R. Glenn Hubbard
About R. Glenn Hubbard
R. Glenn Hubbard (year of birth 1958) is an Independent Board Member and Chair of the Board (since 2022) of BlackRock MuniYield New York Quality Fund, Inc. (MYN); he has served on the Funds’ boards since 2007 and previously joined legacy MLIM/BlackRock fund boards in 2004 . He is a faculty member at Columbia Business School (since 1988) and served as Dean from 2004 to 2019, and in the BlackRock Fixed‑Income Complex he oversees 66 registered investment companies (RICs) comprising 101 portfolios . Public company directorships in the past five years include ADP (2004–2020), Metropolitan Life Insurance Company, and TotalEnergies SE .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Columbia Business School | Dean | 2004–2019 | Led the school during a 15‑year period; academic leadership context for governance acumen |
| Columbia Business School | Faculty Member | 1988–present | Ongoing academic role underscores financial and policy expertise |
| BlackRock Fixed‑Income Complex Funds (incl. MYN) | Board Member → Chair of the Board | Board Member since 2007; Chair since 2022; first joined legacy boards in 2004 | Oversees 66 RICs/101 portfolios; leadership role at the fund board level |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| ADP | Director | 2004–2020 | Data and information services |
| Metropolitan Life Insurance Company | Director | Within past five years (specific dates not listed) | Insurance |
| TotalEnergies SE | Director | Within past five years (specific dates not listed) | Multi‑energy |
Board Governance
- Independence and leadership: Hubbard is identified among the Independent Board Members and serves as Chair of the Board since 2022 (Board Member since 2007) .
- Board composition: The Board consists of ten members, eight of whom are Independent Board Members, covering the BlackRock Fixed‑Income Complex .
- Director terms/retirement: Independent Board Members serve until their successors are elected or until December 31 of the year in which they turn 75; the Board may extend terms on a case‑by‑case basis .
- Shareholder communications: Investors may contact the Board (or specific directors) via mail or email; accounting concerns may be directed to the CCO or, anonymously, to the Chair of the Audit Committee .
- Activism context: The Funds entered standstill agreements with Karpus (effective 5/3/2024 through 2027) and Saba (effective 1/20/2025 through 2027), under which those shareholders agreed to customary standstill terms and to vote with Board recommendations during the effective period .
Other Directorships & Interlocks
| Company | Role | Timeframe | Potential Interlock Note |
|---|---|---|---|
| ADP | Director | 2004–2020 | Past directorship; no MYN‑specific related‑party tie disclosed |
| Metropolitan Life Insurance Company | Director | Within past 5 years (dates not listed) | No MYN‑specific related‑party tie disclosed |
| TotalEnergies SE | Director | Within past 5 years (dates not listed) | No MYN‑specific related‑party tie disclosed |
Expertise & Qualifications
- Academic/financial expertise: Long‑tenured Columbia Business School faculty member (since 1988) and former Dean (2004–2019) .
- Governance leadership: Chair of the Board at MYN since 2022, with fund board service since 2007 (legacy boards since 2004) .
- Scale of oversight: Oversees 66 RICs comprising 101 portfolios across the BlackRock Fixed‑Income Complex, indicating broad governance exposure .
Equity Ownership
| Holder | MYN (Aggregate Dollar Range) | MHN (Aggregate Dollar Range) | BNY (Aggregate Dollar Range) | Aggregate Dollar Range in Supervised Funds |
|---|---|---|---|---|
| R. Glenn Hubbard | None | None | $1–$10,000 | Over $100,000 (includes deferred comp share equivalents for certain Independent Board Members) |
- As of July 31, 2025, officers and Board Members of each Fund, as a group, beneficially owned less than 1% of the outstanding common shares; none owned VRDP Shares .
- As of December 31, 2024, Independent Board Members (and immediate family) did not beneficially own securities of the Investment Advisor or entities controlling/controlled by the Investment Advisor (excluding registered investment companies) .
- Related‑party review: As of December 31, 2024, no Independent Board Member (or immediate family member) had a material interest in transactions involving the Funds, BlackRock, affiliates, or underwriters in the past two years .
Governance Assessment
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Strengths:
- Independent Chair with long tenure and significant governance experience across the BlackRock Fixed‑Income Complex (66 RICs/101 portfolios), providing continuity and oversight depth .
- Clear shareholder communication channels and established pathways for accounting concerns (including anonymous submissions to the Audit Chair), supporting accountability .
- No disclosed related‑party transactions or adviser‑affiliate securities ownership by Independent Board Members, reducing conflict risk .
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Potential concerns/monitoring points:
- Alignment: No direct MYN common share ownership disclosed for Hubbard (as of 12/31/2024), which may modestly weaken “skin‑in‑the‑game” signaling at the fund level despite broader Supervised Funds exposure .
- Time‑commitment risk: Oversight of 66 RICs/101 portfolios suggests a substantial governance workload that warrants continued monitoring for effectiveness .
- Activism backdrop: Presence of 5% holders (e.g., Karpus at 5.27% of MYN) and standstill agreements with Karpus and Saba through 2027 reflect an active governance environment and the Board’s preference for negotiated stability; investors should monitor any post‑standstill dynamics .
No committee assignments, attendance rates, or director compensation details are disclosed in this proxy; therefore, those items are not included.