Deborah McLean
About Deborah C. McLean
Independent director of Neuberger Berman High Yield Strategies Fund Inc. (NHS) since 2015; born 1954. Background includes Managing Director at Golden Seeds LLC (angel investing), member of Circle Financial Group (private wealth membership practice), and Adjunct Professor of Corporate Finance at Columbia University SIPA; oversees 50 funds within the Neuberger Berman fund complex. Determined by the Boards to be an Audit Committee “financial expert.”
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Golden Seeds LLC | Managing Director | Since 2009 | Active in investment screening and deal leadership/execution |
| Circle Financial Group | Member | Since 2011 | Private wealth management membership practice |
| Columbia University SIPA | Adjunct Professor (Corporate Finance) | Since 2008 | Graduate-level teaching in corporate finance |
| Fairfield University, Dolan School of Business | Visiting Assistant Professor | Fall 2007 | Undergraduate/graduate teaching |
| Richmond, The American International University in London | Adjunct Associate Professor of Finance | 1999–2007 | Undergraduate/graduate teaching |
| Major financial services corporation (unnamed) | Early career professional training | Multiple years | Financial services training and experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| The Maritime Aquarium at Norwalk | Board Member | Since 2020 | Non-profit board service |
| Norwalk Community College Foundation | Board Member | Since 2014 | Non-profit board service |
| Radcliffe Institute for Advanced Study (Dean’s Advisory Council) | Advisory Council Member | 2014–2023 | Advisory role |
| At Home in Darien | Director and Treasurer | 2012–2014 | Non-profit governance and treasury |
| National Executive Service Corps | Director | 2012–2013 | Non-profit governance |
| Richmond, The American International University in London | Trustee | 1999–2013 | Academic governance |
Board Governance
| Committee | Role | 2024 Meetings | Notes |
|---|---|---|---|
| Audit Committee | Member; determined “financial expert” | 7 | Independent-only committee; oversees financial reporting, audit firm; members: Cosgrove (Chair), Goss (Vice Chair), McLean, Nakasone |
| Contract Review Committee | Chair | 7 | Reviews approval/renewal of principal contracts; members: McLean (Chair), Smith (Vice Chair), Cosgrove, Gary |
| Investment Performance Committee | Vice Chair | 4 | All directors are members; Knetter (Chair), McLean (Vice Chair) |
| Executive Committee | Member | 0 (did not meet) | Acts in emergencies when Board not available |
| Governance & Nominating | Not a member | 5 (NHS) | Members: Goss (Chair), Nakasone (Vice Chair), Knetter, Seip |
| Closed-End Funds Committee (NHS) | Not a member | 8 (NHS) | Members: Gary (Chair), Smith (Vice Chair), Kaplan |
- Independence: Identified and standing as an Independent Director on NHS .
- Attendance: Boards met four times in FY ended Oct 31, 2024; each Director (including McLean) attended at least 75% of Board and relevant committee meetings .
- Audit oversight: Audit Committees met Dec 11, 2024 to review FY 2024 audits and affirmed auditor independence; membership includes McLean .
Fixed Compensation
| Component | Amount | Period | Notes |
|---|---|---|---|
| Aggregate compensation from each Fund other than Energy Infrastructure Fund | $12,107 | FY ended Oct 31, 2024 | Deborah C. McLean |
| Aggregate compensation from Energy Infrastructure Fund | $6,053 | FY ended Nov 30, 2024 | Deborah C. McLean |
| Total compensation from registered investment companies in NB fund complex | $295,000 | Calendar year ended Dec 31, 2024 | Deborah C. McLean |
- Standard director pay: Effective Jan 1, 2024, annual retainer $200,000 paid quarterly plus $17,500 per regularly scheduled meeting attended (in-person or by telephone) .
- Committee chair stipends: Effective Jan 1, 2025, Contract Review Committee Chair receives $35,000 per year; other committee chairs receive $25,000 per year; no extra for Executive Committee Chair .
- Board Chair premium: Independent Board Chair receives an additional $90,000 per year .
- No pension/retirement plan for Directors; out-of-pocket expenses reimbursed; committee service otherwise not compensated beyond chair stipends .
Other Directorships & Interlocks
| Category | Status | Notes |
|---|---|---|
| Public company boards | None disclosed | External roles listed are primarily non-profit/academic; no public company directorships identified in proxy |
| Fund complex oversight | 50 funds | Number of funds in Neuberger Berman complex overseen by McLean |
Expertise & Qualifications
- Financial services background with engagement in investment screening, deal leadership, and execution through Golden Seeds; private wealth practice membership via Circle Financial Group .
- Academic credentials in corporate finance through long-term adjunct roles at Columbia SIPA and prior teaching positions (Fairfield University; Richmond University) .
- Designated Audit Committee “financial expert,” aligning skills with audit oversight responsibilities .
Equity Ownership
| Fund | Dollar Range Owned | Valuation Date |
|---|---|---|
| NRO | None | July 31, 2025 |
| NHS | None | July 31, 2025 |
| NML | None | July 31, 2025 |
| Aggregate across all NB registered investment companies overseen | Over $100,000 | July 31, 2025 |
- Independence from manager/underwriter: As of July 31, 2025, no Independent Director (including immediate family) owned securities of NBIA, any principal underwriter, or persons/entities controlling/controlled by NBIA or underwriter .
Governance Assessment
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Strengths:
- Committee leadership—Chair of Contract Review (contract approvals/renewals) and Vice Chair of Investment Performance (performance oversight), indicating strong engagement and governance influence .
- Audit oversight—member and “financial expert” on Audit Committee; committee met seven times in FY 2024 and reviewed auditor independence, demonstrating robust financial reporting oversight .
- Attendance—met at least the 75% threshold across Board and committee meetings; Board met four times in FY 2024, supporting baseline engagement .
-
Potential investor alignment considerations and signals:
- No direct NHS share ownership (dollar range “None”); aggregate mutual fund/fund complex holdings “Over $100,000” suggest broader fund-complex exposure but limited fund-specific skin-in-the-game .
- Director compensation is largely fixed cash (retainer + per-meeting) with chair stipends; proxy does not disclose any equity-based or performance-linked director compensation, which limits pay-for-performance alignment (typical for closed-end fund boards) .
- Annual meeting presence—Funds report no policy for attendance and note none of the Board members attended the 2024 Annual Meeting, which some investors view as a mild engagement gap .
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2025 election signal: Listed as a Class II nominee on the 2025 proxy card for NHS; Board recommends voting “FOR” McLean, indicating Board confidence .