John Nelson
About John K. Nelson
Independent Board Member of Nuveen Credit Strategies Income Fund (JQC); born 1962; serves across the Nuveen Funds unitary board since 2013. Former CEO of ABN AMRO Bank N.V., North America and Global Head of its Financial Markets Division; earlier senior roles at ABN AMRO/LaSalle (1996–2008). He holds a B.A. in Economics and an MBA in Finance from Fordham University. Class II trustee with current term through the 2026 annual meeting; designated an “audit committee financial expert.”
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ABN AMRO Bank N.V. (incl. LaSalle Bank Corp.) | CEO, North America; Global Head, Financial Markets Division; various executive leadership roles | 1996–2008 | Led currency, commodity, fixed income, emerging markets, and derivatives businesses; served on Fed FX Committee and committees of Bank of Canada, ECB, and BoE |
| Deloitte Consulting LLP | Senior External Advisor, Financial Services practice | 2012–2014 | Advisory on financial services strategy |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Core12 LLC (private) | Director | 2008–2023 | Branding/marketing firm |
| Fordham University | President’s Council (Director) | 2010–2019 | University advisory body |
| Curran Center for Catholic American Studies | Director | 2009–2018 | Academic center governance |
| Marian University | Trustee; Chairman, Board of Trustees | 2011–2013 | Board leadership |
Board Governance
- Independence: All nominees/Board Members, including Nelson, are independent under the 1940 Act and have never been employees of TIAA/Nuveen.
- Term/class: Class II trustee for JQC (term through 2026 annual meeting).
- Committees (current membership/roles across Nuveen Funds):
- Audit Committee – Chair; designated “audit committee financial expert.”
- Executive Committee – Member.
- Dividend Committee – Member.
- Nominating & Governance Committee – Member.
- Investment Committee – Member.
- Closed-End Fund Committee – Member.
- Attendance: Each Board Member attended 75%+ of Board and committee meetings in the last fiscal year; committee meeting counts by fund shown in Appendix C.
- Workload/coverage: Oversees 218 portfolios in the Fund Complex.
Fixed Compensation
Compensation framework and recent changes (independent trustees):
- 2023 (pre-1/1/2024): $210,000 annual retainer plus per-meeting fees (Board and committees), with additional chair retainers (e.g., Board Chair $140,000; key committee chairs $20,000).
- 2024 (from 1/1/2024): $350,000 annual retainer plus annual retainers for committee memberships (Audit and Compliance $30,000; Investment $20,000; Dividend/Nominating/Closed-End $20,000) and chair retainers (Board Chair $140,000; Audit/Compliance Chair $30,000; Investment Chair $20,000; Dividend/Nominating/Closed-End Chairs $20,000).
- 2025 (from 1/1/2025): Increases to committee membership and chair retainers (Audit/Compliance membership $35,000; Investment membership $30,000; Dividend/Nominating/Closed-End membership $25,000; Board Chair $150,000; Audit/Compliance Chair $35,000; Investment Chair $30,000; Dividend/Nominating/Closed-End Chairs $25,000).
- Ad hoc/special assignment fees: $1,000–$2,500 per ad hoc meeting; special assignment committee stipends (chair/co-chair quarterly fee starting at $1,250; members starting at $5,000).
- Deferred compensation plan available; value tracks selected Nuveen funds.
| Component | 2023 | 2024 | 2025 |
|---|---|---|---|
| Annual retainer (Independent Board Member) | $210,000 | $350,000 | $350,000 |
| Audit & Compliance committee membership (each) | Per-meeting fees | $30,000 | $35,000 |
| Investment committee membership | Per-meeting fees | $20,000 | $30,000 |
| Dividend/Nominating/Closed-End membership (each) | Per-meeting fees | $20,000 | $25,000 |
| Board Chair retainer | $140,000 | $140,000 | $150,000 |
| Audit/Compliance Chair retainer (each) | $20,000 | $30,000 | $35,000 |
| Investment Chair retainer | $20,000 | $20,000 | $30,000 |
| Dividend/Nominating/Closed-End Chair retainer (each) | $20,000 | $20,000 | $25,000 |
Trustee-level amounts paid last fiscal year:
- JQC (Credit Strategies Income Fund) paid Nelson: $4,092.
- Total compensation from funds in the Fund Complex paid to Nelson: $483,250.
| Payer | Amount |
|---|---|
| JQC (Credit Strategies) | $4,092 |
| Nuveen Fund Complex (aggregate) | $483,250 |
Notes:
- Nelson is Audit Committee Chair, so chair retainer(s) apply as outlined above; actual allocation occurs across funds based on relative net assets and agendas.
- No retirement/pension plans; officers of funds receive no compensation from funds.
Performance Compensation
- No performance-based compensation is disclosed for independent Board Members (no cash bonus, no PSU/RSU/option awards). Compensation is cash retainers and meeting/committee fees; no equity compensation program for directors.
- Deferred compensation plan is elective; Nelson had no amounts shown as deferred in the Participating Funds table for the last fiscal year.
Other Directorships & Interlocks
- Current public company directorships: None disclosed for Nelson.
- Prior/other roles: Private company and academic/non-profit positions listed above; no disclosed interlocks with JQC adviser/affiliates that would impair independence.
- Companies advised by affiliates: Table of such holdings shows entries for another trustee (Kenny), none for Nelson.
Expertise & Qualifications
- Capital markets and banking leadership (FX, commodities, fixed income, EM, derivatives) with global regulatory interactions; former CEO (North America) and Global Markets head at ABN AMRO.
- Audit Committee Financial Expert designation.
- Governance contributions across 218 portfolios and multiple standing committees. –
Equity Ownership
- Ownership guideline: Board expects each member to invest at least one year of compensation (directly or deferred) in funds in the Fund Complex.
- JQC beneficial ownership: $0 dollar range as of December 31, 2024.
- Aggregate holdings across the family of investment companies: “Over $100,000.”
- Ownership percentage: Each Board Member individually owned less than 1% of the outstanding shares of each Fund; Board Members and officers as a group owned less than 1% of each Fund.
- Pledging/hedging: No pledging or hedging of fund shares disclosed.
| Holding View | Amount/Range | As Of |
|---|---|---|
| JQC (dollar range) | $0 | Dec 31, 2024 |
| All registered investment companies overseen (aggregate range) | Over $100,000 | Dec 31, 2024 |
| JQC % of shares outstanding (individual) | <1% | Feb 18, 2025 |
Governance Assessment
- Strengths: Independent trustee; Audit Committee Chair and SEC-designated financial expert; broad committee engagement (Executive, Dividend, Nominating & Governance, Investment, Closed-End); attendance ≥75%; no related-party conflicts disclosed; Section 16(a) compliance affirmed.
- Watch items: Dollar-range shows $0 direct ownership in JQC while aggregate family holdings exceed $100k; Board guideline expects one-year-compensation-equivalent invested across the complex (compliance status not specified). Oversees 218 portfolios, indicating high breadth of responsibilities.
No legal proceedings, SEC investigations, related-party transactions, hedging/pledging, or option/equity awards for Nelson are disclosed in the proxy.
Director Compensation Details (Fund-Level)
| Fund | Aggregate Compensation Paid to Nelson (last FY) |
|---|---|
| Nuveen Credit Strategies Income Fund (JQC) | $4,092 |
Insider Filings and Attendance Compliance
- Section 16(a) compliance: Funds report Board Members/officers complied with all applicable filing requirements in the last fiscal year.
- Meeting attendance: Each Board Member attended at least 75% of Board and committee meetings.