-profit/academic boards | Not disclosed for Mr. Takian (others’ affiliations noted elsewhere in proxy) |
Expertise & Qualifications
| Attribute | Evidence |
|---|---|
| Credit and lending | Head of Banking & Lending at BofA GWIM (2019–2023) |
| Structured/asset-based credit | Co-Founder & President, CCS Partners |
| Investment management product development/marketing/management | Board’s skills disclosure cites these as Mr. Takian’s specific contributions |
Equity Ownership
| Item | Value |
|---|---|
| Beneficial ownership in ACP | Dollar range: $10,001–$50,000 (as of Apr 1, 2025) |
| Aggregate ownership across Aberdeen family of funds | Dollar range: $10,001–$50,000 (as of Apr 1, 2025) |
| Shares pledged/hedged | Not disclosed (none indicated) |
| Ownership % | Trustees and officers, in aggregate, owned <1% of ACP outstanding shares (as of Apr 1, 2025) |
| Related-party holdings | None—Independent Trustees and immediate family members did not own shares of the Investment Adviser/Sub-Adviser or entities controlling/controlled by them (as of Apr 1, 2025) |
Insider Trades
| Date | Filing | Security | Transaction Detail |
|---|---|---|---|
| Jun 16, 2021 | Form 4 (Director) | ACP | Insider transaction reported; aggregator shows activity on common and transferable subscription rights on that date (exact share counts per aggregator; verify via SEC) |
| 2018 (date not specified in link) | Form 4 (Director) | ACP | Form 4 filed; Director status noted (use SEC archive for exact transaction details) |
| Profile reference | Aggregator profile | ACP | “Takian Randy – Insider Trading & Ownership” overview page |
Note: Use the SEC EDGAR archive for exact share amounts/prices per filing; aggregator summaries flagged for cross-verification. The 2025 proxy discloses only dollar ranges of holdings, not transaction-level details.
Governance Assessment
- Independence and roles: Mr. Takian is an Independent Trustee and Preferred Share Trustee, serving on both the Audit Committee and Nominating & Corporate Governance Committee; committees are fully independent per NYSE standards—supports strong board independence.
- Attendance and engagement: Board/committee meeting cadence and “≥75% attendance” benchmark met; independent executive sessions at least quarterly indicate active oversight.
- Compensation and alignment: Director pay appears entirely cash-based; aggregate ACP compensation of $80,850 for FY 2024 with no equity awards/options disclosed—typical for closed-end fund boards, but limits performance linkage; personal ACP ownership dollar range ($10,001–$50,000) aligns interests modestly.
- Conflicts and related-party exposure: No other public company directorships; no disclosed related-party transactions; independent trustees (including Mr. Takian) and immediate family members do not own securities of the adviser or sub-adviser—low conflict profile. The fund has one Interested Trustee employed by the adviser (normal in fund structures), with committee independence maintained.
- Shareholder signals: Preferred share trustee vote in 2023 shows strong support (928,143 For vs 110,589 Against/Withheld), indicating investor confidence among preferred holders.
RED FLAGS: None disclosed regarding related-party transactions, option repricing, tax gross-ups, pledging/hedging, or low attendance. Lack of performance-based director compensation is standard for funds but reduces pay-for-performance signaling.