Bradley J. Skapyak
About Bradley J. Skapyak
Bradley J. Skapyak (age 66) is a Class I Independent Trustee of BNY Mellon High Yield Strategies Fund (DHF) who has served on the Board since 2021; he brings over 30 years of investment funds industry experience, including senior operating roles across BNY Mellon’s asset management ecosystem . His prior leadership includes President of the BNY Mellon Family of Funds (2010–2019), COO and Director of The Dreyfus Corporation (2009–2019), CEO and Director of MBSC Securities Corporation (2016–2019), Chairman and Director of Dreyfus Transfer, Inc. (2011–2019), and Senior Vice President of The Bank of New York Mellon (2007–2019) . The Fund states all Trustees (including the Chair) are Independent Trustees under the 1940 Act, indicating his independence from the Investment Adviser at DHF .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BNY Mellon Family of Funds | President | Jan 2010 – May 2019 | Led fund complex; management’s representative to fund boards . |
| The Dreyfus Corporation (predecessor of Investment Adviser) | Chief Operating Officer and Director | Jun 2009 – May 2019 | Oversaw mutual fund administration operations; liaison to fund boards . |
| MBSC Securities Corporation | Chief Executive Officer and Director | Aug 2016 – May 2019 | Distribution leadership within BNY Mellon ecosystem . |
| Dreyfus Transfer, Inc. | Chairman and Director | May 2011 – May 2019 | Oversight of transfer agency services . |
| The Bank of New York Mellon | Senior Vice President | Apr 2007 – May 2019 | Senior leadership role supporting fund administration functions . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Other public company boards (past 5 years) | N/A | — | No other public company directorships disclosed for the past 5 years . |
Board Governance
- Independence and structure: All Trustees (including the Chair) are Independent Trustees under the 1940 Act; Board leadership structure keeps the Chair unaffiliated with the Investment Adviser .
- Committee system: Standing committees include Audit, Nominating, Compensation, and Litigation; Audit Committee consists of all Trustees; the Compensation Committee is comprised of Independent Trustees and excludes Mr. Joseph S. DiMartino (implying Mr. Skapyak serves on Audit and is within the set of Independent Trustees for other committees) .
- Audit Committee engagement: The Audit Committee (including Mr. Skapyak) recommended inclusion of the Fund’s audited financial statements in the Annual Report for the year ended March 31, 2025 .
- Meeting cadence and attendance: In the last fiscal year, the Board held 6 meetings; the Audit Committee 5; the Compensation Committee 1; and the Nominating Committee 1; Litigation did not meet; all Trustees and Board Nominees attended at least 75% of the Board/committee meetings of which they were members .
- Annual meeting attendance: The Fund has no formal policy for Trustee attendance at annual shareholder meetings; Trustees did not attend the prior year’s annual meeting .
Fixed Compensation
- Structure: Trustee pay consists of an annual retainer and meeting fees allocated among BNY Mellon funds based on net assets; the Board Chair receives an additional 25% of such compensation; travel and out-of-pocket expenses are reimbursed; the Fund has no bonus, pension, profit-sharing, or retirement plan for Trustees .
| Period (Fiscal Year End) | Compensation from DHF | Aggregate Compensation from Fund Complex | Portfolios Served |
|---|---|---|---|
| FY 3/31/2025 | $6,620 | $204,700 | 18 |
| FY 3/31/2024 | $6,060 | $205,500 | 21 |
Performance Compensation
- No performance-based compensation, equity awards, or option awards are disclosed for Trustees; the Fund does not maintain bonus, pension, profit-sharing, or retirement plans for Trustees .
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None disclosed for the past five years . |
| Prior public company boards | None disclosed beyond fund complex roles . |
| Interlocks with competitors/suppliers/customers | Not disclosed; the Board and committees are independent of the Investment Adviser . |
Expertise & Qualifications
- Fund governance and operations: Former President of the BNY Mellon Family of Funds and COO of Dreyfus with direct responsibility for board interfaces and administration operations across a large mutual fund complex .
- Audit and financial reporting oversight: Member of DHF’s Audit Committee that engaged with KPMG and recommended inclusion of audited financials in the Annual Report for FY 2025, reflecting familiarity with PCAOB/SEC standards and auditor independence .
- Distribution/transfer agency oversight: Leadership roles at MBSC Securities Corporation and Dreyfus Transfer, Inc. underpin expertise in distribution, transfer agency, and administration controls .
Equity Ownership
| As-of Date | DHF Fund Shares | Aggregate Holdings Across BNY Mellon Family of Funds |
|---|---|---|
| Dec 31, 2024 | $10,001 – $50,000 | Over $100,000 |
| Dec 31, 2023 | None | $50,001 – $100,000 |
- Additional alignment/controls: As of August 22, 2025, none of the Trustees (or immediate family members) owned securities of the Investment Adviser or any entity controlling/controlled by/under common control with the Adviser, mitigating related-party exposure risks .
- Ownership guidelines/pledging/hedging: No trustee stock ownership guidelines, pledging, or hedging disclosures are provided for DHF Trustees .
Governance Assessment
- Strengths:
- Independent status with extensive prior operating experience in fund administration, distribution, and governance is directly relevant to a closed-end fund board’s oversight needs .
- Active Audit Committee participation; the committee met five times in the fiscal year and recommended FY 2025 financials for inclusion, indicating engagement with auditor independence and financial reporting quality .
- Attendance meets the Fund’s threshold (≥75% of applicable meetings) and personal ownership of DHF shares increased by year-end 2024, modestly improving alignment .
- Watch items / potential red flags:
- Trustees did not attend the prior year’s annual meeting of shareholders; while permitted, some investors prefer visible director-shareholder engagement at annual meetings .
- Compensation is entirely cash-based (retainer/meeting fees) with no equity-based alignment for Trustees; alignment is therefore primarily via personal share ownership ranges .
- Historical executive roles at entities affiliated with the Investment Adviser ended in 2019; although the Fund affirms independence, investors may monitor for any perceived historical interlocks; note the Board’s full independence and lack of Adviser security ownership disclosures mitigate this concern .
Overall, Mr. Skapyak appears to be an engaged independent trustee with deep fund operations expertise and active committee involvement, with governance risks largely limited to optics around annual meeting attendance and a standard cash-only director pay structure .