Maleyne Syracuse
About Maleyne Syracuse
Maleyne M. Syracuse (68) is an Independent Trustee of MCI since 2007 and has served as Lead Independent Trustee since October 2019; she chairs the Governance Committee and sits on the Audit Committee . She brings over 25 years of investment banking and corporate finance experience, including Managing Director roles at JP Morgan Securities (2000–2007) and prior work at Deutsche Bank Securities (f/k/a Bankers Trust Company); she has been a private investor since 2007 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| JP Morgan Securities, Inc. | Managing Director | 2000–2007 | Investment banking leadership |
| Deutsche Bank Securities (f/k/a Banker’s Trust Company) | Investment Banker | Not disclosed | Corporate finance experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Peters Valley School of Craft (non-profit) | Board President; Board Treasurer; First Vice President; Board Director | President 2002–2021; Treasurer 2023–Jan 2025; First VP since Jan 2025; Director since 1998 | Long-standing governance leadership in non-profit arts |
| Cornelia Connelly Center (non-profit) | Board Director | 2022–2024 | Education-focused non-profit governance |
| Charles Lawrence Keith & Clara Miller Foundation | Treasurer | Not disclosed | Board experience cited in proxy |
| Greater Pike Community Foundation | Treasurer | Not disclosed | Prior board treasurer role |
Board Governance
- Independence: Qualifies as an “Independent Trustee” under NYSE listing standards and SEC rules; Audit Committee is comprised exclusively of Independent Trustees .
- Leadership: Lead Independent Trustee since October 2019; chairs Governance Committee (all Independent Trustees) .
- Committees: Audit (member); Governance (chair); Nominating (comprised of Independent Trustees, chaired by Edward P. Grace III) .
- Meetings and attendance: In FY2024, Board held six regular meetings; each Trustee attended at least 75% of Board and applicable Committee meetings for each Trust .
- Committee activity: In FY2024, Audit met 4x; Governance 1x; Nominating 1x .
- Audit oversight: Audit Committee reviewed 2024 financials with Management and KPMG, discussed PCAOB-required matters, received independence disclosures; recommended inclusion of audited financials; appointed KPMG for FY2025; KPMG’s 2024 audit had no qualifications/modifications .
- Shareholder engagement: All Trustees attended the May 16, 2024 Annual Meeting .
Fixed Compensation
| Component | MCI Quarterly ($) | MCI Annual ($) | MPV Quarterly ($) | MPV Annual ($) | Notes |
|---|---|---|---|---|---|
| Flat fee (Independent Trustees) | 18,794 | 75,176 | 12,431 | 49,724 | Payable quarterly; excludes interested persons |
| Lead Independent stipend | 1,250 | 5,000 | 1,250 | 5,000 | Additional quarterly stipend for Lead Independent Trustee |
| Total compensation (Syracuse) | — | 80,176 | — | 54,724 | Summed totals disclosed per Trust |
| Fund Complex total (Syracuse) | — | 134,900 | — | — | Aggregate compensation across fund complex |
- No pension or retirement benefits are paid to Trustees by the Trusts .
- Proxy discloses cash retainers and stipends; no equity awards are disclosed for Trustees .
Performance Compensation
- No performance-based compensation elements (e.g., RSUs/PSUs, options, bonuses, or stated performance metrics) are disclosed for Trustees; compensation consists of cash retainers and stipends .
Other Directorships & Interlocks
| Company/Organization | Public/Private | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Peters Valley School of Craft | Non-profit | President; Treasurer; First VP; Director | None with MCI’s adviser or counterparties disclosed |
| Cornelia Connelly Center | Non-profit | Director | None disclosed |
| Charles Lawrence Keith & Clara Miller Foundation | Non-profit/Foundation | Treasurer | None disclosed |
| Greater Pike Community Foundation | Non-profit/Foundation | Treasurer | None disclosed |
- No current public company directorships disclosed for Syracuse beyond MCI/MPV .
Expertise & Qualifications
- 25+ years in investment banking, corporate finance, and financial advisory, including senior roles at JP Morgan and prior work at Deutsche Bank/Bankers Trust .
- Governance leadership: Lead Independent Trustee since 2019 and Governance Committee Chair; extensive oversight engagement .
- Audit Committee Financial Expert designation resides with Barbara M. Ginader, not Syracuse .
Equity Ownership
| Holder | Dollar Range in MCI | Dollar Range in MPV | Aggregate Dollar Range (Family of Investment Companies) |
|---|---|---|---|
| Maleyne M. Syracuse | Over $100,000 | $10,001–$50,000 | Over $100,000 |
- Ownership guidelines: Since Oct 2010, each Independent Trustee is required to invest one year’s worth of fees (excluding committee fees) in shares of one or both Trusts; a three-year phase-in applies .
- Alignment note: Dollar ranges indicate material personal investment; precise compliance relative to the guideline cannot be determined from ranges alone .
Governance Assessment
- Strengths: Independent status; Lead Independent role since 2019; Governance Chair; Audit Committee member; documented attendance at least 75%; personal holdings “Over $100,000” in MCI support alignment .
- Controls and oversight: Active committee structure of Independent Trustees; regular audit oversight with unqualified audit opinion in 2024; clear charters and meeting cadence .
- Compensation and incentives: Cash-based director pay with modest leadership stipends; no equity or performance-linked director compensation disclosed—limits pay-for-performance but aligns with closed-end fund governance norms .
- Potential conflicts & related-party: No related-party transactions involving Syracuse disclosed; Audit Committee reviews auditor independence and non-audit services to Barings/MassMutual .
- RED FLAGS: None disclosed regarding pledging/hedging, loans, related-party transactions, or meeting absenteeism; Audit Committee Financial Expert designation is with another trustee (Ginader), not Syracuse—mitigated by Syracuse’s finance background and Audit Committee membership .