Albin Moschner
About Albin F. Moschner
Independent director of the Nuveen closed-end funds complex since 2016; year of birth 1952. Founder and CEO of Northcroft Partners, LLC (management consulting) since 2012; previously COO and CMO of Leap Wireless, President at Verizon Card Services and One Point Communications, and CEO of Zenith Electronics; B.E. in Electrical Engineering (City College of New York, 1974) and M.S. in Electrical Engineering (Syracuse University, 1979) . He oversees 217 portfolios in the fund complex and is a nominee for preferred-shareholders’ election in applicable funds; board classification varies by fund class (Class II/III) through the 2027 annual meeting for funds without preferred shares .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Northcroft Partners, LLC | Founder & CEO | 2012–present | Management consulting; operational, management and governance solutions . |
| Leap Wireless International, Inc. | COO; CMO; Consultant | 2004–2012 | Senior operating and marketing leadership in wireless services . |
| Verizon Communications, Inc. | President, Verizon Card Services | 2000–2003 | Led card services division . |
| One Point Communications | President, One Point Services | 1999–2000 | Led service operations . |
| Zenith Electronics Corporation | CEO; President & COO; Director | 1994–1996 | Chief executive; prior senior operating roles in consumer electronics . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| USA Technologies, Inc. | Chairman (2019); Director | 2012–2019 | Payments/transaction services; board leadership experience . |
| Wintrust Financial Corporation | Director | 1996–2016 | Regional banking; long-tenured public company directorship . |
| Kellogg School of Management | Advisory Board (emeritus) | 1995–2018 | Advisory governance experience . |
| Archdiocese of Chicago Financial Council | Advisory Board (emeritus) | 2012–2018 | Financial oversight advisory . |
Board Governance
- Independence: Listed as a Board Member “who is not an interested person” and serves on committees composed entirely of Independent Board Members .
- Committee assignments and chair roles:
- Closed-End Fund Committee – Chair .
- Investment Committee – Member .
- Compliance, Risk Management & Regulatory Oversight Committee – Member .
- Nominating & Governance Committee – Member .
- Not on the Audit Committee (members are Nelson (Chair), Boateng, Lancellotta, Starr, Thornton, Wolff, Young) .
- Attendance: Each Board Member attended at least 75% of Board and applicable committee meetings in the last fiscal year .
- Election class/tenure: For funds with Preferred Shares, he is a nominee to be elected by holders of Preferred Shares for a one-year term; for funds without Preferred Shares, he is a Class II/III Board Member with term through the 2027 annual meeting .
- Ownership expectation: Governance principle expects each Board Member to invest at least one year of compensation in the Nuveen fund complex (directly or via deferral) .
Fixed Compensation
Compensation framework has transitioned from per-meeting fees (pre-2024) to primarily annual retainers and committee retainers (2024), with increases effective 2025.
| Component | Through 2023 | Calendar 2024 | Effective Jan 1, 2025 |
|---|---|---|---|
| Annual Board Retainer ($) | 210,000 | 350,000 | 350,000 |
| Audit Committee – Member Retainer ($) | Per-meeting (2,500) | 30,000 | 35,000 |
| Compliance Committee – Member Retainer ($) | Per-meeting (5,000) | 30,000 | 35,000 |
| Investment Committee – Member Retainer ($) | Per-meeting (2,500) | 20,000 | 30,000 |
| Nominating & Governance – Member Retainer ($) | Per-meeting (500) | 20,000 | 25,000 |
| Closed-End Fund Committee – Member Retainer ($) | Per-meeting (2,500) | 20,000 | 25,000 |
| Board Chair Additional Retainer ($) | 140,000 | 140,000 | 150,000 |
| Committee Chair Additional Retainers ($) | Audit/Compliance 30,000; Inv/Div/Nom/CEF 20,000 | Same | Audit/Compliance 35,000; Investment 30,000; Div/Nom/CEF 25,000 |
| Ad hoc meeting fees ($) | N/A | 1,000 or 2,500 per meeting | 1,000 or 2,500 per meeting |
| Deferred Compensation Plan | Available (notional investment in eligible funds) | Available | Available |
Latest reported total compensation from all Nuveen funds (individual): $481,250 (Albin F. Moschner) .
Fund-specific allocation (NAN – New York Quality Income):
| Period | Aggregate Compensation from the Fund ($) |
|---|---|
| FY 2024 | 2,077 |
| Stub Period (Mar 1–Aug 31, 2024) | 817 |
Performance Compensation
| Element | Disclosed? | Details |
|---|---|---|
| Performance-based bonus/targets | No | Independent Board Members are paid retainers and committee fees; no performance metrics or bonus plans disclosed . |
| Equity awards (RSUs/PSUs/options) | No | No stock/option awards for independent directors disclosed; optional deferred compensation only . |
| Clawback, severance, CoC terms | No | Not applicable to independent directors in this fund complex . |
Other Directorships & Interlocks
| Company | Role | Tenure | Interlock/Conflict Notes |
|---|---|---|---|
| USA Technologies, Inc. | Chairman (2019); Director | 2012–2019 | No interlocks with Nuveen/TIAA disclosed . |
| Wintrust Financial Corporation | Director | 1996–2016 | No interlocks with Nuveen/TIAA disclosed . |
No related-party transactions or securities holdings in adviser-affiliated private companies were disclosed for Mr. Moschner; a separate disclosure table lists another director (Kenny) but not Mr. Moschner .
Expertise & Qualifications
- Wireless/telecom operating leadership (COO/CMO Leap Wireless) and consumer electronics CEO experience (Zenith) .
- Capital markets and payments exposure (chairman/director USA Technologies; director Wintrust Financial) .
- Governance depth as Chair of the Closed-End Fund Committee; member of compliance, nominating, and investment committees .
- Not designated an “audit committee financial expert” (designations held by Boateng, Nelson, Starr, Young) .
- Engineering education (EE B.E. CCNY; M.S. Syracuse) .
Equity Ownership
| Item | NAN (New York Quality Income) | Other Select Funds | Aggregate in Nuveen Fund Family |
|---|---|---|---|
| Dollar range owned | $0 | Municipal High Income: $50,000–$100,000 | Over $100,000 |
| Shares owned (as of May 31, 2025) | 0 | Municipal High Income: 7,136 | N/A (aggregate range only) |
| Ownership % of outstanding shares | <1% (each director for each fund) | <1% | N/A |
| Deferred compensation balance | $0 allocated to his account across participating funds in periods shown | $0 | N/A |
| Shares pledged as collateral | Not disclosed | Not disclosed | Not disclosed |
Note: Board principle expects at least one year of compensation invested in the fund complex (direct or deferred); actual dollar ranges are disclosed as “Over $100,000,” so compliance cannot be determined from ranges alone .
Governance Assessment
- Strengths and signals
- Chair of Closed-End Fund Committee with a mandate to evaluate discounts, leverage, repurchases, and market dynamics—indicates active oversight of CEF-specific value drivers .
- Broad independent committee participation (Investment; Compliance; Nominating/Governance) and 75%+ attendance underpin engagement and independence .
- Significant operating experience across telecom and electronics enhances oversight of risk, operations, and capital allocation for fund strategies .
- Alignment and potential concerns
- No direct ownership in NAN (0 shares; $0 range), though he holds $50,000–$100,000 in another Nuveen fund and an aggregate “Over $100,000” across the family; investors may prefer a direct stake in the specific fund overseen, but the board’s ownership policy applies to the complex as a whole .
- Not designated an audit committee financial expert; however, he is not on the Audit Committee, which has multiple designated financial experts .
- No related-party transactions, loans, hedging/pledging, or conflicts disclosed—clean from a conflicts perspective .
- Pay design
- Director pay is fixed-fee based (board and committee retainers) with optional deferral; no incentive or equity awards—neutral for pay-for-performance but consistent with best practices for fund boards .
- Latest total compensation from Nuveen funds is $481,250—appropriate for scope (217 portfolios) and multiple committee responsibilities including a chair role .
Overall view: Independent, engaged, and experienced committee chair with no disclosed conflicts. Direct holding in NAN is $0, but aggregate family holdings exceed $100,000 and the board’s policy emphasizes complex-level ownership; continued monitoring of complex-level ownership relative to “one-year compensation” expectation is warranted given disclosure ranges .