Kevin J. McCarthy
About Kevin J. McCarthy
Kevin J. McCarthy is Vice President and Assistant Secretary of the Nuveen S&P 500 Buy‑Write Income Fund (BXMX), serving in the Nuveen fund complex officer group since 2007 (year of birth 1966). He is Executive Vice President, Secretary and General Counsel of Nuveen Investments, Inc., and holds parallel senior legal/secretary roles across Nuveen/TIAA adviser and fund entities, indicating deep governance and regulatory expertise suited to a registered investment company complex . As a closed-end fund, BXMX discloses no officer-level pay-for-performance linkage at the Fund; officers are compensated by the Adviser (Nuveen/TIAA), not by BXMX, and the proxy includes no TSR or financial performance attribution to individual officers .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Investments, Inc. | Executive Vice President, Secretary and General Counsel | Not disclosed | Leads legal, governance and regulatory oversight for Nuveen’s public funds/advisers, aligning complex-wide compliance and board processes . |
| Nuveen Securities, LLC | Executive Vice President and Assistant Secretary | Not disclosed | Supports broker-dealer compliance and fund distribution documentation . |
| Nuveen Fund Advisors, LLC (Adviser to BXMX) | Executive Vice President and Assistant Secretary | Not disclosed | Oversees adviser-level governance supporting closed-end fund operations . |
| Nuveen Asset Management, LLC | Executive Vice President and Secretary | Not disclosed | Coordinates legal/secretarial functions for investment manager to funds . |
| Teachers Advisors, LLC; TIAA‑CREF Investment Management, LLC; Nuveen Alternative Investments, LLC | Executive Vice President; General Counsel and Secretary (various) | Not disclosed | Complex-wide legal leadership across TIAA/Nuveen registered products and alternatives . |
| TIAA‑CREF Funds; TIAA‑CREF Life Funds | Executive Vice President, Associate General Counsel and Assistant Secretary | Not disclosed | Fund governance and compliance for open‑end and insurance products . |
| Winslow Capital Management, LLC | Vice President and Secretary | Not disclosed | Legal and governance support to Nuveen affiliate . |
| NWQ Investment Management Company, LLC; Santa Barbara Asset Management, LLC | Former Vice President (2007–2021) and Secretary (2016–2021) | 2007–2021 | Oversight of governance and fund administration for affiliates . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed (outside TIAA/Nuveen ecosystem) | — | — | BXMX proxies list only Nuveen/TIAA complex roles for McCarthy; no separate public company directorships disclosed . |
Fixed Compensation
Officers of the Funds (including Mr. McCarthy) receive no compensation from BXMX; compensation is paid by the Adviser (Nuveen/TIAA). The proxy provides no base salary, bonus, or equity award detail for Fund officers.
| Component | 2024 | 2025 | Notes |
|---|---|---|---|
| Base salary | Not disclosed | Not disclosed | “The Funds have no employees. The officers of the Funds serve without any compensation from the Funds.” Compensation for CCO is paid by Adviser; officers’ comp not itemized at Fund . |
| Target/actual bonus | Not disclosed | Not disclosed | No Fund-level disclosure for officers . |
| Benefits/pension/SERP | Not disclosed | Not disclosed | No Fund-level disclosure for officers . |
Performance Compensation
No Fund-level performance-based pay is disclosed for officers. Incentive structures (if any) would exist at the Adviser and are not included in BXMX proxy materials.
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed at the Fund level for officers | — | — | — | — | — |
Officers’ compensation is paid by the Adviser and not reported in BXMX’s proxy; there are no Fund-level officer incentive metrics disclosed .
Equity Ownership & Alignment
| Item | Value | As of | Source |
|---|---|---|---|
| BXMX total common shares outstanding | 104,165,285 | Feb 18, 2025 | |
| Kevin J. McCarthy – beneficial ownership in BXMX | Not disclosed | — | Individual officer holdings not itemized in proxy |
| Board Members and officers – group ownership in BXMX (shares) | 6,690 | Dec 31, 2024 | |
| Board Members and officers – group as % of BXMX | Less than 1% | Feb 18, 2025 | |
| Shares pledged/hedged (Kevin) | Not disclosed | — | No pledging/hedging disclosure for officers in Fund proxy |
| Stock ownership guidelines | Board members expected to invest ≥1 year of compensation in Nuveen Funds | Policy in effect | Board-level guideline; officer guideline not disclosed |
Notes:
- BXMX does not enumerate individual officer holdings, limiting precision on McCarthy’s “skin-in-the-game” at the Fund level .
- No disclosure of any pledging or hedging by officers in BXMX materials .
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Fund officer title/tenure | Vice President and Assistant Secretary; Length of service since 2007 (officer of Nuveen fund complex) | |
| Employment agreement | Not disclosed at Fund; officers are Adviser personnel | |
| Severance / Change‑of‑control | Not disclosed at Fund; not applicable to Fund officers | |
| Non‑compete / Non‑solicit / Garden leave | Not disclosed | |
| Clawback / Tax gross‑ups | Not disclosed at Fund for officers | |
| Section 16 compliance | Funds report Board Members and officers complied with Section 16(a) filing requirements in last fiscal year | |
| Proxy authority | Named proxy holder for BXMX shareholder meetings (with John M. McCann and Mark L. Winget) |
Performance & Track Record
- Role scope: Senior legal/governance executive across Nuveen/TIAA advisers and fund entities; officer of BXMX since 2007, indicating continuity through multiple board/committee evolutions and governance transitions (e.g., unitary board, committee rotations) .
- Fund officer compensation linkage to performance: None disclosed at Fund level; officers are not paid by BXMX, and no TSR/financial performance metrics are attributed to officers in proxy .
- Stock performance/TSR during tenure: Not disclosed in the proxy; BXMX does not provide officer-specific TSR linkage and the proxy does not include TSR tables for officers .
Governance Context (Fund)
- BXMX is overseen by an independent unitary board with formal committees (Audit; Compliance, Risk Management and Regulatory Oversight; Investment; Dividend; Nominating and Governance; Closed‑End Funds), reflecting robust oversight of valuation, risk, performance, and distributions .
- Officers (including McCarthy) receive no compensation from BXMX; the CCO’s compensation is paid by the Adviser with Board review/input, highlighting separation of management pay from the Fund balance sheet .
Investment Implications
- Pay-for-performance alignment at the Fund level is minimal for officers: McCarthy’s compensation is at the Adviser and not tied (in disclosures) to BXMX performance, reducing direct incentive alignment signals for Fund shareholders .
- Retention risk appears low from Fund disclosures alone: McCarthy’s long tenure (since 2007) and complex-wide senior legal roles suggest institutional continuity; however, specific employment terms, severance, or change‑of‑control economics are not disclosed at the Fund level, limiting visibility into Adviser-level retention incentives .
- Insider trading/vesting overhang cannot be assessed: BXMX does not disclose officer‑specific holdings or vesting schedules; no Form 4 data are presented in the proxy, reducing ability to infer near‑term selling pressure or vesting‑driven trading windows at the Fund level .
- Governance and operational execution rely chiefly on the independent board and Adviser processes: The unitary board and committee structure, plus Adviser‑paid officer model, suggest that performance levers (distribution policy, buy‑write implementation, discount management) are primarily determined by portfolio management and board oversight rather than Fund officer incentives .