Joanne Medero
About Joanne T. Medero
Independent trustee of Nuveen Core Equity Alpha Fund (JCE) since 2021; Class III term through the 2027 annual meeting. Born 1954; J.D. (George Washington University Law School, 1978) and B.A. (St. Lawrence University, 1975). Three-decade career spanning CFTC General Counsel, Wall Street general counsel and policy leadership, and senior public-policy roles at BlackRock/Barclays, with deep expertise in derivatives regulation, fund governance, and regulatory affairs .
Past Roles
| Organization | Role | Tenure/Years | Committees/Impact |
|---|---|---|---|
| BlackRock, Inc. | Managing Director, Government Relations & Public Policy; Senior Advisor to Vice Chairman | Dec 2009–Jul 2020; Jul 2018–Jul 2020 | Public policy and corporate governance focus |
| Barclays Group (IBIM) | Managing Director, Global Head of Government Relations & Public Policy | 2006–2009 | Led policy guidance and advocacy for IB/IM/WM businesses |
| Barclays Global Investors (BGI) | Managing Director; Global General Counsel & Corporate Secretary | 1996–2006 | Global GC/Secretary; governance and regulatory leadership |
| Orrick, Herrington & Sutcliffe LLP | Partner | 1993–1995 | Specialized in derivatives and financial markets regulation |
| U.S. Commodity Futures Trading Commission (CFTC) | General Counsel | 1989–1993 | Chief legal officer of U.S. derivatives regulator |
| The White House, Office of Presidential Personnel | Deputy Assoc./Assoc. Director (Legal & Financial Affairs) | 1986–1989 | Senior legal/financial staffing oversight |
External Roles
| Organization | Role | Tenure/Years | Notes |
|---|---|---|---|
| Baltic-American Freedom Foundation | Director | 2019–Present | Education/professional development exchanges |
| SIFMA Asset Management Group | Chair, Steering Committee | 2016–2018 | Industry governance/policy leadership |
| Managed Funds Association | Chair, CTA/CPO & Futures Committee | 2010–2012 | Derivatives industry policy/standards |
| CFTC Global Markets Advisory Committee | Member | 2006–2010 | Market structure/regulatory input |
| Federalist Society (Corporations, Antitrust & Securities PG) | Chair | 2010–2022; 2000–2002 | Policy community leadership |
Board Governance
- Independence: All nominees and trustees, including Medero, are not “interested persons” and have never been employees/directors of TIAA/Nuveen; deemed Independent Board Members .
- Scope: Oversees 218 portfolios across the fund complex .
- Tenure/class: Class III; term to 2027 annual meeting; service since 2021 .
- Attendance: Each trustee attended ≥75% of Board and applicable committee meetings in the last fiscal year .
Committee assignments (JCE and complex):
- Compliance, Risk Management & Regulatory Oversight Committee – Member
- Nominating & Governance Committee – Member
- Investment Committee – Member
- Not listed on Audit, Closed-End Fund, Dividend, or Executive Committees .
JCE meeting cadence last fiscal year:
| Meeting Type | Count |
|---|---|
| Regular Board Meetings | 5 |
| Special Board Meetings | 9 |
| Audit Committee Meetings | 14 |
| Compliance & Risk Committee Meetings | 5 |
| Nominating & Governance Committee Meetings | 5 |
| Investment Committee Meetings | 4 |
Fixed Compensation
Compensation structure for Independent Board Members (applies to Medero):
| Component | 2024 | 2025 |
|---|---|---|
| Annual retainer | $350,000 | $350,000 |
| Audit Committee membership retainer | $30,000 | $35,000 |
| Compliance, Risk Mgmt & Regulatory Oversight membership retainer | $30,000 | $35,000 |
| Investment Committee membership retainer | $20,000 | $30,000 |
| Dividend, Nominating & Governance, Closed-End membership retainer | $20,000 | $25,000 |
| Board Chair additional retainer (not Medero) | $140,000 | $150,000 |
- Deferred Compensation Plan: Directors may defer fees into bookkeeping accounts notionally tied to selected Nuveen funds; distributions can be lump-sum or over 2–20 years .
- No retirement/pension plans; officers receive no compensation from funds .
Performance Compensation
| Item | Detail |
|---|---|
| Performance-based cash metrics | None disclosed for independent trustees; compensation consists of retainers/fees |
| Equity/option awards | None disclosed for independent trustees |
| Clawbacks/COC/severance | Not applicable to independent trustees |
Director Fees Paid (Most Recent Fiscal Year)
| Fund/Scope | Amount (USD) |
|---|---|
| JCE (Core Equity Alpha) – Aggregate compensation to Medero | $623 |
| Total compensation from funds in the Nuveen Fund Complex (to Medero) | $461,987 |
| Deferred fees credited (JCE; Medero) | $215 |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed in past five years |
| Non-profit/academic boards | Baltic-American Freedom Foundation – Director (since 2019) |
| Potential interlocks/conflicts | None disclosed for Medero; independence affirmed; no related-party holdings table entries for her |
Expertise & Qualifications
- Derivatives regulation and policy: former CFTC General Counsel; member of CFTC Global Markets Advisory Committee .
- Investment management governance: former Global GC & Corporate Secretary at BGI; policy lead at Barclays/BlackRock .
- Industry leadership: chaired SIFMA AMG Steering Committee; chaired MFA CTA/CPO & Futures Committee .
- Education: J.D., George Washington University Law School (1978); B.A., St. Lawrence University (1975) .
Equity Ownership
| Metric | JCE (Core Equity Alpha) |
|---|---|
| Beneficial ownership (dollar range) | $0 as of Dec 31, 2024 |
| Shares owned | 0 as of Dec 31, 2024 |
| Ownership as % of outstanding | <1% for each trustee, including Medero |
| Board guideline | Each trustee is expected to invest at least one year of compensation in funds in the complex |
| Deferred compensation note | JCE deferred fees credited: $215 (book entry) |
Governance Assessment
-
Independence and experience: Medero is an independent trustee with extensive regulatory and governance credentials; not affiliated with TIAA/Nuveen; strong fit for compliance and governance oversight committees .
-
Engagement: Met ≥75% attendance threshold; participates on key risk, governance, and investment oversight committees; JCE had robust meeting cadence (e.g., 14 Audit Committee meetings) .
-
Compensation alignment: Trustees are paid via fixed retainers/committee fees; no performance-linked or equity-based pay; deferral program allows notionally aligning pay to Nuveen funds (Medero had $215 deferred to JCE) .
-
Ownership alignment: Reported $0 direct beneficial ownership in JCE (and $0 across other listed Nuveen funds), while a board guideline “expects” one year of compensation invested across the complex—an alignment consideration for investors .
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Conflicts/related-party exposure: None disclosed for Medero; no Section 16(a) delinquencies reported for trustees; all trustees compliant in the last fiscal year .
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Leadership: Not a committee chair; influence derives from committee participation and oversight across 218 portfolios .
-
RED FLAGS
- $0 direct beneficial ownership in JCE as of 12/31/2024, despite a board guideline expecting material personal investment across the complex .
- No other red flags observed: independence affirmed; attendance threshold met; no related-party transactions or equity award modifications disclosed .