Bronwyn Wright
About Bronwyn Wright
Independent Trustee (Class III) of First Trust Senior Floating Rate Income Fund II (FCT) since 2023; born 1971; former Managing Director at Citibank Europe plc and Head of Securities and Fund Services for Citi Ireland overseeing fund services across Ireland, the UK, Luxembourg, Jersey and Cayman; currently serves on Audit, Nominating & Governance, and Valuation committees; nominated for re‑election to a three‑year term expiring at the 2028 annual meeting if held .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Citibank Europe plc | Managing Director; Head of Securities and Fund Services (Citi Ireland) | 2007–2009 | Led trustee, custodian and depositary business across Ireland, UK, Luxembourg, Jersey, Cayman |
| International affiliates of Citibank | Various roles | 1994–2009 | Senior leadership in securities and fund services |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Irish collective investment funds | Independent Director | 2009–present | Multiple Irish fund boards |
| First Trust Global Funds (Ireland) | Director | Present | Open-end umbrella fund representing 55 ETFs and one mutual fund; advised by First Trust Advisors |
| First Trust Global Portfolios Management Limited (Ireland) | Director (resigned) | Prior; resigned Mar 6, 2023 | Manager to First Trust UCITS; resigned board seat (affiliated with First Trust Advisors) |
Board Governance
| Item | Detail |
|---|---|
| Board structure | Unitary board across First Trust open-end, closed-end funds and ETFs; Independent Trustees plus one Interested Trustee (Chairman) |
| Committee assignments | Audit Committee – Member; Nominating & Governance Committee – Member; Valuation Committee – Member |
| Executive/Dividend committees | Not listed as member; Executive Committee members: Bowen, Keith, Kadlec; Dividend Committee members: Keith, Kadlec |
| Independence | Classified as Independent Trustee; also “independent director” under exchange rules |
| Attendance | Each Trustee attended at least 75% of aggregate Board and committee meetings in the last fiscal year |
| Tenure/term | Class III Trustee since 2023; nominated for new three‑year term (to 2028 annual meeting if held) |
| Lead roles context | Lead Independent Trustee: Robert F. Keith; Vice Lead Independent Trustee: Thomas R. Kadlec (context for board leadership) |
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Fixed annual retainer (Independent Trustees) | $285,000 | Effective Jan 1, 2024; allocated across First Trust fund complex |
| Per fund fee – closed-end fund | $7,500 | Annual per closed-end fund |
| Per fund fee – actively managed fund | $2,000 | Annual per actively managed open-end/ETF |
| Per fund fee – target outcome fund | $750 | Annual per target outcome ETF |
| Per fund fee – index fund | $500 | Annual per index ETF |
| Reimbursements | Travel and out-of-pocket | Standard reimbursement |
| FCT compensation (last fiscal year) | $8,643 | Fund-level trustee compensation |
| FTHY compensation (last fiscal year) | $8,666 | Fund-level trustee compensation |
| Total compensation (First Trust fund complex, CY 2024) | $617,975 | Aggregate across funds served by Ms. Wright |
Performance Compensation
| Element | Status | Notes |
|---|---|---|
| Equity grants (RSUs/PSUs) | None disclosed | Trustee comp disclosed as cash and per-fund fees; no equity awards described |
| Options | None disclosed | No options or related terms disclosed for Trustees |
| Performance metrics (TSR, EBITDA, ESG) | Not applicable | No performance-based pay disclosed for Independent Trustees |
| Retirement/pension | None | Funds have no retirement or pension plans |
Other Directorships & Interlocks
| Entity | Nature | Potential Interlock/Conflict Consideration |
|---|---|---|
| First Trust Global Funds (UCITS) | Director of Irish umbrella fund advised by First Trust Advisors | Cross‑platform governance link with Advisor’s UCITS; noted within unitary governance and UCITS context |
| First Trust Global Portfolios Management Limited | Former director (resigned Mar 6, 2023) | Prior board role at affiliate manager; resignation mitigates current direct affiliate governance conflict |
| Other public company boards | None disclosed | Table lists “None” for other trusteeships/directorships in past 5 years (outside First Trust UCITS roles) |
Expertise & Qualifications
- Deep fund services expertise from Citi (custody, trustee, depositary, securities lending, global agency and trust), relevant for Audit and Valuation oversight .
- Experienced independent director across Irish funds since 2009; cross‑jurisdiction perspective for governance .
- Active committee membership (Audit; Nominating & Governance; Valuation), aligning skills to oversight of financial reporting, governance processes, and fair value determinations .
Equity Ownership
| Security | Holdings | Dollar Range |
|---|---|---|
| FCT | 0 shares | $0 |
| FTHY | 0 shares | $0 |
| Aggregate dollar range (all First Trust registered investment companies overseen) | None | No aggregate holdings as of Dec 31, 2024 |
| Ownership guideline | Expected to invest at least one year’s annual retainer within 3 years of becoming Independent Trustee | Policy adopted by Independent Trustees; Ms. Wright appointed in Sep 2023, leaving remaining time for compliance as of Dec 31, 2024 |
Governance Assessment
- Independence and committee engagement: Independent Trustee, serving on Audit, Nominating & Governance, and Valuation committees; attendance ≥75% in last fiscal year, supporting board effectiveness and oversight continuity .
- Cross‑platform interlocks: Current director role at First Trust Global Funds (UCITS) and prior board seat at affiliated manager (resigned Mar 6, 2023) create information flows across First Trust platforms; resignation from the affiliate manager reduces direct conflict risk, but interlock considerations remain for investors tracking Advisor relationships .
- Alignment and ownership: As of Dec 31, 2024, no FCT or FTHY holdings and no aggregate holdings across First Trust complex; policy expects investment equal to one year’s retainer within three years, so alignment may improve as guideline is met over time .
- Board structure and independent leadership context: Unitary board with defined Lead/Vice Lead Independent roles and rotating committee chairs provides governance structure; Ms. Wright is not currently a chair, focusing her contributions through committee membership and fund services expertise .