Joseph Castro
About Joseph Castro
Joseph T. Castro (born 1964) is Vice President of NMCO with an indefinite term and service since 2025. His principal occupation over the past five years includes Executive Vice President, Chief Risk and Compliance Officer at Nuveen; previously Senior Managing Director and Head of Compliance at Nuveen, and Senior Managing Director at Nuveen Fund Advisors, LLC, Nuveen Securities, LLC, and Nuveen, LLC . Officers of the Funds receive no compensation from the Funds (compensation for certain roles is paid by the Adviser), which constrains available fund-level pay-for-performance analysis .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Senior Managing Director and Head of Compliance | Past 5 years (exact dates not disclosed) | Led risk and compliance across Nuveen’s fund complex |
| Nuveen Fund Advisors, LLC | Senior Managing Director | Past 5 years (exact dates not disclosed) | Senior leadership within the adviser to the Funds |
| Nuveen Securities, LLC | Senior Managing Director | Past 5 years (exact dates not disclosed) | Senior leadership and compliance oversight |
| Nuveen, LLC | Senior Managing Director | Past 5 years (exact dates not disclosed) | Senior leadership within Nuveen’s corporate entity |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed | — | — | — |
Fixed Compensation
| Component | FY | Amount/Terms |
|---|---|---|
| Fund-level officer compensation | Ongoing | Officers receive no compensation from the Funds; compensation for the Funds’ CCO is paid by the Adviser (with partial reimbursement), but officer compensation generally is not fund-disclosed |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed at fund level for officers | — | — | — | — | — |
Equity Ownership & Alignment
| Category | Detail |
|---|---|
| Individual officer beneficial ownership | Not disclosed for individual officers in NMCO proxy |
| Group ownership | As of January 19, 2024, Board Members and executive officers as a group beneficially owned less than 1% of the outstanding shares of each Fund |
| Stock ownership guidelines | Governance principle applies to Board Members (expected to invest at least one year of compensation), not officers |
| Pledging/hedging | Not disclosed in officer context |
Employment Terms
| Term Length | Start Date (Fund Officer) | Fund Role | Current Corporate Role | Auto-Renewal | Severance | Change-of-Control | Non-Compete | Notes |
|---|---|---|---|---|---|---|---|---|
| Indefinite | Since 2025 | Vice President (officer of the Fund) | Executive Vice President, Chief Risk and Compliance Officer, Nuveen | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Officers elected by the Board annually to serve until successors are elected and qualified; officers are not compensated by the Funds |
Investment Implications
- Limited pay-for-performance visibility: NMCO officers are not compensated by the Funds, and no fund-level base salary, bonus, or equity award disclosures exist for Castro, limiting direct alignment analysis to fund performance; compensation (if any) is at Nuveen corporate level and not disclosed in the proxy .
- Minimal insider selling pressure at fund level: Absence of fund-level equity grants or options to officers suggests no direct vesting-driven selling pressure tied to NMCO disclosures .
- Governance and retention: Castro’s term is indefinite with service since 2025, and officers are elected annually by the Board until successors are qualified; no severance or change-of-control terms are disclosed for officers at fund level, keeping retention and transition economics opaque .
- Ownership alignment: Individual officer holdings are not disclosed, and Board Members and executive officers as a group own less than 1% of each Fund’s outstanding shares, limiting “skin-in-the-game” signals from fund filings .