John K. Nelson
About John K. Nelson
Independent Board Member of Nuveen Dynamic Municipal Opportunities Fund (NDMO); born 1962; board service since 2013; currently designated Class II with term expiring at the 2026 annual meeting. Former CEO, ABN AMRO N.V. North America and Global Head of Financial Markets; prior Senior External Advisor to Deloitte Consulting LLP; oversees 217 portfolios in the Nuveen fund complex; holds a BA in Economics and an MBA in Finance from Fordham University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ABN AMRO Bank N.V. (incl. LaSalle Bank Corp.) | CEO, North America; Global Head, Financial Markets; senior executive roles | 1996–2008 | Global banking/markets leadership; FX Committee member (Federal Reserve); representation on committees at Bank of Canada, ECB, Bank of England |
| Deloitte Consulting LLP | Senior External Advisor (Financial Services) | 2012–2014 | Advisory to FS practice |
| Core12 LLC | Director | 2008–2023 | Branding/marketing private firm board service |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Fordham University | Director, President’s Council | 2010–2019 | University advisory role |
| Curran Center for Catholic American Studies | Director | 2009–2018 | Academic center governance |
| Marian University | Trustee and Chairman of Board | 2011–2013 | Board leadership |
Board Governance
- Independence: Serves as an Independent Board Member; committees composed entirely of Independent Board Members per NYSE/NASDAQ standards .
- Audit Committee Chair and Financial Expert: Chair of Audit Committee; designated “audit committee financial expert” (along with Boateng, Starr, Young) .
- Committee Memberships and Chair Roles:
- Audit Committee – Chair; members: Boateng, Lancellotta, Starr, Thornton, Wolff, Young .
- Executive Committee – Member; Chair: Young; members: Kenny, Nelson, Toth .
- Dividend Committee – Member; Chair: Thornton; members: Lancellotta, Kenny, Nelson, Starr .
- Nominating & Governance Committee – Member; Chair: Young; members include Boateng, Forrester, Kenny, Lancellotta, Medero, Moschner, Nelson, Starr, Thornton, Toth, Wolff .
- Investment Committee – Member; Co-Chairs: Boateng, Lancellotta; includes Nelson .
- Closed-End Fund Committee – Member; Chair: Moschner; includes Kenny, Nelson, Starr, Thornton, Wolff, Young .
- Term and Leadership Context: Class II for NDMO; term to 2026; Independent Board Chair is Robert L. Young .
Meeting Cadence (NDMO last fiscal year)
| Meeting Type | Count |
|---|---|
| Regular Board Meeting | 4 |
| Special Board Meeting | 8 |
| Executive Committee | 4 |
| Dividend Committee | 10 |
| Compliance, Risk Mgmt & Regulatory Oversight | 6 |
| Audit Committee | 14 |
| Nominating & Governance | 5 |
| Investment Committee | 4 |
| Closed-End Fund Committee | 4 |
- Attendance: Each Board Member attended 75% or more of Board and applicable committee meetings during the last fiscal year .
Fixed Compensation
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Structure (effective January 1, 2025):
- Annual retainer: $350,000 .
- Committee membership retainers: Audit $35,000; Compliance $35,000; Investment $30,000; Dividend $25,000; Nominating & Governance $25,000; Closed-End Funds $25,000 .
- Chair retainers: Board Chair $150,000; Audit Chair $35,000; Compliance Chair $35,000; Investment Chair/Co-Chair $30,000; Dividend Chair $25,000; Nominating & Governance Chair $25,000; Closed-End Funds Chair $25,000 .
- Ad hoc meeting fees: $1,000 or $2,500 depending on length/immediacy; special assignment committees paid quarterly fees (Chair from $1,250; members from $5,000) .
- Funds have no retirement or pension plans; independent directors may elect to defer compensation into a Deferred Compensation Plan tied to Nuveen fund shares .
-
Historical (prior periods for context):
- 2023 calendar year: $210,000 annual retainer plus per-meeting fees (e.g., $7,250/day regular Board; $2,500 Audit/Closed-End/Investment; $5,000 Compliance; $1,250 Dividend) and committee chair retainers of $20,000; Board Chair $140,000 .
- Prior to Jan 1, 2025 (2024 calendar year): $350,000 retainer; membership retainers lower than 2025 ($30,000 Audit/Compliance, $20,000 Investment, $20,000 Dividend/Nominating/Closed-End); chair retainers $140,000 Board; $30,000 Audit/Compliance; $20,000 Investment/Dividend/Nominating/Closed-End .
Fund-level compensation
| Item | Amount |
|---|---|
| Aggregate compensation from NDMO (fiscal year ended Oct 31, 2024) | $2,562 |
| Total compensation from Nuveen funds paid to John K. Nelson | $483,250 |
Performance Compensation
| Element | Disclosure | Notes |
|---|---|---|
| Stock awards (RSUs/PSUs) | None disclosed for independent directors | Compensation delivered via cash retainers; optional deferral into fund-linked accounts |
| Option awards | None disclosed for independent directors | Not applicable for fund directors |
| Performance metrics tied to pay (e.g., TSR, EBITDA) | None disclosed | No performance-based pay framework for independent directors |
| Clawback provisions | Not disclosed for directors | Deferred comp terms described; no clawback detail |
Other Directorships & Interlocks
| Company | Type | Role | Tenure |
|---|---|---|---|
| Core12 LLC | Private | Director | 2008–2023 |
| Fordham University (President’s Council) | Academic | Director | 2010–2019 |
| Curran Center for Catholic American Studies | Academic | Director | 2009–2018 |
| Marian University | Academic | Trustee and Board Chair | 2011–2013 |
- No current public company directorships disclosed for Nelson in the past five years section .
Expertise & Qualifications
- Audit committee financial expert designation; deep experience in financial reporting oversight and valuation policy supervision as Audit Committee Chair .
- Global banking and markets leadership (ABN AMRO CEO North America; Global Head Financial Markets) .
- Education: BA Economics; MBA Finance (Fordham University) .
- Oversight scope: 217 portfolios in fund complex under unitary board structure .
- Board model: Unitary board with Independent Chair (Robert L. Young) .
Equity Ownership
| Measure | NDMO (Dynamic Municipal Opportunities) | Fund Complex Aggregate |
|---|---|---|
| Shares beneficially owned | 0 | Not itemized; aggregate dollar range “Over $100,000” in registered investment companies overseen |
| Ownership as % of outstanding | <1% (individual director holdings) | Directors and officers as a group: <1% for each fund |
| Pledged or hedged shares | Not disclosed | Not disclosed |
| Deferred compensation holdings | Included as share equivalents in reported numbers where applicable | Deferred Compensation Plan allows investment in eligible Nuveen fund shares |
- Ownership guideline: Each Board Member is expected to invest, directly or on a deferred basis, at least the equivalent of one year of compensation in funds in the Fund Complex; exact compliance level for Nelson not determinable from disclosed dollar range .
Governance Assessment
- Strengths: Audit Committee Chair and SEC-designated financial expert; broad committee service spanning Executive, Dividend, Nominating & Governance, Investment, and Closed-End Funds; attendance ≥75% across Board and committees; robust audit oversight (14 audit meetings for NDMO last fiscal year) .
- Alignment: Holds “Over $100,000” aggregate in Nuveen registered investment companies and may utilize deferred compensation linked to fund shares; however, he holds 0 NDMO shares and individual fund ownership for each director is <1% of outstanding, limiting direct fund-level alignment .
- Compensation structure: Shift to higher fixed retainers in 2025 (committee membership and chair fees increased vs 2024), emphasizing cash/fixed pay rather than performance-based incentives; no equity/options grants for directors; optional deferral into fund-linked accounts .
- Conflicts/related-party exposure: No related-party holdings or transactions specifically disclosed for Nelson; auditor independence maintained with PwC appointed and engagements pre-approved under Audit Committee policy .