Brett Black
About Brett Black
Brett E. Black (year of birth: 1972) serves as Vice President and Chief Compliance Officer (CCO) of Nuveen Core Equity Alpha Fund (JCE), with service since 2022. He is a Managing Director and CCO at Nuveen; previously, he was Vice President, CCO, and Anti-Money Laundering CCO at BMO Funds, Inc. from 2014–2022 . Officers receive no compensation directly from the Fund; the CCO’s compensation (base salary and incentive) is paid by the Adviser, with Board review and partial reimbursement by the Fund for the Adviser’s cost of the CCO’s incentive compensation . The Compliance Committee meets quarterly, receives written and oral reports from the CCO, and holds private sessions with the CCO each quarter; the CCO also delivers an annual compliance program report to the full Board .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BMO Funds, Inc. | Vice President; Chief Compliance Officer; Anti-Money Laundering CCO | 2014–2022 | Led fund compliance and AML programs; foundation for current CCO responsibilities |
| Nuveen | Managing Director; Chief Compliance Officer | 2022–present | Provides compliance reporting to Board committees; quarterly private sessions and annual program reporting |
External Roles
No external directorships or board roles were identified for Brett Black in the Fund’s proxy disclosures; officer biographies list principal occupations only .
Fixed Compensation
- Officers receive no compensation from the Fund; JCE has no employees .
- CCO compensation is composed of base salary and incentive compensation, paid by the Adviser (Nuveen). The Board provides review and input, and the Fund reimburses the Adviser for an allocable portion of the Adviser’s cost of the CCO’s incentive compensation .
| Component | Payor/Structure | Board/Fund Involvement |
|---|---|---|
| Base Salary | Paid by Adviser; part of CCO compensation | Board provides review/input |
| Incentive Compensation | Paid by Adviser; Fund reimburses portion of Adviser’s cost | Board provides review/input; reimbursement mechanism |
| Direct Fund Pay | None (officers receive no compensation from the Fund) | N/A |
Performance Compensation
- The existence of incentive compensation for the CCO is disclosed, but specific performance metrics, weightings, targets, and payout formulas are not specified in the proxy materials .
- Compliance oversight structure indicates the CCO’s responsibilities include quarterly reporting and private sessions with the Compliance Committee, and an annual compliance program report to the full Board .
Equity Ownership & Alignment
| Item | Value | As-of Date | Source |
|---|---|---|---|
| JCE shares beneficially owned by Board Members and Officers as a Group | 0 | Dec 31, 2024 | Proxy A-2 table |
| Individual holdings for Brett Black | Not disclosed; officer-level individual positions not itemized | Dec 31, 2024 | Proxy A-2 table notes group totals |
| Shares pledged as collateral | Not disclosed | — | Proxy materials reviewed |
| Officer Form 3/4 filings | No Brett Black filing appeared in the fund documents catalog; other officers filed Form 3 with “No securities are beneficially owned.” Examples: Suschko (Form 3) , Cardella (Form 3) , Page (Form 3) |
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Position | Vice President and Chief Compliance Officer (Officer of the Fund) | DEF 14A |
| Term of Office | Indefinite; officers elected annually by the Board | DEF 14A |
| Length of Service | Since 2022 | DEF 14A |
| Compensation Governance | CCO compensation paid by Adviser; Board review/input; Fund reimburses portion of Adviser’s cost of incentive compensation | DEF 14A |
| Compliance Oversight Interface | Quarterly Compliance Committee meetings with private sessions with the CCO; annual CCO report to the full Board | DEF 14A; N-2/A |
| Severance/Change-of-Control | Not disclosed in proxy materials | — |
| Non-compete/Non-solicit/Garden leave | Not disclosed in proxy materials | — |
Investment Implications
- Alignment: The CCO’s pay is set and paid by the Adviser, not the Fund, with no disclosed fund-specific performance metrics (e.g., NAV total return, premium/discount) tied to compensation. This suggests limited direct pay-for-performance linkage to JCE outcomes absent further disclosure .
- Insider selling pressure: We did not locate Form 3/4 filings for Brett Black; other JCE officers’ Form 3s reported “No securities are beneficially owned,” and the group beneficial ownership in JCE was 0 as of 12/31/2024—implying minimal near-term selling pressure from officers .
- Retention and governance: Officers have indefinite terms with annual Board election; the Board-CCO interface is frequent (quarterly and annually), indicating ongoing oversight. No severance or change-of-control economics were disclosed, leaving retention-risk economics indeterminate; governance relies on Board oversight through the Compliance Committee and broader Board processes .
- Trading signals: With no disclosed personal holdings or equity award schedules for Brett Black, traditional insider-trading or vesting-related signals are unavailable; monitoring future Form 3/4 filings remains the primary trigger path .
Note: JCE is a closed-end fund; its officers do not receive compensation from the Fund, and officer-level equity/grant disclosures (RSUs/Options/PSUs) typical of operating companies are not present in JCE’s proxy materials .