Marc Cardella
About Marc Cardella
Marc Cardella serves as Vice President and Controller (Principal Financial Officer) of Nuveen Mortgage & Income Fund (JLS). He has been an officer since 2024 and was born in 1984, with principal address listed as 8500 Andrew Carnegie Blvd, Charlotte, NC 28262 . He is Senior Managing Director and Head of Public Investment Finance at Nuveen, and holds senior finance roles across Teachers Advisors, LLC, TIAA‑CREF Investment Management, LLC, Teachers Insurance and Annuity Association of America, and TIAA SMA Strategies LLC; he is also Principal Financial Officer, Principal Accounting Officer and Treasurer of TIAA Separate Account VA‑1 and the College Retirement Equities Fund . Officers of the Funds receive no compensation from the Funds; compensation is paid by the Adviser (Nuveen/TIAA), and specific pay metrics (salary/bonus/RSUs) are not disclosed in the proxy .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Senior Managing Director; Head of Public Investment Finance | Not disclosed | Finance leadership for public investment products |
| Teachers Advisors, LLC | Senior Managing Director | Not disclosed | Senior finance responsibilities across adviser platform |
| TIAA‑CREF Investment Management, LLC | Senior Managing Director | Not disclosed | Senior finance responsibilities across asset management |
| Teachers Insurance and Annuity Association of America | Managing Director | Not disclosed | Senior finance responsibilities at insurance parent |
| TIAA SMA Strategies LLC | Managing Director | Not disclosed | Senior finance responsibilities for SMA strategies |
| TIAA Separate Account VA‑1 | Principal Financial Officer, Principal Accounting Officer, Treasurer | Not disclosed | Financial reporting and control for variable annuity separate account |
| College Retirement Equities Fund (CREF) | Principal Financial Officer, Principal Accounting Officer, Treasurer | Not disclosed | Financial reporting and control for registered investment accounts |
| Nuveen Mortgage & Income Fund (JLS) | Vice President & Controller (Principal Financial Officer) | Since 2024 | Fund principal finance officer overseeing financial reporting |
External Roles
No external public company board roles or committee positions are disclosed for Marc Cardella in the JLS proxy .
Fixed Compensation
- Officers receive no compensation from the Funds; compensation (including base salary and incentives) is paid by the Adviser (Nuveen/TIAA). Specific salary, target bonus %, or bonus paid amounts for Marc Cardella are not disclosed in the proxy .
Performance Compensation
- Equity, option, RSU/PSU awards, vesting schedules, and pay‑for‑performance metrics tied to Marc Cardella’s compensation are not disclosed in the JLS proxy (officers are compensated by the Adviser, not the Fund) .
Equity Ownership & Alignment
- Beneficial ownership by Board Members and executive officers as a group is less than 1% of outstanding shares in each Fund, including JLS; individual officer holdings for Marc Cardella are not separately disclosed .
- Board Members (not officers) are expected to invest at least the equivalent of one year of compensation in funds within the complex; this guideline does not specify requirements for fund officers .
Employment Terms
- Office: Vice President & Controller (Principal Financial Officer) of JLS; term is indefinite; length of service since 2024 .
- Officers are elected annually by the Board and serve until successors are elected and qualified; specific employment contract terms (non‑compete, severance, change‑of‑control provisions, clawbacks) are not disclosed in the proxy .
Investment Implications
- Pay structure transparency is limited: compensation is paid by the Adviser and not disclosed at the fund level, reducing direct visibility into pay‑for‑performance alignment and limiting inference of near‑term insider selling pressure (no fund‑level equity grants reported to officers) .
- Governance and continuity: Cardella’s appointment as JLS Principal Financial Officer since 2024 reflects the Fund Complex’s standardized officer framework; with annual officer elections and indefinite term, continuity depends on Board processes rather than contractual retention economics .
- Ownership alignment signal is muted: with group beneficial ownership <1% and no officer‑specific holdings disclosed, equity “skin‑in‑the‑game” at the fund level appears limited; any alignment likely comes through broader Nuveen/TIAA roles rather than JLS‑specific equity exposure .
- Disclosure discipline: Section 16(a) filings for Board Members and officers were in compliance during the last fiscal year, indicating standard governance controls without red‑flag filing lapses .