Michael A. Forrester
About Michael A. Forrester
Independent Board Member (Class I nominee) of Nuveen Global High Income Fund (JGH); born 1967; service in the Nuveen/TIAA fund complex since 2007, with appointment to the Nuveen closed-end fund boards (including JGH) in 2024. Former CEO (2014–2021) and COO (2007–2014) of Copper Rock Capital Partners, LLC; B.A., Washington & Lee University. Current external governance roles include the ICI Independent Directors Council (IDC) Governing Council and Trustee, Dexter Southfield School. Previously served as Trustee of the College Retirement Equities Fund (CREF) and Manager, TIAA Separate Account VA‑1 (2007–2023). He is an independent (non‑interested) director and is a Class I nominee to serve until the 2028 annual meeting.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Copper Rock Capital Partners, LLC | Chief Executive Officer | 2014–2021 | Led boutique asset manager; prior board member (2007–2021) |
| Copper Rock Capital Partners, LLC | Chief Operating Officer | 2007–2014 | Oversaw operations during firm growth phase |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Independent Directors Council (IDC), Investment Company Institute | Governing Council Member | Since 2020 | Industry governance body for independent fund directors |
| Dexter Southfield School | Trustee | Since 2019 | Non‑profit board role |
| College Retirement Equities Fund (CREF) | Trustee (prior) | 2007–2023 | TIAA-affiliated; prior governance experience |
| TIAA Separate Account VA‑1 | Manager (prior) | 2007–2023 | TIAA-affiliated insurance separate account governance |
Board Governance
| Governance Dimension | Details |
|---|---|
| Board independence | Listed among “Board Members/Nominees who are not ‘interested persons’” (independent) |
| Committee memberships (JGH board complex) | Compliance, Risk Management & Regulatory Oversight Committee – Member ; Nominating & Governance Committee – Member ; Investment Committee – Member |
| Not on these committees | Audit Committee (not listed as member) ; Closed‑End Fund Committee (not listed) ; Executive Committee; Dividend Committee |
| Attendance | Each Board Member attended at least 75% of board and applicable committee meetings in the last fiscal year |
| Election/term | Class I nominee for JGH; term expiring at the 2028 annual meeting (if elected) |
Fixed Compensation
| Component | 2024 Amount | 2025 Amount | Notes |
|---|---|---|---|
| Annual retainer (Independent Board Members) | $350,000 | $350,000 | Effective Jan 1, 2024; continues into 2025 per disclosure |
| Audit Committee membership retainer | $30,000 | $35,000 | Not applicable to Forrester (not on Audit) |
| Compliance Committee membership retainer | $30,000 | $35,000 | Member |
| Investment Committee membership retainer | $20,000 | $30,000 | Member |
| Dividend, Nominating & Governance, Closed‑End membership retainer (each) | $20,000 | $25,000 | Nominating & Governance: Member ; Closed‑End: Not a member ; Dividend: Not listed |
| Board Chair premium (if applicable) | $140,000 | $150,000 | Not applicable to Forrester (not identified as Chair) |
| Committee Chair premiums (Audit/Compliance/Investment/others) | $20,000–$30,000 | $25,000–$35,000 | Not applicable (not chair) |
| Ad hoc meeting fees | $1,000 or $2,500 per meeting | $1,000 or $2,500 per meeting | Based on length/immediacy |
| Special assignment committee fees | Chair: $1,250 quarterly; Members: $5,000 quarterly | Same starting amounts | As applicable |
| Deferred Compensation Plan | Available; amounts notionally invested in eligible Nuveen funds | Available | Distributions per elections |
| Fund | Aggregate Compensation to Michael A. Forrester (Last FY) |
|---|---|
| Nuveen Global High Income Fund (JGH) | $848 |
| Total from funds in the Fund Complex (last FY) | $480,750 |
Performance Compensation
- No performance metrics or incentive-based components are disclosed for independent directors; compensation is structured as fixed retainers, committee retainers, and meeting/special assignment fees, with a voluntary Deferred Compensation Plan election option .
Other Directorships & Interlocks
| Company/Entity | Type | Role | Potential Interlock/Notes |
|---|---|---|---|
| College Retirement Equities Fund (CREF) | Investment company (TIAA-affiliated) | Trustee (2007–2023) | Prior affiliation within TIAA/Nuveen ecosystem |
| TIAA Separate Account VA‑1 | Insurance separate account (TIAA) | Manager (2007–2023) | Prior affiliation within TIAA/Nuveen ecosystem |
| IDC (ICI) Governing Council | Industry body | Member (since 2020) | Governance network role |
| Dexter Southfield School | Non-profit | Trustee (since 2019) | Non-profit; no apparent JGH conflict |
Note: The proxy includes a table of board members holding securities in companies advised by affiliates; Mr. Forrester is not listed in that table (an entry is shown for another trustee, not Forrester), indicating no such positions were disclosed for him as of Sept 30, 2024 .
Expertise & Qualifications
- Senior investment management operating experience as COO and CEO of an institutional asset manager (Copper Rock), with board service at investment funds and affiliated entities (TIAA/CREF) .
- Governance credentials through service on the ICI IDC Governing Council and multiple fund board committees (Compliance; Nominating & Governance; Investment) .
- Academic background: B.A., Washington & Lee University .
- Classified as an independent trustee under Exchange rules and fund definitions .
Equity Ownership
- The proxy’s Appendix A-3 presents selected fund-level ownership by board members (including share equivalents under the Deferred Compensation Plan). Forrester is shown with 0 in the listed funds; JGH is not one of the funds shown in that table, and the proxy does not provide a JGH-specific ownership line for Forrester. Therefore, JGH-specific equity ownership by Forrester is not disclosed in the filing .
Governance Assessment
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Strengths
- Independent director with deep asset management operating experience (CEO/COO), and active participation on key governance and risk committees (Compliance; Nominating & Governance; Investment) .
- Meets attendance expectations (≥75% of board/committee meetings) and is a standing nominee for a full term ending 2028, supporting continuity and engagement .
- Compensation framework is standardized, transparent, and primarily fixed retainers with publicly disclosed committee fee structure; deferred compensation permits alignment via fund-equivalent exposures .
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Watch items / potential conflicts
- Serves as a paid consultant to certain other Nuveen funds (Core Plus Impact, Multi‑Asset Income, Multi‑Market Income, Real Asset, Variable Rate Preferred & Income) under consulting agreements; while not related to JGH, multi‑fund roles can raise perceived conflicts if issues span funds (mitigated by independence and committee structures) .
- The proxy does not disclose JGH‑specific equity ownership for Forrester; absence of disclosed “skin-in-the-game” detail limits direct ownership alignment assessment for JGH .
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No red flags found in the filing regarding: related‑party company security holdings (none listed for Forrester in the affiliate‑advised companies table), Audit Committee financial expert designation (not applicable to him), or attendance shortfalls .