Brett Black
About Brett Black
Brett E. Black serves as Vice President and Chief Compliance Officer (CCO) of the Nuveen Arizona Quality Municipal Income Fund (NAZ); his term is indefinite and his length of service is since 2022. He was born in 1972 and is currently Managing Director and Chief Compliance Officer of Nuveen; previously he was Vice President (2014–2022) and Chief Compliance Officer & Anti-Money Laundering Compliance Officer (2017–2022) of BMO Funds, Inc. . The Funds have no employees and officers serve without compensation from the Funds; the CCO’s compensation is paid by the Adviser with the Funds reimbursing an allocable portion of the Adviser’s cost of the CCO’s incentive compensation . Fund performance oversight is handled by Board committees (Investment Committee and Closed-End Fund Committee), not tied to named officer metrics in the proxy .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BMO Funds, Inc. | Vice President | 2014–2022 | Not disclosed |
| BMO Funds, Inc. | Chief Compliance Officer & Anti-Money Laundering Compliance Officer | 2017–2022 | Not disclosed |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Managing Director, Chief Compliance Officer | Since 2022 | Not disclosed |
Fixed Compensation
| Item | Disclosure | Notes |
|---|---|---|
| Compensation from Funds | None | The Funds have no employees; officers serve without any compensation from the Funds . |
| CCO compensation source | Paid by Nuveen Fund Advisors, LLC (the Adviser) | Funds reimburse an allocable portion of the Adviser’s cost of the CCO’s incentive compensation . |
| Base salary / Target bonus / Actual bonus | Not disclosed by the Fund | Officer-level detail is not included in the proxy . |
| Deferred compensation / Pension / SERP / Perquisites | Not disclosed by the Fund | Officer-level detail is not included in the proxy . |
Performance Compensation
- No performance-based award structures (RSUs, PSUs, options) or payout mechanics for fund officers are disclosed in the proxy; officer compensation is paid by the Adviser and is not itemized in this filing .
Equity Ownership & Alignment
| Item | Value | As-of Date |
|---|---|---|
| Beneficial ownership by Board Members and executive officers as a group (each Fund) | Less than 1% of outstanding shares | October 22, 2025 |
| Individual officer (Brett Black) ownership (NAZ) | Not disclosed in proxy | October 22, 2025 |
| Section 16(a) compliance | All applicable filings were compliant in the last fiscal year | Proxy year |
| Shares pledged as collateral | Not disclosed | Proxy year |
| Stock ownership guidelines for officers | Not disclosed | Proxy year |
| Board Member ownership guideline | Each Board Member is expected to invest at least one year of compensation in Nuveen funds | October 22, 2025 |
Employment Terms
| Term | Details |
|---|---|
| Fund Officer Title | Vice President and Chief Compliance Officer |
| Term of Office | Indefinite; officers are elected annually by the Board to serve until successors are elected and qualified |
| Length of Service | Since 2022 |
| Employment agreement | Not disclosed in Fund filings |
| Severance / Change-in-control | Not disclosed in Fund filings |
| Non-compete / Non-solicit / Garden leave | Not disclosed in Fund filings |
| Role in compliance governance | The Compliance, Risk Management and Regulatory Oversight Committee meets quarterly, receives written/oral reports from the CCO, and the CCO provides an annual report to the full Board |
Investment Implications
- Pay-for-performance assessment is constrained: the proxy states officers receive no compensation from the Funds and provides no officer-level details (salary, bonus, equity), as compensation is paid by the Adviser; thus fund-level incentives and performance metrics for Brett Black are not disclosed here .
- Alignment via share ownership at the Fund level appears limited: Board Members and executive officers as a group beneficially owned less than 1% of outstanding shares of each Fund as of October 22, 2025, although Board Members are expected to invest at least one year of compensation in Nuveen funds; officer-specific ownership and any pledging/hedging are not disclosed .
- Compliance oversight is structurally strong: the Compliance Committee’s quarterly cadence, private sessions, and annual CCO report suggest robust governance around risk, but these are not trading signals per se and do not substitute for compensation alignment data .
- Monitoring priorities: watch future proxies and Section 16 filings for officer-specific ownership and any 10b5‑1 activity; seek Adviser-level disclosures for compensation structure, severance, and change-of-control terms to evaluate retention risk and incentive alignment .