David J. Lamb
Chief Administrative Officer (Principal Executive Officer) at Nuveen Real Asset Income & Growth Fund
Executive
About David J. Lamb
David J. Lamb (born 1963) serves as Chief Administrative Officer (Principal Executive Officer) of Nuveen Real Asset Income and Growth Fund (JRI) with an indefinite term and has served since 2015, reflecting a decade-long tenure across the Nuveen closed‑end fund complex . His principal roles include Senior Managing Director at Nuveen Fund Advisors, LLC; Senior Managing Director at Nuveen Securities, LLC; and Senior Managing Director at Nuveen, with prior positions across Nuveen’s operations . The Funds have no employees and officers receive no compensation from the Funds, with officer compensation (e.g., the CCO) paid by the Adviser and reviewed by the Board, indicating that Lamb’s pay details are not fund‑paid and are not disclosed in the JRI proxy .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Fund Advisors, LLC | Managing Director (since 2019); Senior Managing Director (since 2021) | 2019–present | Senior leadership in fund advisory administration |
| Nuveen Securities, LLC | Managing Director (2020–2021); Senior Managing Director (since 2021) | 2020–present | Senior leadership in fund distribution/compliance infrastructure |
| Nuveen | Senior Vice President (2006–2017); Managing Director (2017–2021); Senior Managing Director (since 2021) | 2006–present | Progressive executive responsibilities across Nuveen’s fund complex |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| — | — | — | — |
Fixed Compensation
| Component | Amount/Term | Notes |
|---|---|---|
| Fund-paid officer compensation | $0 | Officers receive no compensation from the Funds; officer compensation (e.g., CCO) is paid by the Adviser with Board review and partial reimbursement to the Adviser for incentive comp . |
| Board member compensation (context) | Annual cash retainers and committee retainers per board role (not applicable to Lamb as officer) | Independent Board Members’ retainers and chair fees detailed for 2024–2025; officers are not paid by Funds . |
Performance Compensation
| Incentive Type | Payout/Structure | Vesting | Notes |
|---|---|---|---|
| Fund-paid bonuses/equity for officers | None | N/A | Officers receive no compensation from the Funds; no fund-paid cash or equity incentive detail disclosed for officers (compensation resides at Adviser) . |
Equity Ownership & Alignment
| Metric | Value | Notes |
|---|---|---|
| JRI Common Shares Outstanding (as of Feb 18, 2025) | 27,416,679 | Shares outstanding by fund . |
| All Board Members/Nominees and Officers as a Group – JRI holdings | 1,344 shares | Appendix A holdings table . |
| Group Ownership % of JRI | ~0.005% | 1,344 ÷ 27,416,679 ≈ 0.0049%; derived from and . |
| Beneficial ownership thresholds | <1% for each individual Board Member; Board Members and executive officers as a group <1% of outstanding shares of each Fund | Fund-wide statement as of Feb 18, 2025 . |
| Board ownership guideline (context) | Expected to invest at least one year of compensation in Fund Complex | Governance principle applies to Board Members (not officers) . |
Employment Terms
- Position and authority: Chief Administrative Officer (Principal Executive Officer); officers elected annually by the Board, serving indefinite terms; Lamb has served since 2015 .
- Compensation source: Officers do not receive compensation from the Funds; officer compensation (e.g., CCO) is paid by the Adviser with Board oversight of incentive components .
- Compliance: Funds state Board Members, officers, Adviser, and affiliates complied with Section 16(a)/30(h) filing requirements in the last fiscal year and prior year .
Investment Implications
- Fund-paid compensation absence means Lamb’s cash/equity incentives and severance/change‑of‑control terms (if any) reside at the Adviser (Nuveen/TIAA) rather than JRI, limiting direct fund‑level pay‑for‑performance analysis and reducing immediate trading signals tied to fund-paid awards .
- Alignment via ownership at the fund level appears minimal (group holds ~0.005% of JRI), so any meaningful alignment would need to be assessed at the Adviser level; the Board’s guideline to invest one year of compensation does not apply to officers .
- Tenure and indefinite term (since 2015) suggest low near‑term retention risk within the fund complex; officers are appointed annually but serve indefinitely, and compliance history shows no Section 16(a) issues disclosed, reducing governance red flags .
- With no fund-paid equity or option awards and no pledging/hedging disclosures in the proxy, insider selling pressure from fund-based grants is not evident; monitoring Adviser‑level disclosures (Nuveen/TIAA) and any Form 4 filings would be required to assess personal trading dynamics.