Brett Black
About Brett Black
Brett E. Black serves as Vice President and Chief Compliance Officer (CCO) for Nuveen Credit Strategies Income Fund (JQC) and other Nuveen funds. His year of birth is 1972; his term of office is indefinite and his length of service with the Nuveen fund complex is since 2022, after prior compliance leadership roles at BMO Funds, Inc. (2014–2022) including Anti-Money Laundering Compliance Officer (2017–2022) . Officers receive no compensation from the Funds; the CCO’s compensation is paid by the Adviser (Nuveen Fund Advisors, LLC) and consists of base salary and incentive compensation, with the Funds reimbursing an allocable portion of the Adviser’s cost of the CCO’s incentive compensation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BMO Funds, Inc. | Vice President | 2014–2022 | Senior leadership in fund compliance operations |
| BMO Funds, Inc. | Chief Compliance Officer; Anti-Money Laundering Compliance Officer | 2017–2022 | Led CCO function and AML compliance for fund complex |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen (Adviser/Parent: TIAA) | Managing Director; Chief Compliance Officer | 2022–present | Enterprise compliance leadership for Nuveen fund complex |
Fixed Compensation
- Officers of the Funds (including Brett Black) receive no compensation from the Funds .
- The CCO’s compensation is paid by the Adviser and consists of base salary and incentive compensation; the Funds reimburse the Adviser for an allocable portion of the CCO’s incentive compensation .
| Component | Payer | Structure | Notes |
|---|---|---|---|
| Base Salary | Adviser (Nuveen Fund Advisors, LLC) | Fixed cash salary | Reviewed with Board input |
| Incentive Compensation | Adviser (Nuveen Fund Advisors, LLC) | Variable cash incentive | Funds reimburse portion allocable to CCO incentive |
| Fund-paid Compensation | N/A | None | Officers serve without compensation from the Funds |
Performance Compensation
- Specific performance metrics tied to the CCO’s incentive compensation are not disclosed. The proxy only states the existence of incentive compensation paid by the Adviser and reimbursed in part by the Funds .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — |
Equity Ownership & Alignment
- As of February 18, 2025, each Board Member’s individual beneficial shareholdings constituted less than 1% of outstanding shares of each Fund, and Board Members and executive officers as a group beneficially owned less than 1% of outstanding shares of each Fund .
- For JQC specifically, Board Members/Nominees and Officers as a group held 2,714 shares as of December 31, 2024 .
| Item | Brett Black | Group (Board Members/Nominees and Officers) |
|---|---|---|
| Beneficial ownership (JQC shares) | Not individually disclosed | 2,714 shares |
| Ownership % of outstanding | Not individually disclosed | <1% (group, all funds) |
| Pledged shares | Not disclosed | Not disclosed |
| Stock ownership guidelines | Not applicable to officers; Board governance principle applies to Trustees (invest at least one year of compensation) |
Employment Terms
| Term | Detail |
|---|---|
| Position | Vice President and Chief Compliance Officer |
| Term of Office | Indefinite; officers elected annually to serve until successors are elected and qualified |
| Length of Service | Since 2022 with the Nuveen fund complex |
| Compensation Source | Paid by Adviser; Funds reimburse portion of CCO incentive |
| Severance/Change-of-Control | Not disclosed |
| Non-compete/Non-solicit/Garden leave | Not disclosed |
| Section 16(a) Compliance | Funds believe Board Members and officers complied with all applicable filing requirements during the last fiscal year |
Investment Implications
- Alignment: As CCO, Brett Black’s pay is funded by the Adviser and not the Fund; no equity grants or Fund-paid compensation are disclosed, and group-level beneficial ownership in JQC is immaterial (<1%), pointing to low direct pay-for-performance linkage to JQC’s market/TR dynamics .
- Insider selling pressure: With no officer equity awards and immaterial group ownership, structural insider selling pressure appears low; no pledging/hedging practices are disclosed .
- Retention risk: The role is enterprise compliance at Nuveen with an indefinite term; absence of disclosed employment protections (severance, CIC) or retention bonuses limits visibility, but Board-reviewed compensation and Adviser payment suggest stability within the Nuveen/TIAA complex .
- Trading signals: No Form 4 activity or individual holdings are disclosed for Brett Black; Section 16 compliance is affirmed at the fund level, reducing governance red flags tied to insider reporting .