Marc Cardella
Vice President and Controller (Principal Financial Officer) at NUVEEN NEW YORK QUALITY MUNICIPAL INCOME FUND
Executive
About Marc Cardella
Marc Cardella is Vice President and Controller (Principal Financial Officer) of Nuveen New York Quality Municipal Income Fund (NAN), serving since 2024; his business address is 8500 Andrew Carnegie Blvd, Charlotte, NC 28262, and he was born in 1984 . He is Senior Managing Director and Head of Public Investment Finance at Nuveen, with senior managing director roles at Nuveen Fund Advisors, LLC, Nuveen Asset Management, LLC, Teachers Advisors, LLC and TIAA‑CREF Investment Management, LLC; he is also Managing Director of Teachers Insurance and Annuity Association of America and TIAA SMA Strategies LLC, and serves as Principal Financial Officer, Principal Accounting Officer and Treasurer of TIAA Separate Account VA‑1 and the College Retirement Equities Fund . Officers of the Funds receive no compensation from the Funds, so fund-level pay metrics, TSR, revenue or EBITDA-based incentive linkages are not disclosed in NAN’s filings .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen New York Quality Municipal Income Fund (NAN) | Vice President and Controller (Principal Financial Officer) | Since 2024 | Principal Financial Officer responsibilities for the Fund |
| Nuveen | Senior Managing Director; Head of Public Investment Finance | Not disclosed | Oversight of public investment finance across Nuveen |
| Nuveen Fund Advisors, LLC; Nuveen Asset Management, LLC; Teachers Advisors, LLC; TIAA‑CREF Investment Management, LLC | Senior Managing Director | Not disclosed | Senior finance and control leadership across affiliated advisers |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Teachers Insurance and Annuity Association of America (TIAA) | Managing Director | Not disclosed | Senior leadership within TIAA’s investment complex |
| TIAA SMA Strategies LLC | Managing Director | Not disclosed | Management oversight within TIAA SMA platform |
| TIAA Separate Account VA‑1 | Principal Financial Officer, Principal Accounting Officer, Treasurer | Not disclosed | Financial reporting and control responsibilities for separate account product |
| College Retirement Equities Fund (CREF) | Principal Financial Officer, Principal Accounting Officer, Treasurer | Not disclosed | Financial stewardship for CREF registered products |
Fixed Compensation
- Officers receive no compensation from the Funds; NAN’s proxy does not disclose base salary, bonus, or other cash compensation for officers (compensation is paid by Nuveen/TIAA affiliates and not reported at the Fund level) .
Performance Compensation
- No Fund-level disclosure of RSUs/PSUs, option awards, performance metrics, vesting schedules, severance, change‑of‑control, clawback provisions, or ownership guidelines for officers; NAN proxies consistently state officers are unpaid by the Funds .
Equity Ownership & Alignment
| Holder | NAN Shares Owned | Notes |
|---|---|---|
| All Board Members/Nominees and Officers as a Group | 35,764 (Quality Income) | Aggregate group holdings across NAN; individual officer (incl. Cardella) holdings are not itemized |
| All Board Members/Nominees and Officers as a Group | 0 (New York Quality Income – dollar range table shows $0 for most board members; group aggregate shown separately) | Appendix A dollar ranges are provided for board members; officers’ individual dollar ranges are not disclosed |
| All Board Members/Nominees and Officers as a Group | 497 (Taxable Income) | Group holdings across the complex; not specific to Cardella |
- No disclosures of shares pledged as collateral, hedging activity, or individual officer ownership breakdowns for Cardella; Section 16(a) compliance noted with no delinquent filings in 2025 and a prior late Form 4 by another officer (David Lamb) in 2024, not involving Cardella .
Employment Terms
| Item | Disclosure |
|---|---|
| Election & Term | Officers are elected annually by the Board and serve until successors are elected and qualified; term is indefinite . |
| Tenure in Role | Officer of the Funds since 2024 . |
| Compensation Source | Officers receive no compensation from the Funds (compensation paid by adviser/affiliates and not disclosed at Fund level) . |
| Contracts/Severance/Change‑of‑Control | Not disclosed in NAN filings . |
| Clawbacks/Ownership Guidelines | Not disclosed in NAN filings . |
Investment Implications
- Pay-for-performance alignment at the Fund level is not applicable; officer compensation is borne by Nuveen/TIAA affiliates and not reported in NAN filings, limiting visibility into Cardella’s incentive mix, vesting, and performance metrics from an investor in NAN’s shares .
- Insider selling pressure appears minimal: NAN proxies provide aggregate group ownership but do not itemize officer holdings; 2025 filings note Section 16 compliance with no delinquent reports, and the only late filing cited in 2024 related to a different officer, not Cardella .
- Retention risk at the Fund level is structurally low—officers have indefinite terms and are elected annually—but actual retention levers (contracts, severance, change‑of‑control) sit with Nuveen/TIAA and are not disclosed in NAN documents, constraining analysis of personal economics and mobility incentives .
- Governance continuity: Cardella’s PFO role began in 2024; officer roles are drawn from experienced Nuveen/TIAA senior managers, supporting operational stability, though the lack of individual ownership and incentive disclosure reduces transparency into personal alignment with NAN’s trading performance .