Brett Black
Vice President and Chief Compliance Officer at Nuveen Minnesota Quality Municipal Income Fund
Executive
About Brett Black
Brett E. Black (born 1972) serves as Vice President and Chief Compliance Officer of Nuveen Minnesota Quality Municipal Income Fund; he is a Managing Director and Chief Compliance Officer at Nuveen. He has served as an officer of the Fund complex since 2022; officers are elected annually and serve until successors are elected and qualified. The Fund’s proxy states that “Officers receive no compensation from the Funds,” and there are no pay-for-performance or TSR/EBITDA metrics disclosed for officers in the DEF 14A.
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Nuveen | Managing Director; Chief Compliance Officer | Present (disclosed as current occupation in past 5 years) | Not disclosed |
| BMO Funds, Inc. | Chief Compliance Officer and Anti-Money Laundering Compliance Officer | 2017–2022 | Not disclosed |
| BMO Funds, Inc. | Vice President; Deputy Chief Compliance Officer | 2014–2017 (Deputy CCO); 2014–2022 (VP) | Not disclosed |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| — | None disclosed in NMS proxy filings | — | — |
Fixed Compensation
- Officers receive no compensation from the Funds; therefore, base salary, bonus, retainers, and perquisites are not paid by the Fund to officers and are not disclosed in the Fund’s DEF 14A.
Performance Compensation
- No officer performance incentives (RSUs, PSUs, options), targets, weightings, or payouts are disclosed at the Fund level; the proxy does not present pay-versus-performance for officers.
Equity Ownership & Alignment
- Individual officer beneficial ownership for NMS (including Brett Black) is not presented; the proxy provides beneficial ownership by Board Members and officers as a group across funds and dollar ranges for Board Members, not officers.
- Officer share pledging/hedging policies or pledges are not disclosed for officers in the DEF 14A.
- Stock ownership guidelines and compliance status are not disclosed for officers.
Employment Terms
- Position and tenure: Vice President and Chief Compliance Officer; term of office is “Indefinite”; length of service as Fund officer “Since 2022.” Officers are elected annually to serve until successors are elected and qualified.
- Compensation and severance/change-in-control: No officer employment agreements, severance multiples, change-of-control triggers, accelerated vesting terms, or clawbacks are disclosed at the Fund level.
- Non-compete, non-solicit, garden leave, post-termination consulting: Not disclosed for officers in the DEF 14A.
Investment Implications
- Compensation alignment: With no Fund-level officer compensation or equity awards disclosed, traditional pay-for-performance, vesting schedules, and insider selling pressure analyses are not applicable for Brett Black at NMS; any compensation would be at the adviser (Nuveen) and is not presented in NMS filings.
- Ownership alignment: Absence of individual officer ownership disclosure limits “skin-in-the-game” assessment; no pledging disclosure for officers reduces immediate red-flag risk but remains an information gap.
- Retention and governance: Officer roles are indefinite with annual election by the Board; no employment contract terms (severance/change-in-control) are disclosed, leaving limited visibility into retention economics or potential transition incentives.
- Focus areas for investors: Monitor adviser-level disclosures (Nuveen/TIAA) for compensation, compliance leadership stability, and any Item 5.02 8‑Ks for officer changes; Fund-level proxies do not provide officer pay metrics or incentive structures.