Marc Cardella
About Marc Cardella
Marc Cardella is Vice President and Controller (Principal Financial Officer) of Nuveen California AMT-Free Quality Municipal Income Fund (NKX), serving since 2024; Year of birth: 1984; Office address: 8500 Andrew Carnegie Blvd, Charlotte, NC 28262 . He is Senior Managing Director and Head of Public Investment Finance at Nuveen, and holds senior managing director roles at Nuveen Fund Advisors, Nuveen Asset Management, Teachers Advisors, and TIAA-CREF Investment Management; he is also Managing Director at Teachers Insurance and Annuity Association of America and TIAA SMA Strategies LLC, and serves as Principal Financial Officer, Principal Accounting Officer, and Treasurer of TIAA Separate Account VA-1 and the College Retirement Equities Fund . Officers of the Funds serve without compensation from the Funds; compensation specifics for officers (including base salary/bonus) are not reported in Fund documents .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen California AMT-Free Quality Municipal Income Fund (NKX) | Vice President and Controller (Principal Financial Officer) | Since 2024 | Principal Financial Officer oversight for fund financial reporting |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Senior Managing Director; Head of Public Investment Finance | Current as of Oct 22, 2025 | Leads public investment finance activities at Nuveen |
| Nuveen Fund Advisors, LLC | Senior Managing Director | Current as of Oct 22, 2025 | Senior leadership across fund advisory operations |
| Nuveen Asset Management, LLC | Senior Managing Director | Current as of Oct 22, 2025 | Senior leadership across asset management operations |
| Teachers Advisors, LLC | Senior Managing Director | Current as of Oct 22, 2025 | Senior leadership in advisory functions |
| TIAA-CREF Investment Management, LLC | Senior Managing Director | Current as of Oct 22, 2025 | Senior leadership in investment management |
| Teachers Insurance and Annuity Association of America | Managing Director | Current as of Oct 22, 2025 | Executive role at TIAA |
| TIAA SMA Strategies LLC | Managing Director | Current as of Oct 22, 2025 | Executive role at TIAA affiliate |
| TIAA Separate Account VA-1 | Principal Financial Officer, Principal Accounting Officer, Treasurer | Current as of Oct 22, 2025 | Financial reporting and treasury responsibilities |
| College Retirement Equities Fund | Principal Financial Officer, Principal Accounting Officer, Treasurer | Current as of Oct 22, 2025 | Financial reporting and treasury responsibilities |
Fixed Compensation
| Component | Disclosure | Notes |
|---|---|---|
| Fund-paid compensation | None | Officers serve without any compensation from the Funds |
| CCO compensation example | Paid by Adviser | The Funds reimburse Adviser for allocable portion of CCO incentive compensation; officer pay details otherwise not disclosed |
Equity Ownership & Alignment
| Metric | Disclosure |
|---|---|
| Individual beneficial ownership (Marc Cardella) | Not individually disclosed in Fund documents |
| Officers and Board as a group | Less than 1% of outstanding shares as of Oct 22, 2025 |
| Pledging/Hedging | Not disclosed in Fund documents |
| Section 16(a) compliance | No delinquencies reported; Funds believe officers complied with all filing requirements in last fiscal year |
Employment Terms
| Term Element | Disclosure |
|---|---|
| Position | Vice President and Controller (Principal Financial Officer) |
| Term length | Indefinite |
| Length of service | Since 2024 |
| Non-compete / non-solicit / garden leave | Not disclosed in Fund documents |
| Severance / change-of-control | Not disclosed in Fund documents |
Investment Implications
- Alignment: As PFO of a Nuveen-managed closed-end fund, Cardella’s compensation is not paid by the Fund and is not disclosed in Fund documents, limiting pay-for-performance transparency at the Fund level; officers and Board as a group hold less than 1% of shares, offering limited direct equity alignment .
- Retention and influence: Multiple concurrent senior roles across Nuveen/TIAA indicate centrality in public investment finance operations; term is indefinite with service since 2024, but no employment contract economics (severance/CoC) are disclosed for retention analysis .
- Trading signals: No reported Section 16(a) delinquencies and no disclosed pledging/hedging; absence of individual ownership disclosures reduces ability to assess insider selling pressure or vesting-related supply risk .