Albin Moschner
About Albin F. Moschner
Independent Board Member of Nuveen Municipal High Income Opportunity Fund (NMZ) since 2016; born 1952 (age ~73 in 2025). Founder/CEO of Northcroft Partners, with prior C‑suite roles across telecom and consumer electronics (Leap Wireless COO/CMO, Verizon Card Services President, One Point Services President, and Zenith Electronics CEO). Electrical engineering degrees: B.E. (City College of New York, 1974) and M.S. (Syracuse University, 1979). Oversees 217 portfolios across the Nuveen fund complex and is classified as an Independent Board Member (not an “interested person” and never an employee/director of TIAA/Nuveen or affiliates) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Northcroft Partners, LLC | Founder & CEO | 2012–present | Management consulting for operational, management, and governance solutions . |
| Leap Wireless International, Inc. | COO; CMO; Consultant | 2004–2012 | Senior operating and marketing leadership in consumer wireless services . |
| Verizon Communications, Inc. (Card Services) | President | 2000–2003 | Led card services within telecom ecosystem . |
| One Point Communications | President, One Point Services | 1999–2000 | Telecom services leadership . |
| Zenith Electronics Corporation | CEO; President & COO; Director | 1994–1996 | Executive leadership of consumer electronics company . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| USA Technologies, Inc. | Chairman (2019); Director | 2012–2019 | Electronic payments enablement; chaired board in 2019 . |
| Wintrust Financial Corporation | Director | 1996–2016 | Regional banking; governance experience in financial services . |
| Kellogg School of Management | Advisory Board (emeritus) | 1995–2018 | Academic advisory experience . |
| Archdiocese of Chicago Financial Council | Advisory Board (emeritus) | 2012–2018 | Financial oversight in nonprofit context . |
Board Governance
- Committee assignments and roles:
- Closed-End Fund Committee: Chair. Focus on discounts, leverage, distribution trends, and potential actions (e.g., repurchases), with regular workshops; meets quarterly .
- Compliance, Risk Management and Regulatory Oversight Committee: Member .
- Nominating & Governance Committee: Member .
- Investment Committee: Member (committee composed of Independent Board Members) .
- Independence: All NMZ Board Members (including Moschner) are “Independent Board Members” under the 1940 Act and exchange listing standards; never employed by TIAA/Nuveen or affiliates .
- Election and term:
- For funds with Preferred Shares (including NMZ), Moschner is elected by holders of Preferred Shares, with nominee status for a term expiring at the next annual meeting (2026 for the current cycle) .
- For funds without Preferred Shares, he serves as a Class II/III Board Member through the 2027 annual meeting .
- Attendance and engagement: Each Board Member attended ≥75% of Board and committee meetings during the last fiscal year; Board meets quarterly with frequent committee sessions (e.g., Audit 14 meetings; Compliance 6; Closed-End 4; Nominating 5) indicating high engagement cadence .
- Board structure: Unitary board across complex, independent Chair (Robert L. Young) .
Fixed Compensation
| Component | FY/Effective Date | Amount | Notes |
|---|---|---|---|
| Annual Retainer (Independent Board Members) | Effective Jan 1, 2025 | $350,000 | Cash retainer for Independent Board Members . |
| Committee Membership Retainer – Compliance | Effective Jan 1, 2025 | $35,000 | Annual member retainer ; Moschner is a member . |
| Committee Membership Retainer – Investment | Effective Jan 1, 2025 | $30,000 | Annual member retainer ; Moschner is a member . |
| Committee Membership Retainer – Nominating & Governance | Effective Jan 1, 2025 | $25,000 | Annual member retainer ; Moschner is a member . |
| Committee Chair Retainer – Closed-End Fund Committee | Effective Jan 1, 2025 | $25,000 | Annual chair retainer; Moschner is Chair . |
| NMZ Aggregate Compensation to Moschner | FY ended Oct 31, 2024 | $4,510 | NMZ-specific aggregate compensation . |
| Total Compensation from Nuveen Funds Paid to Moschner | Aggregated | $481,250 | Across the fund complex (includes retainers/fees) . |
| Deferred Compensation (elections) | FYs shown | $0 | Deferred amounts for Moschner reported as $0 across listed funds/periods . |
| Pension/Retirement Plans | N/A | None | Funds do not have retirement or pension plans . |
Meeting fees and ad hoc fees exist ($1,000–$2,500) and chair/membership retainers were stepped up in 2025 versus 2024, supporting cash-centric director pay structure .
Performance Compensation
| Metric Category | Plan Feature | Disclosure |
|---|---|---|
| Stock awards (RSUs/PSUs) | Equity grants | Not disclosed for Independent Board Members; compensation disclosures enumerate cash retainers/fees only . |
| Options | Strike/vesting | Not disclosed for directors . |
| Performance metrics | TSR, revenue, EBITDA, ESG | Not applicable for director pay; no performance-linked pay disclosed . |
| Clawbacks | Policy/triggers | Not disclosed for directors; CCO compensation paid by Adviser, not directors . |
Other Directorships & Interlocks
| Company | Role | Years | Potential Interlock/Conflict Analysis |
|---|---|---|---|
| USA Technologies, Inc. | Chairman (2019), Director | 2012–2019 | Payments/fintech; no disclosed related-party transactions with NMZ; prior role only . |
| Wintrust Financial Corporation | Director | 1996–2016 | Banking; tenure ended 2016; no current interlock with NMZ service providers disclosed . |
Expertise & Qualifications
- Deep telecom and operations background (Leap Wireless COO/CMO; Verizon Card Services President), plus consumer electronics CEO experience (Zenith), supporting oversight of leverage, distribution policies, and market dynamics in closed-end funds .
- Governance leadership: Former chairmanship, extensive board service across public companies and nonprofits; engineering education enhances technical rigor .
- Oversees 217 portfolios in the Nuveen complex, implying broad fund oversight exposure .
Equity Ownership
| Item | Value | Source |
|---|---|---|
| NMZ shares beneficially owned | 7,136 shares | |
| NMZ shares outstanding | 115,101,107 common shares | |
| Ownership as % of shares outstanding | ~0.0062% (7,136 ÷ 115,101,107) | |
| Dollar range of NMZ holdings | $50,000–$100,000 | |
| Aggregate range across fund complex | Over $100,000 | |
| Stock ownership guideline | Expected to invest ≥1 year of compensation in the fund complex | |
| Compliance status vs guideline | Not disclosed at individual director level |
As of the record date, each Board Member’s individual holdings in each fund were <1% of outstanding shares; group holdings also <1%, which is typical for mutual/CEF governance models .
Governance Assessment
- Positives:
- Independent director with no TIAA/Nuveen affiliation; strong operating pedigree and prior board leadership .
- High engagement cadence with ≥75% attendance and leadership as Chair of the Closed-End Fund Committee, a key body for discount and leverage oversight .
- Clear committee coverage across compliance, governance, investments, and closed-end issues; diversified oversight footprint .
- Potential watch items:
- Director compensation is primarily cash retainer/fees; while the Board expects ≥1x annual compensation invested across funds, individual compliance status is not disclosed; Moschner’s aggregate range is “Over $100,000” vs 2025 retainer of $350,000, making alignment depth opaque to investors .
- Preferred Share election dynamic (NMZ has AMTP series) means Moschner is elected by preferred holders, which can introduce different stakeholder priorities vs common shareholders; however, independence and unitary board mitigate this risk .
- Red flags: None disclosed regarding related-party transactions, pledging/hedging, tax gross-ups, option repricing, legal proceedings, or Section 16 deficiencies; proxies state Section 16(a) compliance .