Marc Cardella
About Marc Cardella
Marc Cardella (born 1984) serves as Vice President and Controller (Principal Financial Officer) of Nuveen Preferred & Income Opportunities Fund (JPC), with an indefinite term and service since 2024; officers are elected annually by the Board and serve until successors are elected and qualified . He is Senior Managing Director, Head of Public Investment Finance at Nuveen; Senior Managing Director at Teachers Advisors, LLC and TIAA‑CREF Investment Management, LLC; Managing Director at Teachers Insurance and Annuity Association of America and TIAA SMA Strategies LLC; and Principal Financial Officer, Principal Accounting Officer and Treasurer of TIAA Separate Account VA‑1 and the College Retirement Equities Fund . He signed the Fund’s N‑14 registration statement on June 9, 2025 as the principal financial and accounting officer . Officers of the Funds receive no compensation from the Funds; the Funds’ CCO is paid by the Adviser with the Funds reimbursing an allocable portion of the CCO’s incentive compensation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Senior Managing Director; Head of Public Investment Finance | Past 5 years (current) | Leads public investment finance function |
| Teachers Advisors, LLC | Senior Managing Director | Past 5 years | Senior leadership in advisory entity |
| TIAA‑CREF Investment Management, LLC | Senior Managing Director | Past 5 years | Senior leadership in investment management |
| Teachers Insurance and Annuity Association of America; TIAA SMA Strategies LLC | Managing Director | Past 5 years | Senior leadership across TIAA legal entities |
| TIAA Separate Account VA‑1; College Retirement Equities Fund (CREF) | Principal Financial Officer, Principal Accounting Officer, and Treasurer | Past 5 years | Principal finance and accounting oversight |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| TIAA Separate Account VA‑1 | Principal Financial Officer, Principal Accounting Officer, and Treasurer | Past 5 years | Listed as current principal roles |
| College Retirement Equities Fund (CREF) | Principal Financial Officer, Principal Accounting Officer, and Treasurer | Past 5 years | Listed as current principal roles |
Fixed Compensation
| Component | Fund-Paid Amount | Notes |
|---|---|---|
| Base salary | $0 | Officers receive no compensation from the Funds |
| Target bonus % | $0 | Officers receive no compensation from the Funds |
| Actual bonus | $0 | Officers receive no compensation from the Funds |
| Stock awards (RSUs/PSUs) | Not disclosed | Fund does not compensate officers; no equity grants disclosed |
| Option awards | Not disclosed | Fund does not compensate officers; no options disclosed |
| Perquisites | Not disclosed | Not disclosed for officers; Fund does not pay officers |
The Funds’ CCO compensation (base and incentive) is paid by the Adviser; Funds reimburse an allocable portion of the Adviser’s cost of the CCO’s incentive compensation .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| None (Fund-paid officer incentives) | — | — | — | — | — |
No performance-based compensation is paid by the Fund to officers; metrics and payouts are not applicable .
Equity Ownership & Alignment
| Security | Beneficially Owned | Filing Date | Event Date | Notes |
|---|---|---|---|---|
| JPC common shares | 0 | Form 3 filed 12/03/2024 | 12/02/2024 | “No securities are beneficially owned.”; Relationship: Officer (VP and Controller) |
- Ownership as % of shares outstanding: 0% (based on Form 3 indicating no beneficial ownership) .
- Shares pledged as collateral: Not disclosed in filings reviewed .
- Stock ownership guidelines for officers: Not disclosed in Fund filings; beneficial ownership tables provided for Board Members, not officers individually .
- Section 16 filing compliance: Funds reported Board Members and officers were in compliance with applicable filing requirements in the prior fiscal year .
Employment Terms
| Term Element | Disclosure |
|---|---|
| Position | Vice President and Controller (Principal Financial Officer) |
| Term length | Indefinite; officers elected annually by the Board and serve until successors are elected and qualified |
| Start date at JPC | Since 2024 |
| Contract expiration/auto-renewal | Not applicable/disclosed; officers serve at Board’s election |
| Severance & change-of-control | Not disclosed for officers; no Fund-paid officer compensation |
| Clawback provisions | Not disclosed for officers |
| Non-compete / non-solicit / garden leave | Not disclosed for officers |
| Post-termination consulting | Not disclosed for officers |
| Signatory authority | Signed N‑14 on June 9, 2025 as principal financial and accounting officer |
Investment Implications
- Compensation alignment: As a closed‑end fund officer, Cardella receives no compensation from JPC; his compensation is at Nuveen/TIAA entities and not disclosed in Fund filings, limiting pay‑for‑performance analysis at the Fund level .
- Insider selling pressure: Form 3 indicates zero beneficial ownership of JPC shares, implying minimal direct insider selling pressure or trading signals tied to his holdings .
- Equity alignment and pledging: No JPC share ownership and no pledging disclosures, suggesting low direct “skin‑in‑the‑game” at the Fund level; ownership guidelines for officers are not disclosed .
- Retention and change‑of‑control: Officer terms are indefinite and at Board election; severance/change‑of‑control economics are not disclosed for officers, and compensation resides at the Adviser (Nuveen/TIAA), so retention risk is driven by parent‑company arrangements outside the Fund’s proxy scope .
- Governance and execution: Cardella serves as the Fund’s principal financial officer and signed the N‑14 filing, providing accountability for financial reporting and transaction execution; however, performance metrics like TSR, revenue, EBITDA during his tenure are not disclosed in Fund filings .