Joseph Castro
About Joseph Castro
Joseph T. Castro is Vice President of Nuveen Select Maturities Municipal Fund (NIM), born 1964, with an indefinite term and service since 2025. He serves as Executive Vice President and Chief Risk and Compliance Officer at Nuveen; previously Senior Managing Director and Head of Compliance, and Senior Managing Director across Nuveen Fund Advisors, LLC, Nuveen Securities, LLC, and Nuveen, LLC . Officers receive no compensation from the Fund; compensation for the Funds’ Chief Compliance Officer is paid by the Adviser with an allocable portion of incentive compensation reimbursed by the Funds, indicating adviser-level pay structures rather than fund-level pay-for-performance . Fund-level performance metrics (TSR, revenue/EBITDA growth) tied to Castro are not disclosed in the proxy.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Executive Vice President, Chief Risk and Compliance Officer | Past 5 years | Enterprise risk and compliance leadership at Nuveen |
| Nuveen | Senior Managing Director and Head of Compliance | Past 5 years | Oversight of compliance across Nuveen entities |
| Nuveen Fund Advisors, LLC; Nuveen Securities, LLC; Nuveen, LLC | Senior Managing Director | Past 5 years | Senior leadership across adviser and affiliates |
External Roles
No external public company directorships or outside board roles for Castro are disclosed in NIM’s proxy officer table .
Fixed Compensation
- Officers receive no compensation from the Funds; compensation is borne at the Adviser-level. The Funds reimburse the Adviser for an allocable portion of the CCO’s incentive compensation, but base salary/bonus amounts and Castro’s personal compensation are not itemized in the proxy .
- No disclosure of base salary, target bonus %, actual bonus paid, stock/option awards, retention or sign-on bonuses for Castro in the Fund’s proxy .
Performance Compensation
- No disclosed performance metrics (revenue growth, EBITDA, TSR percentile, ESG goals) or payout formulas tied to Castro’s compensation in NIM’s proxy .
Equity Ownership & Alignment
| Item | NIM (Select Maturities) | Fund Complex Context |
|---|---|---|
| Officer/Board group beneficial ownership (shares) | 0 shares for NIM held by Board Members and officers as a group as of May 31, 2025 | Group beneficial holdings in each Fund were less than 1% of outstanding shares as of June 20, 2025 |
| Individual officer ownership (Castro) | Not separately disclosed in proxy | — |
| Pledging/Hedging | Not disclosed in proxy | — |
| Ownership guidelines | Governance principle applies to Board Members (invest at least the equivalent of one year of compensation in Nuveen funds); no officer guideline disclosed | — |
Employment Terms
| Attribute | Detail |
|---|---|
| Position | Vice President (Officer of the Fund) |
| Term | Indefinite |
| Length of Service | Since 2025 |
| Primary Office Address | 333 West Wacker Drive, Chicago, IL 60606 |
| Reporting/Regulatory | Section 16(a) compliance noted; Funds believe Board Members and officers complied with applicable filing requirements in last fiscal year |
| Severance/Change-of-Control | Not disclosed for officers in proxy |
| Clawbacks/Non-compete | Not disclosed |
Investment Implications
- Pay-for-performance alignment at the Fund level appears limited for officers: the proxy states officers receive no compensation from the Funds, and CCO compensation is paid by the Adviser, suggesting Castro’s incentives are tied to enterprise compliance/risk outcomes rather than NIM share performance; this reduces direct fund-level alignment signals .
- Insider selling pressure and ownership alignment: group ownership in NIM is 0 shares and group holdings across funds are <1%, with no individual officer ownership disclosed for Castro; absence of pledging/hedging disclosures removes a potential red flag but also limits positive “skin-in-the-game” signals .
- Retention/contract risk: Castro’s term is indefinite and employment economics (severance, change-of-control, clawbacks, non-compete) are not disclosed at the Fund level, leaving limited visibility into retention risk or potential event-driven payouts .
- Trading signals: No Section 16 ownership or transaction detail for Castro is provided in the proxy; with group holdings de minimis for NIM, there are no observable insider accumulation/selling patterns to incorporate into timing models from this filing .