Joseph Boateng

About Joseph A. Boateng

Independent Board Member of Nuveen Core Equity Alpha Fund (JCE); joined the boards of each Fund other than Core Plus Impact, Multi-Asset Income, Multi-Market Income, Real Asset, and Variable Rate Preferred & Income in 2024. Year of birth: 1963. Chief Investment Officer at Casey Family Programs since 2007; previously Director of U.S. Pension Plans at Johnson & Johnson (2002–2006). Education: B.S., University of Ghana; M.B.A., UCLA. Oversees 213 portfolios across the Nuveen/TIAA fund complex. Independent (not an “interested person” of the Funds or Nuveen/TIAA) per the Investment Company Act.

Past Roles

External Roles

Board Governance

• Independence: Nuveen Funds confirm all Board Members (including Boateng) are independent and have never been employees or directors of TIAA or Nuveen.
• Committee assignments (JCE-specific):
  • Audit Committee: Member (audit oversight, valuation policy supervision).
  • Nominating & Governance Committee: Member (board composition, governance processes, compensation oversight for directors).
  • Investment Committee: Co-Chair alongside Amy B.R. Lancellotta (fund performance and investment risk oversight).
• Attendance and engagement: Each Board Member attended 75% or more of Board and committee meetings during the last fiscal year.
• JCE Board/Committee meetings held in last fiscal year:

  Meeting Type	Count
  Regular Board Meetings	5
  Special Board Meetings	9
  Executive Committee Meetings	5
  Dividend Committee Meetings	10
  Compliance, Risk & Regulatory Oversight Committee	5
  Audit Committee Meetings	14
  Nominating & Governance Committee	5
  Investment Committee	4
  Closed-End Fund Committee	4

Fixed Compensation

• Structure (effective Jan 1, 2024; increased again Jan 1, 2025):
  • Annual retainer: $350,000; Chair/Co-Chair of Board: $140,000, increased to $150,000 in 2025.
  • Committee membership retainers: Audit and Compliance $30,000, increased to $35,000 (2025); Investment $20,000, increased to $30,000 (2025); Dividend, Nominating & Governance, Closed-End Funds $20,000, increased to $25,000 (2025).
  • Committee chair retainers: Audit and Compliance $30,000 → $35,000 (2025); Investment $20,000 → $30,000 (2025); Dividend/Nominating/Closed-End $20,000 → $25,000 (2025).
  • Ad hoc meeting fees: $1,000 or $2,500 depending on length/immediacy; special assignment committee quarterly fees (chair from $1,250; members from $5,000).
• JCE-specific compensation in last fiscal year:

  Fund	Boateng Compensation ($)
  Nuveen Core Equity Alpha Fund (JCE)	$449

• Total compensation across the Fund Complex paid to Boateng (last fiscal year): $464,250.
• Deferred Compensation Plan: Directors may elect to defer; Boateng’s deferred fees attributable to JCE: $112 (plan credits as though invested in participating Nuveen funds).

Performance Compensation

• No performance-based bonuses, stock awards, or option awards disclosed for Board Members; director compensation is structured as retainers and fees.
• Performance metrics tied to compensation: None disclosed.

Other Directorships & Interlocks

Expertise & Qualifications

• CIO experience leading endowment-style portfolios (Casey Family Programs), and prior corporate pension leadership (J&J).
• Investment committee leadership across public pension and philanthropic organizations.
• Education: B.S. (University of Ghana); M.B.A. (UCLA).
• Not designated as an “audit committee financial expert” in the proxy (designation applies to Nelson, Moschner, Starr, Young).

Equity Ownership

• Board policy: Each Board Member is expected to invest, directly or on a deferred basis, at least the equivalent of one year of compensation in funds across the Fund Complex.

• Beneficial ownership (as of Dec 31, 2024):

  Item	Value
  JCE dollar range (Boateng)	$0
  JCE shares owned (Boateng)	0
  Ownership as % of JCE outstanding	Less than 1% for each individual Board Member
  Aggregate range of holdings in family of investment companies (Boateng)	Over $100,000

• Insider filings and current positions:

  Form	Filing Date	Transaction Date	Post-Transaction Ownership	Link
  Form 3	2024-01-09	2024-01-01	0 shares	https://www.sec.gov/Archives/edgar/data/1385763/000122520824000648/0001225208-24-000648-index.htm

Governance Assessment

• Strengths:
  • Independent status with broad investment oversight experience; active roles on Audit, Nominating & Governance, and as Co-Chair of Investment Committee suggest strong engagement with financial reporting, governance, and performance oversight.
  • Attendance threshold met (≥75% across meetings); high committee cadence at JCE (14 Audit meetings; 5–10 for other committees) indicates robust governance processes.
• Alignment and incentives:
  • JCE-specific beneficial holdings are $0, but aggregate holdings across registered investment companies are “Over $100,000.” The board’s policy expects at least one year of compensation invested across the Fund Complex; the proxy does not disclose individual compliance status. This is a monitoring point for investor alignment.
• Conflicts and related-party exposure:
  • No disclosure of related-party transactions. Appendix A’s related-entity holdings section lists other directors (e.g., Kenny) but does not list Boateng, suggesting no such holdings as of Sept 30, 2024.
• RED FLAGS:
  • None disclosed regarding legal proceedings, tax gross-ups, option repricing, or loans. Attendance and independence affirmed; no pledging/hedging disclosures noted.