Margaret Wolff
About Margaret L. Wolff
Margaret L. Wolff is an Independent Board Member of Nuveen Select Maturities Municipal Fund (NIM) within Nuveen’s unitary closed-end fund board, serving since 2016. Born in 1955, she is a retired M&A attorney (Skadden, Arps) with extensive board advisory experience; she currently chairs the Compliance, Risk Management & Regulatory Oversight Committee and serves on Audit, Nominating & Governance, Investment, and Closed-End Fund Committees . She is designated Independent under the 1940 Act and has no affiliations with TIAA/Nuveen or their parent companies .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Skadden, Arps, Slate, Meagher & Flom LLP | Of Counsel, M&A Group | 2005–2014 | Advised boards and senior management on governance, fiduciary, regulatory and strategic matters |
| Case Western Reserve University (education) | J.D. | — | Legal training supporting governance and fiduciary oversight |
| Mount Holyoke College (education) | B.A. | — | Foundational background relevant to leadership roles |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| New York-Presbyterian Hospital | Trustee | Since 2005 | Current board service |
| The John A. Hartford Foundation | Trustee; former Chair | Trustee since 2004; Chair 2015–2022 | Aging-care philanthropy leadership |
| Mount Holyoke College | Trustee; Vice Chair | Trustee 2005–2015; Vice Chair 2011–2015 | Higher education governance |
| Travelers Insurance Co. of Canada; The Dominion of Canada General Insurance Co. | Director | 2013–2017 | Canadian subsidiaries of The Travelers Companies, Inc. |
Board Governance
- Independence: All nominees and continuing Board Members, including Ms. Wolff, are not “interested persons” and are deemed Independent Board Members .
- Committee leadership: Chair, Compliance, Risk Management & Regulatory Oversight Committee .
- Committee memberships: Audit; Nominating & Governance; Investment; Closed-End Fund; Dividend (board authorizes) .
- Attendance: Each Board Member attended at least 75% of Board and relevant committee meetings in the last fiscal year .
| NIM (Select Maturities) Committee/Board Meetings – Last FY | Count |
|---|---|
| Regular Board Meetings | 4 |
| Special Board Meetings | 7 |
| Executive Committee Meetings | 3 |
| Dividend Committee Meetings | 8 |
| Compliance, Risk Mgmt & Regulatory Oversight Committee Meetings | 4 |
| Audit Committee Meetings | 14 |
| Nominating & Governance Committee Meetings | 6 |
| Investment Committee Meetings | 4 |
| Closed-End Fund Committee Meetings | 4 |
Fixed Compensation
- Structure (effective Jan 1, 2025): Annual retainer $350,000; annual committee membership retainers—Audit and Compliance $35,000; Investment $30,000; Dividend, Nominating & Governance, Closed-End $25,000; chair retainers—Board Chair $150,000; Audit/Compliance $35,000; Investment $30,000; Dividend/Nominating/Closed-End $25,000 .
- NIM-allocated compensation: $375 paid by Select Maturities (FY ended Mar 31, 2025) to Ms. Wolff .
- Total compensation across Nuveen Funds: $535,644 (aggregate compensation from the Funds paid to Ms. Wolff) .
- Deferred compensation participation: Deferred amount credited for NIM of $112 (FY ended Mar 31, 2025) .
- Retirement plans: The Funds do not have retirement or pension plans .
| Component | Amount |
|---|---|
| Annual Board retainer (complex-wide) | $350,000 |
| Committee membership retainer – Audit | $35,000 |
| Committee membership retainer – Compliance | $35,000 |
| Committee membership retainer – Investment | $30,000 |
| Committee membership retainer – Dividend | $25,000 |
| Committee membership retainer – Nominating & Governance | $25,000 |
| Committee membership retainer – Closed-End | $25,000 |
| Chair retainer – Audit or Compliance (if applicable) | $35,000 |
| NIM (Select Maturities) aggregate paid to Ms. Wolff (FY) | $375 |
| Deferred comp credited (NIM, FY) | $112 |
| Pension/retirement plan | None |
Performance Compensation
- No performance-based equity awards or options are disclosed for Independent Board Members; compensation is via retainers, committee fees, and meeting/ad hoc fees; a deferred compensation plan is available (elective, book-reserve linked to eligible fund shares) .
- No performance metrics (TSR, EBITDA, ESG) tied to director compensation are disclosed .
| Performance-Linked Element | Status |
|---|---|
| Stock awards (RSUs/PSUs) | Not disclosed |
| Option awards | Not disclosed |
| Performance metrics tied to pay | None disclosed |
| Clawback provisions | Not disclosed in proxy |
| Change-of-control or severance | Not disclosed in proxy |
Other Directorships & Interlocks
| Company/Institution | Role | Overlap/Interlock Risk Considerations |
|---|---|---|
| New York-Presbyterian Hospital | Trustee | Healthcare non-profit; no apparent conflict with municipal bond fund mandate |
| The John A. Hartford Foundation | Trustee; former Chair | Philanthropy; governance experience; low conflict potential |
| Travelers Canada subsidiaries | Director (2013–2017) | Historic role at insurance subsidiaries; no current overlap disclosed with Fund service providers |
| Mount Holyoke College | Trustee; Vice Chair | Higher education non-profit; low conflict potential |
Expertise & Qualifications
- Governance, fiduciary and strategic advisory depth from 30+ years in M&A legal practice, advising boards on corporate, securities, and regulatory matters .
- Education: B.A. (Mount Holyoke College); J.D. (Case Western Reserve University School of Law) .
- Audit Committee financial expert designation: Not among members designated as “audit committee financial expert” (Boateng, Nelson, Starr, Young are designated) .
Equity Ownership
- Board policy: Each Board Member is expected to invest, directly or on a deferred basis, at least the equivalent of one year of compensation in funds within the Fund Complex .
- NIM holdings: Dollar range $0 and 0 shares owned by Ms. Wolff .
- Aggregate across Fund Complex: “Over $100,000” dollar range in all registered investment companies overseen (not fund-specific) .
- Individual ownership as % of outstanding: Each Board Member’s individual holdings constituted less than 1% of outstanding shares of each Fund as of June 20, 2025 .
| Metric | NIM (Select Maturities) | Fund Complex Aggregate |
|---|---|---|
| Dollar range of equity securities | $0 | Over $100,000 |
| Shares owned | 0 | Not applicable (aggregate range only) |
| Ownership % of outstanding | <1% (individuals) | Not applicable |
| Ownership guideline | One year of compensation expected | Policy applies complex-wide |
Governance Assessment
- Strengths: Independent status; deep governance and fiduciary expertise from M&A practice; chairs Compliance Committee (central to risk/control oversight); broad committee participation; attendance at or above 75% threshold; robust, transparent board/committee charter frameworks .
- Alignment: Board policy encourages meaningful investment; Ms. Wolff’s aggregate complex holdings reported as “Over $100,000” with elective deferred comp usage at NIM, though NIM-specific holdings are zero .
- Watch items and potential red flags:
- Zero direct ownership in NIM may be viewed as weaker fund-specific alignment despite policy emphasis on complex-wide investment .
- Not designated an audit committee financial expert while serving on Audit Committee; mitigated by presence of multiple designated experts on the committee .
- No related-party transactions or pledging/hedging disclosed; ongoing monitoring recommended .
Section 16(a) compliance: Funds report full compliance with filing requirements; no delinquent filings noted .
Committee load signals: Compliance Chair role plus memberships on Audit, Nom/Gov, Investment, Closed-End indicate high engagement in risk, oversight, governance, and performance review .