David DiPetrillo
About David DiPetrillo
David DiPetrillo is President of BNY Mellon Strategic Municipals, Inc. (LEO), age 47, and an officer of 47 investment companies (89 portfolios) managed by BNY Mellon Investment Adviser, Inc. . He became President in 2021 (previously Vice President) , and concurrently serves as Vice President and Director of the Investment Adviser (since Feb 2021), Head of North America Distribution (since Feb 2023), and previously Head of North America Product (Jan 2018–Feb 2023) . The proxy does not disclose individual TSR, revenue, EBITDA growth, or any performance metrics tied to his compensation for LEO .
Past Roles
| Organization | Role | Years | Notes/Strategic Scope |
|---|---|---|---|
| BNY Mellon Investment Adviser, Inc. | Vice President and Director | Since Feb 2021 | Executive role at the Investment Adviser |
| BNY Investments | Head of North America Distribution | Since Feb 2023 | Distribution leadership for North America |
| BNY Investments | Head of North America Product | Jan 2018 – Feb 2023 | Product leadership for North America |
| BNY Mellon Investment Management | Director of Product Strategy | Jan 2016 – Dec 2017 | Product strategy leadership |
External Roles
No external public-company directorships or outside board roles are disclosed for DiPetrillo in the proxy statements reviewed .
Fixed Compensation
Officer cash compensation (base salary, bonus) is not disclosed at the fund level; LEO’s proxy provides director compensation but does not include officer pay details such as salary, target bonus, or actual bonus paid .
Performance Compensation
No disclosure of stock awards, option awards, performance-based metrics, vesting schedules, clawbacks, or bonus plan mechanics for fund officers in LEO’s proxies. The fund states it has no bonus, pension, profit-sharing, or retirement plan for directors; officer incentive structures are not detailed in these filings .
Equity Ownership & Alignment
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Fund Common Stock owned (LEO) | None | None | None |
| VMTP/APS holdings | None | None | None |
| Shares pledged as collateral | Not disclosed | Not disclosed | Not disclosed |
| Ownership guidelines/compliance | Not disclosed | Not disclosed | Not disclosed |
Additional alignment indicators:
- Section 16(a) reporting: Proxies note no officer holdings; delinquent filings discussed relate to third parties (e.g., Bank of America), not officers .
Employment Terms
| Term | Detail |
|---|---|
| Current role | President of LEO since 2021; previously Vice President |
| Officer tenure status | Officers hold office for an indefinite term until a successor is elected and qualified |
| Principal office | 240 Greenwich Street, New York, NY 10286 |
| Other officer scope | Officer of 47 investment companies (89 portfolios) in 2025; 52 companies (116 portfolios) in 2024; 53 companies (103 portfolios) in 2023 |
| Contracts/Severance/CoC | No employment agreement, severance, or change-of-control terms disclosed for fund officers in these proxies |
| Non-compete/Non-solicit | Not disclosed |
Investment Implications
- Alignment: With no disclosed fund-level officer compensation and no officer share ownership, direct pay-for-performance alignment to LEO’s stock or distribution is limited at the fund level; officer incentives likely reside at the Investment Adviser, but those details are not included in LEO’s proxy .
- Insider pressure: Zero officer share ownership implies minimal insider selling pressure risk tied to DiPetrillo for LEO .
- Retention/contract risk: Employment is at-will/indefinite with no disclosed severance or change-of-control economics for fund officers, reducing visible retention guarantees or golden parachute concerns from the fund perspective .
- Governance: LEO’s board is fully independent; committees (Audit, Nominating, Compensation, Litigation) function per charter. Compensation disclosures address director fees only; officer compensation is outside these proxies’ scope .