Marc Cardella
About Marc Cardella
Marc Cardella (born 1984) serves as Vice President and Controller (Principal Financial Officer) of Nuveen Multi-Asset Income Fund (NMAI), with an indefinite term and service since 2024. He is Senior Managing Director and Head of Public Investment Finance at Nuveen, and holds senior roles across affiliates (Nuveen Fund Advisors, Nuveen Asset Management, Teachers Advisors, and TIAA‑CREF Investment Management), as well as Principal Financial Officer, Principal Accounting Officer, and Treasurer of TIAA Separate Account VA‑1 and the College Retirement Equities Fund (CREF) . Officers of the Funds receive no compensation from the Funds and are elected annually by the Board to serve until successors are elected and qualified .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Senior Managing Director; Head of Public Investment Finance | Not disclosed (current as of Mar 1, 2025) | Finance leadership across Nuveen public investment funds |
| Nuveen Fund Advisors; Nuveen Asset Management; Teachers Advisors; TIAA‑CREF Investment Management | Senior Managing Director (affiliates) | Not disclosed (current as of Mar 1, 2025) | Senior finance roles across adviser and affiliates |
| TIAA Separate Account VA‑1; College Retirement Equities Fund (CREF) | Principal Financial Officer, Principal Accounting Officer, Treasurer | Not disclosed (current as of Mar 1, 2025) | Principal financial and accounting roles for major TIAA vehicles |
External Roles
No external directorships or committee roles were disclosed in NMAI filings for Marc Cardella. Officers receive no compensation from the Funds and serve in management capacities across Nuveen/TIAA affiliates rather than on NMAI’s Board .
Fixed Compensation
- Officers receive no compensation from the Funds; the Chief Compliance Officer’s compensation is paid by the Adviser (with a partial reimbursement by the Funds for incentive compensation), and the officer table states officers serve without any compensation from the Funds .
Performance Compensation
- No fund-level incentive metrics, targets, or payouts for Fund officers are disclosed. Officers do not receive compensation from the Funds, and filings provide no RSU/PSU/option grants or vesting schedules at the Fund level .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (group) in NMAI | Board Members/Nominees and Officers as a group held 199 NMAI shares as of December 31, 2024 . |
| Ownership % | For each Fund, Board Members and executive officers as a group beneficially owned less than 1% of outstanding shares as of Feb 18, 2025 . |
| Individual officer breakdown | Fund filings provide group-level ownership; individual officer holdings (including Marc Cardella) are not broken out in NMAI’s proxy . |
| Pledging/Hedging | No pledging or hedging by officers is disclosed in NMAI filings . |
Employment Terms
| Term | Disclosure |
|---|---|
| Position | Vice President and Controller (Principal Financial Officer) |
| Term and service | Term: Indefinite; Length of Service: Since 2024 |
| Election | Officers are elected annually by the Board to serve until successors are elected and qualified |
| Compensation from Fund | Officers receive no compensation from the Funds |
| Contracts, severance, change-of-control | Not disclosed in Fund filings |
| Section 16 compliance | Board Members and officers complied with applicable Section 16(a) filing requirements during the last fiscal year |
Investment Implications
- Pay-for-performance visibility is limited at the Fund level: officers are not paid by the Fund, and NMAI filings do not disclose salary/bonus/equity awards or performance metrics for Fund officers—reducing transparency into compensation alignment with Fund performance .
- Insider selling pressure appears low: disclosed holdings for the Board Members and officers group are small (199 NMAI shares, <1% across funds), and filings do not show pledging/hedging by officers .
- Retention and incentives likely reside at the Nuveen/TIAA parent level: Cardella’s senior roles across the Nuveen/TIAA complex (including PFO/PAO/Treasurer positions for VA‑1 and CREF) suggest compensation and employment terms are governed by the Adviser and affiliates rather than NMAI; monitor Item 5.02 8‑Ks and future proxies for any changes in officer appointments or compensatory arrangements .
- Governance signal: Section 16(a) compliance for Board Members and officers is a modest positive; given sparse officer-specific economics disclosed at the Fund, investors should rely on Adviser-level disclosures and remain attentive to future NMAI proxies/8‑Ks for any updates .