Brett Black
About Brett Black
Brett E. Black (born 1972) serves as Vice President and Chief Compliance Officer (CCO) of Nuveen Mortgage & Income Fund (JLS), with an indefinite term and service since 2022; he is Managing Director and CCO of Nuveen and previously held senior compliance roles at BMO Funds, Inc. from 2014–2022, including CCO and Anti‑Money Laundering Compliance Officer (2017–2022) and Deputy CCO (2014–2017) . Officers receive no compensation from the Fund; the CCO’s compensation is paid by the Adviser (Nuveen Fund Advisors, LLC), and the Fund reimburses the Adviser for an allocable portion of the cost of the CCO’s incentive compensation . The Board’s Compliance, Risk Management & Regulatory Oversight Committee meets quarterly, receives written and oral reports from the CCO, and meets privately with the CCO at each quarterly meeting; the CCO provides an annual report to the full Board . (No education credentials or Fund TSR/revenue/EBITDA metrics are disclosed for Mr. Black.)
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BMO Funds, Inc. | Chief Compliance Officer; Anti‑Money Laundering Compliance Officer | 2017–2022 | Led registered fund compliance and AML oversight; enhanced controls and regulatory adherence |
| BMO Funds, Inc. | Deputy Chief Compliance Officer | 2014–2017 | Built and maintained fund compliance program; supported regulatory examinations |
| BMO Funds, Inc. | Vice President | 2014–2022 | Senior leadership in compliance across fund complex |
External Roles
Not disclosed for Brett Black.
Fixed Compensation
| Component | Disclosure | Notes |
|---|---|---|
| Fund-paid cash compensation | $0 | Officers of the Funds receive no compensation from the Funds . |
| CCO total compensation payer | Adviser (Nuveen Fund Advisors, LLC) | Paid by Adviser; Fund reimburses an allocable portion of the Adviser’s cost of the CCO’s incentive compensation . |
| Retirement/pension | None at Fund level | Funds do not have retirement or pension plans; applies to Fund governance compensation context . |
Performance Compensation
Not disclosed (no specific performance metrics, weights, targets, or payouts are provided for the CCO role).
Equity Ownership & Alignment
| Metric | Value |
|---|---|
| Common shares outstanding (JLS) | 5,476,626 |
| Beneficial ownership by Board Members and officers as a group (JLS) | 499 shares |
| Group ownership as % of outstanding | Less than 1% (per proxy); derived as 499 / 5,476,626 ≈ 0.009% |
- Individual Board Members’ beneficial shareholdings of each Fund were each less than 1% as of the record date; Board Members and executive officers as a group beneficially owned less than 1% of JLS .
- Pledging/hedging and individual officer (including Brett Black) holdings are not separately disclosed.
- Board Members are expected to invest at least the equivalent of one year of compensation in Nuveen Funds to align interests; this governance principle applies to Board Members, not Fund officers .
Employment Terms
| Term | Disclosure |
|---|---|
| Position | Vice President and Chief Compliance Officer |
| Term of office | Indefinite |
| Length of service | Since 2022 |
| Employer affiliation | Managing Director, Chief Compliance Officer of Nuveen |
| Contract/severance/change‑of‑control | Not disclosed |
| Non‑compete/non‑solicit/garden leave | Not disclosed |
Board oversight of compliance places structured, recurring interaction with the CCO: quarterly Compliance Committee meetings, private sessions with CCO, and an annual compliance program report to the full Board .
Investment Implications
- Alignment: Officers do not receive Fund-paid compensation; the CCO’s pay is determined by the Adviser, with only an allocable reimbursement of incentive compensation at the Fund level—limiting Fund-specific pay-for-performance levers for trading inference . Group beneficial ownership in JLS is de minimis (<1%), providing little insider alignment signal at the Fund level .
- Retention risk: Compensation and employment for the CCO are tied to Nuveen (Adviser) rather than the Fund; retention dynamics are more dependent on Nuveen’s policies than JLS-specific outcomes (no contract terms disclosed) .
- Governance/compliance signal: Robust Board compliance oversight (quarterly reporting and private sessions with the CCO; annual program report) reduces operational/regulatory risk—neutral to positive for execution quality, but not a direct trading catalyst .
- Trading signals: No disclosed vesting schedules, option grants, pledging, or insider selling pressure for Brett Black. Monitor future Item 5.02 8‑Ks and Section 16 filings for any officer changes or transactions; the Fund reported compliance with Section 16(a) filing requirements during the last fiscal years .