Brett E. Black
About Brett E. Black
Brett E. Black (born 1972) serves as Vice President and Chief Compliance Officer (CCO) of Nuveen Missouri Quality Municipal Income Fund (NOM) and is a Managing Director, Chief Compliance Officer of Nuveen; he has held the fund officer role since 2022 and is based at 333 West Wacker Drive, Chicago, IL . Officers receive no compensation from the Funds; the CCO’s compensation (base salary plus incentive compensation) is paid by the Adviser (Nuveen Fund Advisors), with Board review and input, and the Funds reimburse an allocable portion of the Adviser’s cost of the CCO’s incentive compensation . The proxy provides no individual pay amounts or fund performance-linked metrics (e.g., TSR) for the CCO; compliance oversight is delivered via the Board’s Compliance, Risk Management and Regulatory Oversight Committee, which receives written and oral reports from the CCO and meets privately with the CCO quarterly .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Managing Director; Chief Compliance Officer | Since 2022 | Provides CCO reports and private sessions to the Board’s Compliance Committee on compliance and risk; supports enterprise risk oversight |
| BMO Funds, Inc. | Vice President; Chief Compliance Officer and Anti-Money Laundering Compliance Officer; Deputy Chief Compliance Officer | Vice President 2014–2022; CCO/AML 2017–2022; Deputy CCO 2014–2017 | Led compliance and AML programs for fund complex prior to joining Nuveen |
External Roles
No external directorships or committee roles disclosed for Mr. Black in the NOM proxy .
Fixed Compensation
- Officers (including the CCO) receive no compensation from the Funds; the CCO’s compensation is composed of base salary and incentive compensation and is paid by the Adviser, with the Board reviewing and providing input. The Funds reimburse the Adviser for an allocable portion of the Adviser’s cost of the CCO’s incentive compensation .
- The Funds do not have retirement or pension plans for Board Members; officer retirement or pension details are not disclosed for the Fund (officers are Nuveen employees) .
Performance Compensation
- The CCO’s compensation includes incentive compensation; specific performance metrics, weightings, targets, or payout formulas for Mr. Black are not disclosed in the NOM proxy. Oversight of compliance and risk is handled by the Compliance Committee, which interacts directly with the CCO .
Equity Ownership & Alignment
- Beneficial ownership: As of February 18, 2025, each Board Member’s individual beneficial shareholdings constituted less than 1% of any Fund, and the Board Members and executive officers as a group beneficially owned less than 1% of the outstanding shares of each Fund .
- Section 16(a) compliance: The Fund reports that its Board Members and officers, the Adviser, and affiliated persons complied with all applicable Section 16(a) filing requirements during the last fiscal year .
- Officers receive no compensation from the Funds and there is no disclosure of fund-based RSU/PSU/option grants for officers; pledging or hedging by Mr. Black is not disclosed .
Employment Terms
| Term Element | Disclosure |
|---|---|
| Position | Vice President and Chief Compliance Officer of the Fund; Managing Director, Chief Compliance Officer of Nuveen |
| Start/Service | Length of service with Fund complex since 2022 |
| Election & Term | Officers are elected annually by the Board; term is indefinite and officers serve until successors are elected and qualified |
| Compensation Source | Paid by Adviser (Nuveen Fund Advisors); Funds reimburse portion of CCO incentive comp; Board provides review/input |
| Non-compete / Severance | Not disclosed at the Fund level (officers are employees of Nuveen) |
Investment Implications
- Pay-for-performance alignment is opaque at the Fund level for the CCO: compensation is paid by the Adviser with Board oversight but without disclosed metrics, and officers receive no compensation from the Funds; thus, there are no fund-granted equity awards or vesting schedules that would create near-term insider selling pressure .
- Skin-in-the-game appears limited: group beneficial ownership by Board Members and executive officers is less than 1% of outstanding shares across funds, suggesting minimal direct equity alignment for officers at the Fund level .
- Governance and compliance oversight are robust: the Compliance Committee meets quarterly, receives written/oral reports from the CCO, and holds private sessions with the CCO, which supports execution quality in compliance and risk management but does not translate into disclosed performance pay metrics for the CCO .
- Trading signals are limited: Section 16(a) compliance was achieved by officers and Board Members, and with no fund-based equity awards disclosed for officers, typical vesting-related selling catalysts do not apply to Mr. Black at the Fund level .