Nancy Stefani
About Nancy Stefani
Nancy Wiser Stefani (born 1967) is an independent Trustee of Eaton Vance Floating-Rate Income Trust (EFT) since 2022, currently serving a Class I term that expires in 2026 . She has 30+ years of investment management and financial services experience, including governance and operations leadership, and is not an “interested person” under the Investment Company Act, confirming independence .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Wells Fargo Asset Management | Executive Vice President; Global Head of Operations | 2011–2021 | Oversaw operations and governance; chaired UK and Luxembourg legal entities and Luxembourg funds; Treasurer for Wells Fargo Funds (2012–2021) . |
| Registered asset managers (two firms) | Chief Operating Officer; Chief Compliance Officer | Prior to 2011 (not precisely dated) | Oversaw all non-investment activities; compliance leadership . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Rimes Technologies (London) | Corporate Director | Since 2022 | Private data management company; board role . |
| University of Minnesota Foundation | Board of Trustees | Since 2022 | Non-profit trustee . |
| Providence College Business Advisory Board | Board Member | Previously | Non-profit/academic advisory role . |
| Boston Scores | Board Member | Previously | Non-profit role . |
| National Black MBA Advisory Board | Board Member | Previously | Non-profit role . |
Board Governance
- Independence: Noninterested Trustee (not an “interested person” under the 1940 Act) .
- Years of service: Trustee since 2022; Class I term through 2026 .
- Committee memberships (current): Audit; Contract Review; Compliance Reports & Regulatory Matters; Governance .
- Chair roles: None (Audit Committee financial experts are designated as Gorman and Wennerholm; Stefani is a member, not designated expert) .
- Meeting cadence (FY ended May 31, 2024): Board met 8 times; Audit 10; Contract Review 5; Governance 3; Portfolio Mgmt 7; Compliance 8; Closed-End Fund 5 .
- Attendance: Each Trustee attended at least 75% of Board and Committee meetings; none attended the Fund’s 2024 Annual Meeting of Shareholders (also none in 2023) .
- Recent board changes: Chairperson transition in August 2025 following the passing of Mark R. Fetting; Susan J. Sutherland acted as Chair; Scott E. Wennerholm appointed Chairperson on Aug 27, 2025 .
Fixed Compensation
| Component (EFT Board-wide schedule) | Amount (2025 proxy) | Notes |
|---|---|---|
| Annual retainer (noninterested Trustees) | $325,000 | Fund pays pro rata share based on assets . |
| Chairperson of noninterested Trustees | +$150,000 | Additional annual retainer . |
| Committee service | +$82,500 | Additional annual retainer . |
| Four or more Committees | +$15,000 | Additional annual retainer . |
| Committee Chairperson | +$35,000 | Split if co-chairs . |
| Out-of-pocket expenses | Reimbursed | Aggregate $96,845 (calendar 2024) across Trustees . |
| Trustee | Total Compensation from EFT (FY context) | Total Compensation from Fund Complex (calendar) |
|---|---|---|
| Nancy Wiser Stefani | $3,402 (FY ended May 31, 2024 pro rata) | $410,000 (calendar year ended Dec 31, 2024) |
| Nancy A. Wiser | $3,692 (FY ended May 31, 2023 pro rata) | $402,500 (calendar year ended Dec 31, 2023) |
- Deferred Compensation Plan is available; Trustees may elect to defer fees into EV funds; EFT has no pension/retirement plan for Trustees .
Performance Compensation
| Metric Category | Structure | Disclosure |
|---|---|---|
| Performance-based cash bonus | Not applicable | Trustee compensation is fixed retainers/committee fees; no performance-linked bonuses disclosed . |
| Equity awards (RSUs/PSUs/options) | Not applicable | No equity grants to Trustees disclosed; compensation is cash-based with optional fee deferral . |
| Pay-for-performance metrics (TSR, EBITDA, ESG) | Not applicable | No performance metrics tied to Trustee pay disclosed . |
Other Directorships & Interlocks
| Company | Public/Private | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Rimes Technologies | Private | Corporate Director | No related-party transactions disclosed with EFT; Contract Review Committee oversees any conflicts with service providers . |
| Non-profits (UMN Foundation; Providence College; Boston Scores; National Black MBA) | Non-profit | Trustee/Board Member | No conflicts disclosed . |
Expertise & Qualifications
- Operations and governance expertise: Led global operations; chaired legal entities; fund treasurer experience—strong process and oversight credentials .
- Compliance and controls: Former COO/CCO; service on Audit and Compliance committees reinforces risk/compliance oversight capabilities .
- Industry breadth: 30+ years in investment management and financial services; current tech/data governance experience at Rimes .
- Audit Committee financial expert: Not designated (committee experts are Gorman and Wennerholm) .
Equity Ownership
| Category | Amount | Date/Context |
|---|---|---|
| EFT shares held (direct/indirect) | None (no other Trustee held EFT shares as of date) | As of Dec 30, 2024 . |
| Aggregate dollar range in EV fund complex | Over $100,000 | As of Dec 30, 2024 . |
| Section 16(a) compliance | All Trustees/officers compliant | As of most recent fiscal year per 2025 proxy . |
Governance Assessment
- Strengths: Independent director with deep operations/compliance background; active on Audit, Compliance, Governance, and Contract Review committees; Board and committee attendance at or above 75% demonstrates engagement .
- Alignment: Holds over $100,000 across the EV fund complex, but no direct ownership of EFT, which may modestly weaken fund-specific alignment versus aggregate complex exposure .
- Pay structure: Cash-based retainer/committee fees; no performance-linked components—typical for registered fund trustees and reduces incentives for short-termism; optional fee deferral aligns with fund performance .
- Watch items: Trustees did not attend the 2024 (and 2023) Annual Meetings (common in fund boards but noted); not designated as audit committee financial expert; monitor any potential vendor interlocks (e.g., Rimes) via Contract Review Committee oversight; no related-party transactions disclosed and Section 16 compliance reported .