John Nelson
About John K. Nelson
Independent Board Member of Nuveen Arizona Quality Municipal Income Fund (NAZ); Class II term through the 2026 annual shareholder meeting; service on the Nuveen fund boards since 2013; born 1962. Nelson holds a BA in Economics and an MBA in Finance from Fordham University, and has deep global banking/markets experience including CEO of ABN AMRO N.V. North America and Global Head of the Financial Markets Division .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ABN AMRO N.V. North America | Chief Executive Officer | 2007–2008 | Led North America; represented bank on committees of Bank of Canada, ECB, Bank of England; member of U.S. Federal Reserve Foreign Exchange Committee |
| ABN AMRO Bank N.V. | Global Head, Financial Markets Division; various executive leadership roles | 1996–2007 | Oversaw Currency, Commodity, Fixed Income, Emerging Markets, Derivatives businesses |
| Deloitte Consulting LLP | Senior External Advisor, Financial Services practice | 2012–2014 | External advisory role |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Core12, LLC (private) | Director | 2008–2023 | Branding/marketing communications firm |
| Fordham University – President’s Council | Director | 2010–2019 | University advisory role |
| Fordham University – Curran Center for Catholic American Studies | Director | 2009–2018 | University center governance |
| Marian University | Trustee; Chairman of Board of Trustees | 2011–2013 | Board leadership |
Board Governance
- Independence: Nelson is an Independent Board Member and designated “audit committee financial expert” under SEC rules .
- Committee leadership and memberships:
- Audit Committee: Chair; members are all Independent Board Members .
- Executive Committee: Member (Chair: Robert L. Young) .
- Dividend Committee: Member (Chair: Matthew Thornton III) .
- Closed-End Fund Committee: Member (Chair: Albin F. Moschner) .
- Nominating & Governance Committee: Member (Chair: Robert L. Young) .
- Investment Committee: Member (Co-Chairs: Joseph A. Boateng and Amy B.R. Lancellotta) .
- Attendance: Each Board Member attended 75% or more of Board and applicable committee meetings in the last fiscal year .
- Board structure: Unitary board across the Nuveen fund complex; Independent Chair of the Board is Robert L. Young; Nelson oversees 220 portfolios under this structure .
Fixed Compensation
Retainer and fees framework (Independent Board Members; fund-complex level):
| Component | Effective Jan 1, 2025 | Prior to Jan 1, 2025 |
|---|---|---|
| Base annual retainer | $350,000 | $350,000 |
| Audit Committee membership | $35,000 | $30,000 |
| Compliance, Risk Mgmt & Regulatory Oversight Committee membership | $35,000 | $30,000 |
| Investment Committee membership | $30,000 | $20,000 |
| Dividend Committee membership | $25,000 | $20,000 |
| Nominating & Governance Committee membership | $25,000 | $20,000 |
| Closed-End Fund Committee membership | $25,000 | $20,000 |
| Board Chair additional retainer | $150,000 | $140,000 |
| Audit Committee Chair | $35,000 | $30,000 |
| Compliance Committee Chair | $35,000 | $30,000 |
| Investment Committee Chair | $30,000 | $20,000 |
| Dividend/Nominating/Closed-End Committee Chair | $25,000 | $20,000 |
| Ad hoc meeting fee | $1,000 or $2,500 (length/immediacy-dependent) | $1,000 or $2,500 |
| Special assignment committees (Chair/Co-Chair) | Quarterly fee starting $1,250 | Quarterly fee starting $1,250 |
| Special assignment committees (Member) | Quarterly fee starting $5,000 | Quarterly fee starting $5,000 |
Aggregate compensation paid (last fiscal year):
| Measure | Amount |
|---|---|
| NAZ (Arizona Quality) – Aggregate compensation to John K. Nelson | $636 |
| Total compensation from Nuveen funds paid to John K. Nelson (Fund Complex) | $483,250 |
Deferred compensation plan:
- Independent Board Members may elect to defer fees into a book reserve account notionally invested in eligible Nuveen funds, with distributions as a lump sum or over 2–20 years; no retirement/pension plans .
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None disclosed in the past five years |
| Private/non-profit boards | Core12 LLC (private); Fordham University (President’s Council; Curran Center); Marian University (Chair/Trustee) |
| Potential interlocks/conflicts | None disclosed related to Nelson in proxy materials |
Expertise & Qualifications
- Designated audit committee financial expert; extensive oversight of financial reporting, valuation, and auditor independence .
- Global markets leadership across FX, commodities, fixed income, emerging markets, and derivatives; former member of Federal Reserve FX Committee; interactions with Bank of Canada, ECB, and Bank of England committees .
- Advanced finance education (MBA Finance) and economics background (BA Economics) .
Equity Ownership
| Holder | Fund | As of 2020-06-30 | As of 2025-10-22 |
|---|---|---|---|
| John K. Nelson | NAZ (Arizona Quality) | 0 | 0 |
Notes:
- The beneficial ownership tables include share equivalents from the Deferred Compensation Plan where applicable; Nelson reported 0 shares for the funds listed, including NAZ, at both dates .
Governance Assessment
- Committee leadership signal: As Audit Committee Chair, Nelson leads oversight of accounting policies, financial reporting integrity, auditor selection/independence, and valuation processes—central to investor confidence in NAV integrity and closed-end fund pricing .
- Independence and expertise: Explicitly independent and designated as an audit committee financial expert, aligning with best-practice governance for closed-end funds .
- Attendance and engagement: Reported ≥75% attendance at Board and committee meetings, meeting the proxy’s threshold for engagement; exact meeting counts in Appendix C (not itemized in the proxy excerpt) .
- Compensation structure: Cash-based retainers and committee chair fees increased effective Jan 1, 2025 (notably Audit/Compliance membership +$5k, Investment +$10k, chair fees +$5–10k), reflecting expanded oversight demands; no equity grants disclosed, typical for fund boards .
- Alignment considerations: Nelson reported 0 shares owned in NAZ, implying limited direct equity alignment in NAZ specifically; a Deferred Compensation Plan provides notional exposure to eligible Nuveen funds but does not create beneficial ownership of NAZ shares .
- Board architecture: Unitary board with Independent Chair and broad portfolio coverage (220 portfolios), potentially enhancing cross-fund risk oversight but diffusing fund-specific ownership alignment across the complex .
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