Kevin J. McCarthy
About Kevin J. McCarthy
Kevin J. McCarthy (born 1966) serves as Vice President and Assistant Secretary of Nuveen Dynamic Municipal Opportunities Fund (NDMO) and has been an officer in the Nuveen fund complex since 2007, indicating long tenure and continuity in fund governance and legal administration . He concurrently holds senior legal and secretary roles across Nuveen/TIAA affiliated entities, including Executive Vice President, Secretary and General Counsel of Nuveen Investments, Inc., and executive/secretary roles at Nuveen Securities, Nuveen Fund Advisors, Nuveen Asset Management, Teachers Advisors, and TIAA-CREF Investment Management, among others . The Funds disclose that officers serve without compensation from the Funds (paid by the Adviser), so pay-for-performance linkages at the fund level are not available; Section 16(a) compliance was reported as timely for officers and affiliates during the last fiscal year . NDMO board members and officers as a group held 0 NDMO shares as of May 31, 2025, and individual board member holdings were each less than 1% of shares outstanding, limiting visible insider alignment via fund ownership .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Investments, Inc. | Executive Vice President, Secretary and General Counsel | Not disclosed | Senior legal and governance leadership across fund complex |
| Nuveen Securities, LLC | Executive Vice President and Assistant Secretary | Not disclosed | Legal/secretary functions supporting distribution and governance |
| Nuveen Fund Advisors, LLC | Executive Vice President and Assistant Secretary | Not disclosed | Legal/secretary oversight for adviser to funds |
| Nuveen Asset Management, LLC | Executive Vice President and Secretary | Not disclosed | Legal and governance for asset management operations |
| Teachers Advisors, LLC | Executive Vice President and Secretary | Not disclosed | Legal/secretary roles across TIAA-affiliated funds |
| TIAA-CREF Investment Management, LLC | Executive Vice President and Secretary | Not disclosed | Legal/secretary roles across TIAA-affiliated funds |
| NWQ Investment Management Company, LLC | Vice President (formerly), Secretary (formerly) | 2007–2021 (VP); 2016–2021 (Secretary) | Legal/secretary roles at Nuveen affiliate |
| Santa Barbara Asset Management, LLC | Vice President (formerly), Secretary (formerly) | 2007–2021 (VP); 2016–2021 (Secretary) | Legal/secretary roles at Nuveen affiliate |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Winslow Capital Management, LLC | Vice President and Secretary | Not disclosed | Legal/secretary role at investment adviser |
Fixed Compensation
| Component | NDMO Disclosure | Notes |
|---|---|---|
| Base salary | Not disclosed | Officers serve without any compensation from the Funds; compensation is paid by the Adviser |
| Target/Actual bonus | Not disclosed | Not disclosed at fund level |
| Perquisites | Not disclosed | Not disclosed at fund level |
| Pension/SERP | Not disclosed | Funds have no retirement or pension plans; officers receive no compensation from the Funds |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — |
The Funds do not disclose officer incentive metrics, vesting schedules, or award designs; officers are compensated by the Adviser and not by the Funds .
Equity Ownership & Alignment
| Item | Amount/Status | Date |
|---|---|---|
| NDMO shares owned by Kevin J. McCarthy | Not disclosed | As of May 31, 2025 |
| NDMO shares owned by Board Members and Officers as a group | 0 shares | As of May 31, 2025 |
| Individual Board Member ownership % in Funds | Each <1% of shares outstanding | As of June 20, 2025 |
| Pledging/Hedging of NDMO shares | Not disclosed | Not disclosed in proxy |
| Stock ownership guidelines | Applies to Board Members (one year of compensation invested); not specified for officers | As of May 31, 2025 |
Employment Terms
| Term | NDMO Disclosure | Notes |
|---|---|---|
| Position | Vice President and Assistant Secretary | Officer of the Funds; elected by the Board annually |
| Length of service | Since 2007 | Indicates long tenure in Nuveen fund complex |
| Contract term/expiration | Not disclosed | No employment contract terms disclosed at fund level |
| Severance/Change-of-control | Not disclosed | Not disclosed for officers at fund level |
| Non-compete/Non-solicit | Not disclosed | Not disclosed |
| Clawbacks/Tax gross-ups | Not disclosed | Not disclosed |
Investment Implications
- Pay-for-performance assessment at fund level is not possible: officers receive no compensation from NDMO and compensation details are not disclosed in the proxy, limiting visibility into incentive structures, vesting, and severance economics .
- Insider alignment and selling pressure appear limited for NDMO: group holdings by board members and officers were 0 shares and individual board member holdings were each <1% of outstanding; officer-level ownership (including Kevin McCarthy) is not individually disclosed, constraining insider signal analysis .
- Retention analysis is constrained by lack of contract/severance disclosures; however, McCarthy’s tenure since 2007 suggests continuity in legal/governance leadership within the Nuveen/TIAA complex, which may reduce operational transition risk at the fund level .
- Compliance discipline appears robust: the Funds report timely Section 16(a) filings for board members, officers, the Adviser, and affiliates in the last fiscal year, mitigating regulatory red-flag risk in reporting obligations .
Note: NDMO is a closed-end fund and “The Funds have no employees. The officers of the Funds serve without any compensation from the Funds,” so many executive compensation-related disclosures typical for operating companies (RSUs/PSUs, option grants, performance metrics, severance) are not provided at the fund level and cannot be inferred .