Joseph T. Castro
About Joseph T. Castro
Joseph T. Castro (born 1964) is Vice President of Nuveen Quality Municipal Income Fund (NAD) with an indefinite term and service since 2025; his business address is 333 West Wacker Drive, Chicago, IL 60606 . His principal occupation over the past five years is Executive Vice President, Chief Risk and Compliance Officer at Nuveen; formerly Senior Managing Director and Head of Compliance, with Senior Managing Director roles across Nuveen Fund Advisors, LLC, Nuveen Securities, LLC and Nuveen, LLC . Officers of the Fund receive no compensation from the Fund itself—remuneration is paid by the Adviser or affiliates—so fund-level pay-for-performance metrics (e.g., TSR, revenue/EBITDA growth tied to pay) are not disclosed for officers in Fund filings . Recovery of erroneously awarded compensation is marked “Not applicable” in the Fund’s semiannual report .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Executive Vice President, Chief Risk and Compliance Officer | Past five years (per proxy) | Not disclosed |
| Nuveen | Senior Managing Director and Head of Compliance | Past five years (per proxy) | Not disclosed |
| Nuveen Fund Advisors, LLC; Nuveen Securities, LLC; Nuveen, LLC | Senior Managing Director | Past five years (per proxy) | Not disclosed |
External Roles
- Not disclosed in NAD proxy filings reviewed .
Fixed Compensation
| Component | Detail |
|---|---|
| Compensation Source | Officers receive no compensation from the Fund; paid by Adviser/affiliates |
| Base Salary | Not disclosed in Fund filings (compensation resides at Adviser level) |
| Target Bonus % | Not disclosed in Fund filings |
| Actual Bonus Paid | Not disclosed in Fund filings |
| Perquisites | Not disclosed in Fund filings |
Performance Compensation
| Provision / Metric | Status |
|---|---|
| Recovery of Erroneously Awarded Compensation (Clawback) | Not applicable (semiannual report) |
| Performance Metrics tied to pay (e.g., revenue, EBITDA, TSR, ESG) | Not disclosed for officers at the Fund (officers are compensated by Adviser) |
| Vesting schedules (RSUs/PSUs/options) | Not disclosed in Fund filings |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Individual Officer Holdings (Castro) | Not itemized; Fund reports officer holdings only in aggregate with Board members |
| Board Members and Officers as a Group – % of Outstanding Shares | Less than 1% of each Fund’s outstanding shares (as of June 20, 2025) |
| Board Members and Officers as a Group – NAD (“Quality Income”) Shares | 35,764 shares as of May 31, 2025 |
| Stock Ownership Guidelines (Board) | Governance principle expects Board Members to invest at least one year of compensation in the Fund Complex |
| Shares Pledged / Hedging | Not disclosed in Fund filings |
Note: Searches of NAD Section 16 filings did not return a Form 3/4 for Joseph T. Castro; sample filings for other NAD officers frequently state “No securities are beneficially owned,” indicating minimal officer-level direct holdings in the Fund historically .
Employment Terms
| Term | Detail |
|---|---|
| Position | Vice President |
| Start Date / Tenure | Since 2025 |
| Term Length | Indefinite; officers elected annually by the Board and serve until successors are elected and qualified |
| Compensation Contract Terms | Not disclosed at the Fund level (officers compensated by Adviser) |
| Severance / Change-of-Control | Not disclosed in Fund filings |
| Non-Compete / Non-Solicit | Not disclosed in Fund filings |
| Garden Leave / Post-termination | Not disclosed in Fund filings |
Investment Implications
- Pay-for-performance analysis at the Fund level is not applicable for officers: compensation resides at the Adviser (Nuveen/TIAA) and is not detailed in Fund filings; therefore base/bonus/equity metrics, vesting, severance, and CoC economics for Castro are not available in NAD documents .
- Ownership alignment at the Fund level appears limited: individual officer holdings are not itemized and group beneficial ownership is less than 1% of outstanding shares; the group held 35,764 shares of Nuveen Quality Municipal Income Fund as of May 31, 2025 .
- Governance and risk oversight are formalized via the Board’s Compliance, Risk Management and Regulatory Oversight Committee, which meets quarterly, receives reports from the Funds’ CCO, and oversees liquidity, leverage, derivatives, and operational risks—contextual to Castro’s risk/compliance leadership role at Nuveen but not a direct compensation lever at the Fund .
- Board consolidation (effective January 1, 2024) aligned oversight across the Fund Complex; while not specific to officer incentives, it may streamline governance and risk management interfaces with Nuveen senior management, including compliance leadership .