John K. Nelson
About John K. Nelson
Independent Board Member across the Nuveen closed-end fund complex since 2013; Class II trustee with current term expiring at the 2026 annual meeting for Nuveen Missouri Quality Municipal Income Fund (NOM) . Year of birth: 1962. Education: BA in Economics and MBA in Finance from Fordham University . Former CEO of ABN AMRO Bank N.V., North America, and Global Head of the Financial Markets Division; prior senior advisory role at Deloitte Consulting LLP’s Financial Services practice .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ABN AMRO Bank N.V. (incl. LaSalle Bank Corp.) | CEO, North America; Global Head, Financial Markets Division | 1996–2008 | Led Currency, Commodity, Fixed Income, Emerging Markets, and Derivatives businesses; represented bank on committees at Bank of Canada, ECB, Bank of England . |
| Deloitte Consulting LLP | Senior External Advisor, Financial Services practice | 2012–2014 | Advisory to financial services clients . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Core12 LLC (private firm) | Director | 2008–2023 | Branding/marketing advisory; board service concluded in 2023 . |
| Fordham University | President’s Council (Director) | 2010–2019 | University advisory role . |
| Curran Center for Catholic American Studies | Director | 2009–2018 | Academic advisory role . |
| Marian University | Trustee; Chairman, Board of Trustees | 2011–2013 | Board leadership . |
Board Governance
- Independence: All nominees and continuing trustees (including Nelson) are “Independent Board Members” under the 1940 Act; never employed by TIAA or Nuveen or affiliates .
- Class/Term: Class II Board Member; term to 2026 annual meeting (NOM) .
- Attendance: Each Board Member attended at least 75% of Board and committee meetings in the last fiscal year .
- Financial expert: Designated “audit committee financial expert” .
- Committee assignments (NOM and fund complex):
- Audit Committee: Chair; member; designated financial expert .
- Executive Committee: Member .
- Dividend Committee: Member .
- Nominating & Governance Committee: Member .
- Investment Committee: Member .
- Closed-End Fund Committee: Member .
| NOM Board/Committee Meetings (Last Fiscal Year) | Count |
|---|---|
| Regular Board | 5 |
| Special Board | 8 |
| Executive Committee | 8 |
| Dividend Committee | 10 |
| Compliance, Risk Mgmt & Regulatory Oversight | 6 |
| Audit Committee | 15 |
| Nominating & Governance Committee | 5 |
| Investment Committee | 4 |
| Closed-End Fund Committee | 4 |
Fixed Compensation
- Structure change: Annual retainer increased from $210,000 (2023) to $350,000 (effective Jan 1, 2024) .
- Committee retainers (effective Jan 1, 2024; increases noted effective Jan 1, 2025):
- Audit; Compliance, Risk Mgmt & Regulatory Oversight: $30,000 → $35,000 (2025) .
- Investment Committee: $20,000 → $30,000 (2025) .
- Dividend; Nominating & Governance; Closed-End Funds: $20,000 → $25,000 (2025) .
- Chair fees:
- Board Chair/Co-Chair: $140,000 → $150,000 (2025) .
- Audit and Compliance Chairs: $30,000 → $35,000 (2025) .
- Investment Chair: $20,000 → $30,000 (2025) .
- Dividend, Nominating & Governance, Closed-End Chairs: $20,000 → $25,000 (2025) .
- Meeting/ad hoc fees: $1,000 or $2,500 per ad hoc meeting; special assignment committee quarterly fees (chair/co-chair starting at $1,250; members starting at $5,000) .
- Pension/retirement: None; Funds do not have retirement or pension plans .
- Deferred compensation: Available via Participating Funds’ Deferred Compensation Plan; distributions selectable lump-sum or over 2–20 years; credited as if invested in eligible Nuveen funds .
| Compensation Component | 2023 | 2024 | 2025 |
|---|---|---|---|
| Base Annual Retainer | $210,000 | $350,000 | $350,000 |
| Audit Committee Membership | $2,500/meeting | $30,000 annual | $35,000 annual |
| Compliance Committee Membership | $5,000/meeting | $30,000 annual | $35,000 annual |
| Investment Committee Membership | $2,500/meeting | $20,000 annual | $30,000 annual |
| Dividend/Nom & Gov/Closed-End Membership | $1,250–$5,000/meeting (per committee) | $20,000 annual each | $25,000 annual each |
| Board Chair Fee | $140,000 | $140,000 | $150,000 |
| Actual Compensation Paid (Last Fiscal Year) | Amount |
|---|---|
| From NOM (Missouri Municipal) to John K. Nelson | $149 |
| Total from Nuveen Fund Complex (all funds) to John K. Nelson | $483,250 |
Performance Compensation
No performance-based compensation or bonus metrics are disclosed for Independent Board Members; compensation consists of cash retainers, committee retainers, and meeting/ad hoc fees, with optional deferred compensation tied to fund share equivalents, not operating performance metrics .
Other Directorships & Interlocks
| Company/Institution | Type | Role | Period |
|---|---|---|---|
| Core12 LLC | Private | Director | 2008–2023 |
| Fordham University | Academic | President’s Council (Director) | 2010–2019 |
| Curran Center for Catholic American Studies | Academic | Director | 2009–2018 |
| Marian University | Academic | Trustee; Chairman, Board of Trustees | 2011–2013 |
- No current public company directorships disclosed for Nelson; no disclosed interlocks with NOM’s key counterparties or service providers .
Expertise & Qualifications
- Global banking and markets leadership, including derivatives, FX, fixed income, commodities, and emerging markets; senior executive roles at ABN AMRO .
- Designated audit committee financial expert; deep governance and financial reporting oversight experience .
- Advanced academic credentials in economics and finance (Fordham BA; MBA) .
Equity Ownership
- Beneficial ownership in NOM: Dollar range $0; shares owned: 0 (as of Dec 31, 2024) .
- Aggregate holdings across family of investment companies overseen: Over $100,000 (as of Dec 31, 2024) .
- Ownership concentration: Each Board Member’s individual beneficial shareholdings in each Fund, including NOM, constituted less than 1% of outstanding shares (as of Feb 18, 2025) .
- Stock ownership guideline: Board expects each Independent Board Member to invest at least the equivalent of one year of compensation in funds in the Fund Complex (directly or on a deferred basis) .
- Deferred fees: Proxy table shows deferred fee balances by individual; no deferred amounts are listed under Nelson’s column entries, indicating no disclosed participation in the Deferred Compensation Plan for the listed Participating Funds in the period shown .
Governance Assessment
- Strengths: Long tenure (since 2013), independence, Audit Committee Chair and SEC-designated financial expert; broad committee participation; attendance at or above 75% threshold; extensive financial markets/accrual accounting oversight background—supports board effectiveness and risk oversight for NOM .
- Alignment: Board-level guideline to invest at least one year of compensation in fund complex; Nelson shows aggregate “Over $100,000” holdings in the family of investment companies, though no direct holdings in NOM as of the stated date—partial alignment via complex-level exposure rather than NOM-specific exposure .
- Conflicts/Related-party exposure: None disclosed for Nelson; Section 16(a) filings compliant; no related-party transactions disclosed for Nelson; (sample related-party holdings shown for another trustee, not Nelson) .
- Compensation changes: 2024–2025 shift to higher fixed retainers and formalized committee retainers enhances predictability but reduces at-risk pay—typical for Independent Directors; no performance metrics/bonuses disclosed .
- RED FLAGS: Limited NOM-specific ownership (0 shares) may be noted by governance-focused investors; however, complex-wide holding expectations and deferred-comp structure aim to address alignment at the complex level . No attendance, related-party, or option repricing red flags disclosed .
Citations: See bracketed references throughout sourced from the 2025 DEF 14A.