Brett Black
About Brett Black
Brett E. Black (born 1972) serves as Vice President and Chief Compliance Officer (CCO) of Nuveen New York Quality Municipal Income Fund (NAN) and related Nuveen closed‑end funds; he has held this officer role since 2022. He is Managing Director and CCO at Nuveen, and previously was Vice President (2014–2022), CCO and Anti‑Money Laundering Compliance Officer (2017–2022) of BMO Funds, Inc. . As a closed‑end fund, NAN has no employees; officers receive no compensation from the Fund, and the CCO’s compensation (base plus incentive) is paid by the Adviser (Nuveen), with the Funds reimbursing an allocable portion of the Adviser’s cost of the CCO’s incentive compensation; performance metrics and payout details are not disclosed at the Fund level . The CCO provides quarterly written and oral reports and meets privately with the Board’s Compliance, Risk Management and Regulatory Oversight Committee, underscoring his central role in risk oversight for the Funds .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Managing Director; Chief Compliance Officer | Not disclosed; current | Leads compliance program across Nuveen complex; serves as officer of Funds |
| BMO Funds, Inc. | Vice President; Chief Compliance Officer; Anti‑Money Laundering Compliance Officer | 2014–2022 (VP); 2017–2022 (AMLCO) | Led fund complex compliance and AML programs |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed in Fund proxies | — | — | — |
Fixed Compensation
| Component | Amount/Terms | Source | Notes |
|---|---|---|---|
| Officer compensation from Fund | $0 | Fund | “The Funds have no employees. The officers of the Funds serve without any compensation from the Funds.” |
| CCO compensation (base + incentive) | Not disclosed | Adviser (Nuveen) | Paid by Adviser; Board provides review and input on CCO compensation |
| Reimbursement of CCO incentive comp | Allocable portion reimbursed by Funds | Fund/Adviser | Funds reimburse the Adviser for an allocable portion of the CCO’s incentive compensation cost |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| CCO incentive compensation (Adviser‑paid) | Not disclosed | Not disclosed | Not disclosed | Not disclosed at Fund level | No vesting schedule disclosed at Fund level |
Performance metrics tied to Brett Black’s compensation (e.g., revenue growth, EBITDA, TSR) are not disclosed by the Fund; officer compensation and incentive structure exist at the Adviser and are not itemized in Fund filings .
Equity Ownership & Alignment
| Holder | Shares Owned in NAN | Ownership % | Vested vs Unvested | Options (Exercisable/Unexercisable) | Pledged Shares | Notes |
|---|---|---|---|---|---|---|
| Brett Black (individual) | Not disclosed | — | — | — | — | Officers’ individual holdings are not itemized in proxy; group totals provided |
| Board Members & Officers as a group (NAN) | 0 (as of May 31, 2024 and May 31, 2025) | <1% of outstanding (group across Funds); specifically 0 for NAN | — | — | — | Group beneficial ownership of each Fund’s shares is less than 1%; NAN group holdings shown as 0 |
Stock ownership guidelines disclosed relate to Independent Board Members (expected to invest at least one year of compensation); officer ownership guidelines and compliance status are not disclosed .
Employment Terms
| Item | Detail | Source |
|---|---|---|
| Officer start date (Fund complex) | Brett E. Black serves as officer since 2022 | |
| Term | Indefinite; officers are elected annually by the Board to serve until successors are elected and qualified | |
| Contract term, severance, change‑of‑control | Not disclosed at Fund level | — |
| Non‑compete / Non‑solicit / Garden leave | Not disclosed | — |
| Clawback provisions | Not disclosed for officers; Board committees oversee compliance and risk | |
| Reporting line | CCO provides quarterly reports; meets privately with Compliance Committee each quarter |
Board Governance (context for CCO)
- The Compliance, Risk Management and Regulatory Oversight Committee oversees compliance, risk management and regulatory matters; it meets quarterly, receives written/oral reports from the CCO, and meets privately with the CCO at each quarterly meeting .
- Officers (including the CCO) are elected annually by the Board and receive no compensation from the Funds; the Board provides review and input on the CCO’s compensation paid by the Adviser .
Investment Implications
- Compensation alignment: At the Fund level, officer compensation is not paid by the Fund and performance metrics/payouts are not disclosed; thus pay‑for‑performance analysis for Brett Black cannot be performed from Fund filings. The Board’s review/input on CCO compensation and quarterly private sessions indicate robust compliance governance rather than equity‑linked incentives .
- Insider selling pressure: Officers do not receive Fund‑paid equity awards; group beneficial ownership in NAN is 0, limiting any signal from insider holdings or selling; pledging/hedging by officers is not disclosed .
- Retention risk: Officers serve at the pleasure of the Board with indefinite terms; no employment contracts, severance or change‑of‑control economics are disclosed—retention levers appear to reside with the Adviser (Nuveen), not the Fund .
- Trading signals: Given the closed‑end fund structure and absence of disclosed executive incentive metrics/equity awards at the Fund, traditional executive‑specific signals (option repricing, PSU outcomes, pledged shares) are unavailable. Governance strength is evidenced by the Compliance Committee’s structure and CCO reporting cadence, but this is not directly tradable without adviser‑level disclosures .