Amy Lancellotta
About Amy B. R. Lancellotta
Amy B. R. Lancellotta (born 1959) is an Independent Board Member who has served since 2021, with a current term running until the 2026 annual shareholder meeting; she oversees 217 portfolios across the Nuveen fund complex . She previously served as Managing Director of the Independent Directors Council (IDC) from 2006–2019 and held various roles at the Investment Company Institute (ICI) from 1989–2006, bringing deep U.S. ’40 Act governance expertise; she also serves as President (since 2023) and Board Member (since 2020) of the Jewish Coalition Against Domestic Abuse (JCADA) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Independent Directors Council (IDC) | Managing Director | 2006–2019 | Led fund independent director policy and education community within ICI |
| Investment Company Institute (ICI) | Various positions | 1989–2006 | Mutual fund regulatory and policy experience |
| College Retirement Equities Fund (CREF) | Trustee; Chairman | Trustee 2011–2023; Chair 2017–2023 | Board leadership at a large retirement investment complex |
| TIAA-Separate Account VA-1 | Manager; Chairman | Manager 2011–2023; Chair 2017–2023 | Oversight of variable annuity separate account |
| Cottage Health System | Member | 2012–2020 | Non-profit health system governance |
| Crane Country Day School | Board Member; President | Board 2009–2019; President 2014–2018 | Education non-profit governance |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Jewish Coalition Against Domestic Abuse (JCADA) | President; Board Member | President since 2023; Board since 2020 | Current non-profit leadership |
Board Governance
- Board structure: Unitary board across the Nuveen fund complex with an independent Board Chair; emphasis on diversity of skills and perspectives and efficient complex-wide oversight .
- Independence: All key committees (Audit; Nominating & Governance; Investment) are composed entirely of Independent Board Members, meeting NYSE/NASDAQ and SEC independence requirements .
- Committee assignments and roles:
- Investment Committee: Co-Chair (with Joseph A. Boateng) .
- Audit Committee: Member .
- Dividend Committee: Member .
- Nominating & Governance Committee: Member .
- Attendance: Each Board Member attended at least 75% of Board and applicable committee meetings during the last fiscal year .
Committee Meeting Cadence (New York Quality Income – last fiscal year)
| Meeting Type | Count |
|---|---|
| Regular Board Meetings | 4 |
| Special Board Meetings | 7 |
| Executive Committee Meetings | 3 |
| Dividend Committee Meetings | 10 |
| Compliance, Risk Mgmt & Regulatory Oversight Committee Meetings | 4 |
| Audit Committee Meetings | 14 |
| Nominating & Governance Committee Meetings | 6 |
| Investment Committee Meetings | 3 |
| Closed-End Fund Committee Meetings | 4 |
Fixed Compensation
- Structure effective January 1, 2025:
- Annual retainer: $350,000; Committee membership retainers: Audit $35,000; Compliance/Risk $35,000; Investment $30,000; Dividend $25,000; Nominating & Governance $25,000; Closed-End Funds $25,000. Committee chair retainers: Audit $35,000; Compliance/Risk $35,000; Investment Chair/Co-Chair $30,000; Dividend $25,000; Nominating & Governance $25,000; Closed-End Funds $25,000; Board Chair $150,000 .
- Prior structure (2024 calendar year into 2024): Annual retainer $350,000 with lower membership retainers (e.g., Audit/Compliance $30,000; Investment $20,000; Dividend/N&G/Closed-End $20,000); Board Chair/Co-Chair $140,000; various ad hoc fees .
Aggregate Compensation Paid (Fund-level and Total)
| Item | Amount |
|---|---|
| Compensation from New York Quality Income – Fiscal Year | $1,909 |
| Compensation from New York Quality Income – “Stub” Period (Mar 1–Aug 31, 2024) | $805 |
| Total Compensation from Nuveen Funds (All Funds) | $469,250 |
- Deferred Compensation Plan: Independent Board Members may defer fees into fund-linked bookkeeping accounts with distributions in lump sum or over 2–20 years; no retirement or pension plans .
Performance Compensation
- The proxy discloses retainers and committee fees as the components of Independent Board Member compensation; no equity grants, options, or performance-based metrics are described for directors .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company directorships | None disclosed for the past five years |
| Other directorships (last five years) | JCADA (non-profit) – President since 2023, Board since 2020 |
| Prior investment entity boards | CREF Trustee (2011–2023); TIAA Separate Account VA-1 Manager (2011–2023) and Chair (2017–2023) |
| Interlocks/related entities | No related-party holdings are listed for Lancellotta in the table of board members owning securities of companies under common control; the only such disclosure pertains to another director (Thomas J. Kenny) . |
Expertise & Qualifications
- Fund governance and regulatory expertise from senior leadership at IDC and long tenure at ICI .
- Demonstrated board leadership (Chair roles at CREF and TIAA Separate Account VA-1) .
- Active oversight in investment risk and performance as Co-Chair of the Investment Committee; Audit Committee member for financial reporting and valuation oversight .
Equity Ownership
| Item | Detail |
|---|---|
| Ownership guideline | Each Board Member is expected to invest at least the equivalent of one year of compensation in funds in the Fund Complex (directly or on a deferred basis) . |
| Beneficial ownership concentration | As of June 20, 2025, each Board Member’s holdings in each Fund were less than 1% of outstanding shares; group holdings also less than 1% . |
| Deferred compensation (illustrative) – New York Quality Income | Deferred fees payable: Fiscal Year $667; “Stub” Period $266 (Amy B. R. Lancellotta column) . |
Governance Assessment
- Strengths:
- Independent director with deep mutual fund governance credentials; serves as Co-Chair of the Investment Committee and member of the Audit and Nominating & Governance Committees, reflecting broad oversight across performance, risk, and controls .
- Committee independence meets NYSE/NASDAQ and SEC standards; unitary board with independent Chair supports governance effectiveness across the complex .
- Attendance threshold met (≥75%) in the last fiscal year, and strong committee meeting cadence at the Fund level supports active oversight (e.g., 14 Audit Committee meetings) .
- Incentives and alignment:
- Compensation is cash retainer and committee fee-based with the ability to defer; Board policy expects investment equal to one year of compensation in complex funds to align interests .
- Conflicts and red flags:
- No related-party transactions or holdings are disclosed for Lancellotta in the proxy’s conflict-related tables; Section 16(a) filing compliance noted by the Funds for the last fiscal year .
- Effective January 1, 2025, committee membership and chair retainers increased (e.g., Audit membership to $35,000), which is transparent and complex-wide; investors should monitor total time commitments and potential workload given the unitary structure and portfolio count .
Overall, Lancellotta’s profile indicates a seasoned independent director with strong ’40 Act governance expertise, meaningful committee responsibilities (including Investment Committee Co-Chairmanship), and disclosed alignment expectations via ownership guidelines and optional fee deferrals, with no specific conflict red flags disclosed in the latest proxy .