John B. Fisher
About John B. Fisher
John B. Fisher (born May 16, 1956) serves as a Class III Trustee of Federated Hermes Premier Municipal Income Fund (FMN); he began serving in May 2016 and was re-elected in 2024 for a term expiring at the 2027 annual meeting . He is classified as an “Interested” Trustee due to his beneficial ownership of Federated Hermes, Inc. and the executive/officer positions he holds at Federated Hermes and subsidiaries . His background includes senior leadership across Federated Hermes’ advisory, investment management, and sales subsidiaries .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Federated Securities Corp. (Institutional Sales Division) | President and Director | Not disclosed | Senior sales leadership |
| Passport Research Ltd. | President and CEO | Not disclosed | Retail product leadership |
| Federated Services Company | Director and President, Technology | Not disclosed | Technology leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Federated Hermes, Inc. (public company) | Director and Vice President | Current | Parent company executive; interlock with FMN’s adviser |
| Federated Advisory Services Company | President, Director/Trustee and CEO | Current | Advisory leadership |
| Federated Equity Management Company of Pennsylvania | President, Director/Trustee and CEO | Current | Equity management leadership |
| Federated Global Investment Management Corp. | President, Director/Trustee and CEO | Current | Global IM leadership |
| Federated Investment Counseling | President, Director/Trustee and CEO | Current | Advisory leadership |
| Federated Investment Management Company (FMN’s Adviser) | President, Director/Trustee and CEO | Current | Direct interlock with fund’s investment adviser |
| Federated MDTA LLC | President, Director/Trustee and CEO | Current | Advisory leadership |
| Federated Investors Trust Company | Director | Current | Trust company board |
Board Governance
- Independence status: Interested Trustee (not independent) due to ownership/positions with Federated Hermes, Inc. and affiliates .
- Board meeting attendance: The Board met four times in fiscal 2024; each Trustee attended at least 75% of Board and committee meetings. Similarly, in fiscal 2023 the Board met four times and each Trustee attended at least 75% of meetings .
- Committee memberships: Fisher is not listed on the Executive Committee (2024: Donahue, Hough, Walsh; 2025: Donahue, Hough, Reilly, Walsh), Audit Committee (2024: Lally‑Green, Richey, O’Neill, Walsh; 2025: Carson, O’Neill, Reilly, Walsh), or Nominating Committee (comprised of all Independent Trustees; chaired by Walsh) .
- Board leadership: Chairman is independent by regulatory settlement; Audit Committee members are all independent, with O’Neill as Chair and Walsh designated an audit committee financial expert alongside O’Neill .
| Attendance Metric | FY 2023 | FY 2024 |
|---|---|---|
| Board meetings held | 4 | 4 |
| Fisher attendance rate | ≥75% (each Trustee) | ≥75% (each Trustee) |
Fixed Compensation
| Compensation Metric | FY 2023 | FY 2024 |
|---|---|---|
| Aggregate Compensation From Fund ($USD) | $0 | $0 |
| Compensation Metric | CY 2023 | CY 2024 |
|---|---|---|
| Total Compensation From Fund and Federated Hermes Complex ($USD) | $0 | $0 |
Note: Interested Trustees (Fisher, Donahue) report $0 compensation from the Fund and complex in the proxy tables .
Performance Compensation
- The proxy’s director compensation sections present fixed totals and do not disclose any performance-based compensation metrics (e.g., TSR, EBITDA, ESG) for trustees; no stock or option grants are presented for Fisher .
Other Directorships & Interlocks
| Entity | Type | Role | Interlock/Conflict Consideration |
|---|---|---|---|
| Federated Hermes, Inc. | Public company | Director & VP | Parent of FMN’s adviser; executive role indicates affiliated status |
| Federated Investment Management Company | Adviser to FMN | President/CEO | Direct advisory interlock; potential related-party oversight need |
| Federated Investors Trust Company | Financial entity | Director | Affiliate board role |
| Certain Federated Hermes funds | Investment companies | Director/Trustee | Cross‑fund governance network |
Expertise & Qualifications
- Extensive investment management and advisory leadership across Federated Hermes subsidiaries (President/CEO roles) and prior sales/technology leadership experience; qualifies as experienced industry executive rather than independent oversight specialist .
Equity Ownership
| Shares Owned in FMN | As of Jul 31, 2024 | As of Jun 30, 2025 |
|---|---|---|
| Common Shares (beneficial) | 0 (no other officer or Trustee owned shares) | 0 (no other officer or Trustee owned shares) |
| Dollar Range of FMN Shares | As of Jul 31, 2024 | As of Jun 30, 2025 |
|---|---|---|
| Interested Trustee: Fisher | None | None |
| Aggregate Dollar Range in Federated Hermes Family of Investment Companies | As of Dec 31, 2023 | As of Dec 31, 2024 |
|---|---|---|
| Fisher | Over $100,000 | Over $100,000 |
Governance Assessment
- Red flags:
- Not independent; serves as an Interested Trustee with concurrent executive roles at Federated Hermes and direct leadership of FMN’s investment adviser (Federated Investment Management Company), creating intrinsic related‑party exposure .
- No beneficial ownership of FMN shares; board ownership tables indicate Fisher holds none, which weakens direct alignment with FMN’s common shareholders .
- Mitigants:
- Independent Chairman by settlement terms; Audit Committee composed entirely of independent trustees with designated financial experts, and the Audit Committee met seven times in fiscal 2024, indicating active financial oversight .
- Board‑level engagement with shareholder dynamics (e.g., 2024 tender offer and standstill agreement with Saba Capital) suggests responsiveness to investor concerns in the closed‑end fund context .
- Attendance threshold met (≥75%) across FY 2023 and FY 2024 for all trustees, including Fisher .
- Overall implication: Fisher’s executive interlocks with the adviser mean investors should rely on the independent Chairman, independent Audit/Nominating Committees, and documented meeting cadence to assess board effectiveness and guardrails against conflicts. Continued monitoring of related‑party oversight (adviser engagement, fee approvals, valuation controls) and shareholder actions is warranted .