Nancy Wiser Stefani
About Nancy Wiser Stefani
Independent Trustee of Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG) since 2022; Class I term expiring at the 2025 Annual Meeting. Born in 1967, she has 30+ years in investment management and financial services, including serving as Executive Vice President and Global Head of Operations at Wells Fargo Asset Management from 2011–2021, chairing WFAM UK and Luxembourg legal entities and Luxembourg funds, and serving as Treasurer of the Wells Fargo Funds from 2012–2021. She is currently a corporate Director at Rimes Technologies (since 2022) and a Trustee of the University of Minnesota Foundation (since 2022). The Board identifies her as a noninterested (independent) Trustee under the Investment Company Act of 1940 .
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 WFAM UK & Luxembourg legal entities and Luxembourg funds |
| Wells Fargo Funds | Treasurer | 2012–2021 | Led fund treasury functions; governance responsibilities |
| Two registered asset management companies | Chief Operating Officer; Chief Compliance Officer | Prior to 2011 (dates not specified) | Oversaw non‑investment activities; compliance leadership |
External Roles
| Organization | Role | Type | Start/Status |
|---|---|---|---|
| Rimes Technologies | Corporate Director | Private company (data management) | Since 2022 |
| University of Minnesota Foundation | Board of Trustees | Non-profit | Since 2022 |
| Providence College Business Advisory Board | Board member | Non-profit | Previously (dates not disclosed) |
| Boston Scores | Board member | Non-profit | Previously (dates not disclosed) |
| National Black MBA Advisory Board | Board member | Non-profit | Previously (dates not disclosed) |
Board Governance
| Committee | Role | Chair? | FY2024 Meetings | Attendance Disclosure | Independence |
|---|---|---|---|---|---|
| Audit Committee | Member | No (Chair: Scott E. Wennerholm) | 10 | Each Trustee attended ≥75% of Board/Committee meetings; none attended the Funds’ 2024 Annual Meeting | Noninterested Trustee under 1940 Act |
| Compliance Reports & Regulatory Matters Committee | Member | No (Chair: Susan J. Sutherland) | 8 | Each Trustee attended ≥75% of Board/Committee meetings | Noninterested Trustee |
| Contract Review Committee | Member | No (Chair: Mark R. Fetting) | 5 | Each Trustee attended ≥75% of Board/Committee meetings | Noninterested Trustee |
| Governance Committee | Member | No (Chair: Valerie A. Mosley) | 4 | Each Trustee attended ≥75% of Board/Committee meetings | Noninterested Trustee |
- The Board is composed entirely of noninterested Trustees and holds six regular meetings per year plus specials; FY2024 Boards met nine times .
- None of the Trustees attended the Funds’ 2024 Annual Meeting of Shareholders (not necessarily unusual for closed‑end funds, but noted for completeness) .
Fixed Compensation
Compensation structure (Board-wide schedule; funds pay pro‑rata by average net assets):
| Component | Amount | Notes |
|---|---|---|
| Annual retainer | $325,000 | Paid pro‑rata by each fund in complex |
| Chairperson of noninterested Trustees | +$150,000 | Not applicable to Stefani (not Chair) |
| Committee Service | +$82,500 | Pro‑rata; applies to all committee members |
| Four or more committees | +$15,000 | Additional retainer if serving on ≥4 committees |
| Committee Chair | +$35,000 | Split if Co‑Chairs; Stefani is not a chair |
| Out-of-pocket expenses | Reimbursed | Aggregate reimbursed $96,845 for calendar 2024 (Board-wide) |
Nancy Wiser Stefani – actual compensation by fund (FY ended Oct 31, 2024; calendar 2024 total across the fund complex):
| Fund | FY2024 Trustee Compensation (USD) |
|---|---|
| Eaton Vance Senior Floating-Rate Trust (EFR) | $3,413 |
| Eaton Vance Tax-Advantaged Dividend Income Fund (EVT) | $10,280 |
| Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) | $10,280 |
| Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) | $10,280 |
| Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG) | $10,280 |
| Total Compensation from Fund Complex (calendar 2024) | $410,000 |
Trend: Her total compensation rose from $402,500 (calendar 2023) to $410,000 (calendar 2024) alongside a schedule increase in the annual retainer from $315,000 to $325,000 .
Performance Compensation
| Element | Disclosure |
|---|---|
| Stock awards (RSUs/PSUs) | None disclosed; Trustee pay consists of retainers and committee fees |
| Option awards | None disclosed |
| Performance metrics tied to compensation | None disclosed for Trustees |
| Deferred compensation plan | Trustees may elect to defer fees into EV fund share equivalents; no pension/retirement plan for Trustees |
| Clawback provisions | Not disclosed for Trustee compensation |
Other Directorships & Interlocks
| Organization | Type | Role | Notes |
|---|---|---|---|
| Rimes Technologies | Private | Corporate Director | Since 2022; data management company in London |
| “Other Directorships held during last five years” (proxy table) | — | None | Table lists “None” for Stefani; Rimes role highlighted in narrative section (non‑public) |
- No related-party transactions involving Ms. Stefani are disclosed in the proxy; the Contract Review Committee, of which she is a member, explicitly oversees service provider conflicts and related matters .
Expertise & Qualifications
- 30+ years in asset management operations and governance (WFAM Global Head of Operations) .
- Board governance experience (chaired UK/Luxembourg asset management boards; Treasurer of Wells Fargo Funds) .
- Compliance leadership (former COO/CCO roles at registered asset management companies) .
- Current data management oversight experience (Director at Rimes Technologies) .
Equity Ownership
| Item | Value |
|---|---|
| EXG shares beneficially owned (as of May 27, 2025) | None; only Mr. Quinton held EXG in the $50,001–$100,000 range; no other Trustee held EXG |
| Aggregate dollar range in Eaton Vance family of funds overseen | Over $100,000 (Stefani) |
| Ownership guidelines; pledged/hedged shares | Not disclosed for Trustees |
Governance Assessment
- Strengths: Independent Trustee under the 1940 Act; broad committee coverage (Audit, Compliance/Regulatory, Contract Review, Governance) with strong risk/compliance oversight; robust operations/governance background (WFAM), which is accretive to board effectiveness for a closed‑end fund complex .
- Alignment: Aggregate EV fund holdings over $100,000 indicate personal financial exposure to the broader complex; however, no direct EXG holdings as of May 27, 2025 may modestly weaken alignment to EXG specifically .
- Compensation structure: Cash-heavy retainer/committee fees; no performance linkage nor equity grants typical for fund trustees; incremental increase YoY consistent with schedule update (retainer $315k→$325k) .
- Engagement: Each Trustee met the ≥75% attendance threshold across Board/Committee meetings; note that none attended the 2024 Annual Meeting of Shareholders (disclosure transparency, but could be perceived negatively by some investors) .
- Conflicts: No related-party transactions disclosed for Ms. Stefani; she sits on the Committee explicitly tasked with identifying and mitigating fund/service-provider conflicts. External role at Rimes Technologies presents minimal apparent conflict given lack of disclosed transactions; monitor for any vendor relationships with EV funds as a precaution .
RED FLAGS
- No direct EXG share ownership (alignment consideration) .
- Trustees did not attend the 2024 Annual Meeting of Shareholders (optics/engagement) .