Albin F. Moschner
About Albin F. Moschner
Independent Board Member of the Nuveen Funds complex (including JFR – Nuveen Floating Rate Income Fund) since 2016; born 1952; electrical engineer by training (B.E. Electrical Engineering, City College of New York, 1974; M.S. Electrical Engineering, Syracuse University, 1979). Career operator and consultant with senior leadership roles across wireless/telecom and consumer electronics, and founder/CEO of Northcroft Partners, LLC (management consulting) since 2012. Designated an “audit committee financial expert” by the Board. He is standing for election by preferred shareholders for funds with preferred shares outstanding.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Northcroft Partners, LLC | Founder & Chief Executive Officer | Since 2012 | Provides operational, management and governance solutions |
| Leap Wireless International, Inc. | Chief Operating Officer; Chief Marketing Officer; Consultant | COO 2008–2011; CMO 2004–2008; Consultant 2011–2012 | Senior operating roles in consumer wireless services |
| Verizon Communications, Inc. (Verizon Card Services) | President | 2000–2003 | Led card services division |
| One Point Communications | President, One Point Services | 1999–2000 | Business leadership in telecom services |
| Zenith Electronics Corporation | Director, President & CEO; previously Director, President & COO | CEO 1995–1996; COO 1994–1995 (various exec roles 1991–1996) | Led turnaround/operations in consumer electronics |
| Diba, Incorporated | Vice Chairman of the Board | 1996–1997 | Internet technology provider (board leadership) |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| USA Technologies, Inc. | Chairman (2019); Director | Director 2012–2019 | Payments/IoT; chaired board in 2019 |
| Wintrust Financial Corporation | Director | 1996–2016 | Regional banking board service |
| Kellogg School of Management Advisory Board | Emeritus member | Since 2018 (member 1995–2018) | Business school advisory role |
| Archdiocese of Chicago Financial Council | Advisory board member (emeritus) | 2012–2018; emeritus since 2018 | Financial governance advisory |
Board Governance
- Independence: Serves as an Independent Board Member (not an “interested person”), and sits on committees comprised entirely of independent trustees. Designated as an “audit committee financial expert.”
- Committee assignments and chair roles (current):
- Closed-End Fund Committee – Chair
- Compliance, Risk Management & Regulatory Oversight Committee – Member
- Investment Committee – Member
- Nominating & Governance Committee – Member
- Note: The Audit Committee roster does not list him as a current member, but he is designated an audit committee financial expert by the Board.
- Attendance and engagement: Each Board Member (including Moschner) attended at least 75% of Board and committee meetings during the last fiscal year.
- Elections/tenure: Joined the Board in 2016; for funds without preferred shares, last elected as a Class III trustee on April 12, 2024; for funds with preferred shares (including Floating Rate Income/JFR), last elected by preferred shareholders on April 12, 2024; nominated again where applicable.
2024 Meeting Load (JFR – Floating Rate Income)
| Meeting Type | Count |
|---|---|
| Regular Board Meetings | 5 |
| Special Board Meetings | 8 |
| Executive Committee Meetings | 8 |
| Dividend Committee Meetings | 8 |
| Compliance Committee Meetings | 6 |
| Audit Committee Meetings | 14 |
| Nominating & Governance Committee Meetings | 5 |
| Investment Committee Meetings | 4 |
| Closed-End Fund Committee Meetings | 4 |
Fixed Compensation
- Fee structure (effective Jan 1, 2024; increases effective Jan 1, 2025):
- Base annual retainer: $350,000 (no change disclosed for 2025).
- Committee membership retainers (2024 → 2025): Audit $30,000 → $35,000; Compliance $30,000 → $35,000; Investment $20,000 → $30,000; Dividend $20,000 → $25,000; Nominating & Governance $20,000 → $25,000; Closed-End Fund $20,000 → $25,000.
- Chair retainers (2024 → 2025): Board Chair $140,000 → $150,000; Audit/Compliance Chair $30,000 → $35,000; Investment Chair $20,000 → $30,000; Dividend/Nominating & Governance/Closed-End Chair $20,000 → $25,000.
- Ad hoc meeting fees: $1,000 or $2,500 depending on length/immediacy; special assignment committees: chair quarterly fee starting at $1,250; members quarterly fee starting at $5,000.
- Deferred compensation plan available; no retirement or pension plans.
Actual Cash Paid – Last Fiscal Year
| Pay Source | Amount |
|---|---|
| JFR (Floating Rate Income) – aggregate paid to Moschner | $6,536 |
| Total from Nuveen Fund Complex – paid to Moschner | $481,250 |
Prior to Jan 1, 2024, the fund complex used per-meeting fees with a lower base retainer ($210,000) and various per-meeting rates; structure changed to higher fixed retainers for 2024+.
Performance Compensation
- None disclosed for independent directors; compensation is cash retainers/fees, with optional deferral; no performance metrics, stock awards, or options noted for independent trustees.
Other Directorships & Interlocks
| Company | Type | Role | Potential Interlock/Notes |
|---|---|---|---|
| USA Technologies, Inc. | Public (historical) | Director (2012–2019), Chairman (2019) | Not a current role; no disclosed related-party transactions with the Nuveen funds. |
| Wintrust Financial Corporation | Public (historical) | Director (1996–2016) | Historical service; no disclosed interlocks with Nuveen funds. |
Expertise & Qualifications
- Technical and operating expertise: electrical engineering background (B.E. 1974; M.S. 1979) and senior leadership across wireless/telecom and consumer electronics.
- Governance/financial oversight: designated “audit committee financial expert,” chairs Closed-End Fund Committee overseeing premiums/discounts, leverage usage, and market dynamics of Nuveen closed-end funds.
- Advisory/strategy experience via Northcroft Partners (governance and operational solutions).
Equity Ownership
| Metric | Value |
|---|---|
| JFR shares beneficially owned (as of Dec 31, 2024) | 34,519 shares |
| Dollar range of equity securities (by fund) | Example: Real Estate Income Fund: $1–$10,000; JFR shows share count rather than dollar range in this appendix. |
| Aggregate: each director’s holding <1% of outstanding shares of each fund (as of Feb 18, 2025) | Less than 1% for each fund per director |
Appendix data also aggregates each Board Member’s dollar range across the fund complex; several peers show “Over $100,000” aggregate ranges, though Moschner’s specific aggregate range is not separately itemized in that summary table.
Governance Assessment
- Positives
- Independent director with deep operating experience and designated audit committee financial expert status.
- Active engagement: 75%+ attendance across Board and committee meetings; chairs a key committee focused on closed-end fund market structure (discounts/premiums, leverage).
- Ownership alignment via direct holdings in JFR (34,519 shares).
- Considerations
- Compensation mix is entirely fixed-fee/cash with no performance linkage, which is standard for independent fund trustees but offers limited direct pay-for-performance alignment; optional deferred compensation exists.
- Despite direct ownership, each director individually holds <1% of any fund’s shares, which limits economic influence; however, this is common in mutual/closed-end fund governance.
- Not currently on the Audit Committee roster (while designated an expert), concentrating his influence in Closed-End Fund, Compliance, Investment, and Nominating/Governance committees.
No related-party transactions, loans, pledging, or hedging disclosures specific to Moschner were identified in the 2025 proxy excerpts reviewed. If you want, I can expand this with a Form 4 insider-trading and Section 16 review and prior-year proxy cross-check.