Cynthia L. Egan
About Cynthia L. Egan
Independent Board Member of BlackRock MuniYield New York Quality Fund, Inc. (MYN) since 2016; year of birth 1955. Former President of Retirement Plan Services at T. Rowe Price and senior executive at Fidelity; served as Advisor to the U.S. Treasury (2014–2015). Oversees 68 BlackRock-advised registered investment companies (RICs) comprising 103 portfolios .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| U.S. Department of the Treasury | Advisor | 2014–2015 | Public policy and regulatory advisory |
| T. Rowe Price Group, Inc. | President, Retirement Plan Services | 2007–2012 | Led retirement services; product and client strategy |
| Fidelity Investments | Executive roles | 1989–2007 | Senior leadership across investment and operations |
External Roles
| Company | Role | Status |
|---|---|---|
| Unum Group | Director | Current |
| The Hanover Insurance Group | Board Chair | Current |
| Huntsman Corporation | Lead Independent Director; non‑Executive Vice Chair | Current |
Board Governance
- Independence: Egan is one of eight Independent Board Members on MYN’s ten‑member board, indicating a majority‑independent structure for the Fund complex .
- Breadth of oversight: Oversees 68 RICs (103 portfolios) in the BlackRock Fixed‑Income Complex; breadth suggests strong fund governance experience but implies high workload across complexes .
- Anti‑takeover/board continuity: Vacancies from board size increases or director changes can be filled by remaining directors for the remainder of the term, which may entrench continuity; advance‑notice bylaw provisions apply for shareholder nominations/business .
Fixed Compensation
Not disclosed in this Proxy Statement to preferred shareholders. This special meeting proxy focuses on mergers and fund structural matters rather than director compensation detail .
Performance Compensation
Not disclosed in this Proxy Statement. Closed‑end fund directors typically receive fixed cash retainers and may participate in deferred compensation; no performance‑metric awards are indicated here .
Other Directorships & Interlocks
- Current public boards: Unum; The Hanover Insurance Group (Chair); Huntsman Corporation (Lead Independent Director, non‑Executive Vice Chair) .
- Related‑party/affiliates exposure: As of Dec 31, 2024, Independent Board Members and immediate family did not beneficially own securities of BlackRock or its affiliates; no material interests in transactions with the Funds/BlackRock in the prior two years disclosed .
Expertise & Qualifications
- Deep retirement and investment operations expertise from senior roles at T. Rowe Price and Fidelity; public policy advisory experience at Treasury .
- Extensive fund governance experience overseeing 68 RICs (103 portfolios) in the Fixed‑Income Complex .
Equity Ownership
| Holder | MHN Common Shares | BNY Common Shares | MYN Common Shares | Aggregate Dollar Range in Supervised Funds |
|---|---|---|---|---|
| Cynthia L. Egan | None | None | None | Over $100,000 (includes share equivalents under deferred compensation for certain Independent Board Members) |
Governance Assessment
- Positive signals:
- Independent director with significant fund governance and financial services background; currently chairs and leads on external public boards, demonstrating governance competence .
- No beneficial ownership or related‑party transactions with BlackRock/affiliates disclosed, reducing conflict risk .
- Watch items / potential red flags:
- Alignment: No disclosed direct holding of MYN/MHN/BNY common shares as of Dec 31, 2024, which may weaken direct economic alignment with common shareholders; although substantial exposure to supervised funds exists via holdings/deferred equivalents .
- Workload: Responsibility across 68 RICs could diffuse attention; monitor meeting attendance and committee engagement when available .
- Data gaps to monitor:
- Committee assignments/chair roles at MYN (Audit, Nominating/Governance, Compensation) and attendance rates—not disclosed in this special meeting proxy .
- Director compensation (retainers, fees, equity/deferred programs) for MYN’s board—absent in this filing .
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