Nathaniel Jones
About Nathaniel Jones
Nathaniel T. Jones (born 1979) serves as Vice President and Treasurer of Nuveen Municipal Credit Opportunities Fund (NMCO), with service in this officer role since 2016; he is a Senior Managing Director at Nuveen and at Nuveen Fund Advisors, LLC, and holds the Chartered Financial Analyst (CFA) designation . 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 . The Fund’s proxy does not disclose any officer-specific performance metrics or pay-for-performance constructs (e.g., TSR, revenue/EBITDA-linked awards) at the fund level .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Municipal Credit Opportunities Fund (NMCO) | Vice President and Treasurer | Since 2016 | Not disclosed |
| Nuveen | Senior Managing Director | Past 5 years (as disclosed) | Not disclosed |
| Nuveen Fund Advisors, LLC | Senior Managing Director | Past 5 years (as disclosed) | Not disclosed |
External Roles
- Not disclosed in NMCO’s proxy or related filings reviewed .
Fixed Compensation
| Component | Fund-Level Disclosure |
|---|---|
| Officer compensation paid by NMCO | None – “The Funds have no employees. The officers of the Funds serve without any compensation from the Funds.” |
Note: Any compensation for Mr. Jones would be paid by Nuveen/TIAA affiliates (the adviser) and is not disclosed in NMCO’s proxy .
Performance Compensation
- No fund-level disclosure of officer incentive structures (e.g., target bonus, RSUs/PSUs, options, performance metrics, vesting) for Mr. Jones. Officers receive no compensation from the Funds .
- No clawback, tax gross-up, deferred comp, or pension/SERP details disclosed for officers at the fund level .
Equity Ownership & Alignment
| Metric | As of Date | Value |
|---|---|---|
| NMCO common shares outstanding | Feb 18, 2025 | 54,801,890 |
| Board Members and officers as a group – beneficial ownership in NMCO (shares) | Dec 31, 2024 | 0 |
| Ownership concentration (Board Members and officers as a group) | Feb 18, 2025 | Less than 1% of outstanding shares for each Fund |
| Individual officer (Mr. Jones) holdings | Dec 31, 2024 | Not disclosed; officer-level holdings not itemized in proxy |
| Shares pledged/hedged by officers | – | Not disclosed in proxy |
Additional alignment context:
- Governance principle for Board Members (not officers): expected to invest at least one year of compensation in funds within the complex .
- Section 16(a) compliance: the Funds believe Board Members and officers complied with all applicable filing requirements in the last fiscal year .
Employment Terms
| Term | Provision |
|---|---|
| Officer election and term | Officers are elected annually by the Board and serve until successors are elected and qualified |
| Compensation source | Officers receive no compensation from the Funds (paid by the Adviser) |
| Role tenure at NMCO | Vice President and Treasurer since 2016 |
| Contracts (non-compete, severance, CoC) | Not disclosed at fund level |
Investment Implications
- Minimal direct fund-level pay-for-performance linkage: NMCO pays no officer compensation; incentive alignment for Mr. Jones operates through Nuveen/TIAA’s corporate programs, which are not disclosed in this proxy .
- Low direct ownership signal at the fund: Board Members and officers as a group reported zero NMCO shares at 12/31/24 and, across funds, less than 1% ownership—a weak “skin-in-the-game” indicator at the fund level (no pledging disclosures) .
- Governance/operational continuity: Mr. Jones’ long tenure as Treasurer (since 2016) and annual officer election protocol support continuity; Section 16(a) compliance underscores basic governance hygiene .
Overall, without fund-level compensation or ownership for officers, trading/vesting pressure signals are limited at NMCO itself; evaluation of retention risk and incentive alignment for Mr. Jones should consider Nuveen/TIAA compensation disclosures (not included in NMCO’s proxy) and any Section 16 filings, which were compliant but not detailed in the proxy .