Joseph Castro
About Joseph Castro
Joseph T. Castro is Vice President of NPCT with an indefinite term and has served since 2025; he was born in 1964 and is currently Executive Vice President and Chief Risk and Compliance Officer at Nuveen, formerly Senior Managing Director and Head of Compliance at Nuveen and Senior Managing Director across Nuveen Fund Advisors, Nuveen Securities, and Nuveen, LLC . Officers receive no compensation from the Funds and are elected annually by the Board to serve until successors are elected and qualified; the Funds report compliant Section 16(a) filings for officers and Board Members in the last fiscal year . Fund filings do not disclose education details or performance metrics (TSR, revenue, EBITDA) tied to Castro’s compensation; officer compensation is not set or paid by the Funds .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Executive Vice President, Chief Risk and Compliance Officer | Past 5 years (as of Mar 1, 2025) | Enterprise compliance and risk leadership at adviser/affiliates |
| Nuveen | Senior Managing Director and Head of Compliance | Prior role (dates not specified) | Led compliance function |
| Nuveen Fund Advisors, LLC; Nuveen Securities, LLC; Nuveen, LLC | Senior Managing Director | Prior roles (dates not specified) | Senior leadership across fund adviser and broker-dealer affiliates |
External Roles
None disclosed in NPCT proxy filings reviewed; principal occupation is at Nuveen (the adviser) .
Fixed Compensation
| Component | Disclosure | Source/Notes |
|---|---|---|
| Fund-level officer compensation | $0 (officers receive no compensation from the Funds) | Officers serve without compensation from NPCT and other Nuveen Funds |
| Compensation payer | Adviser (Nuveen) | Officer pay is set/paid by the Adviser, not the Funds |
| CCO compensation structure (reference) | Base salary + incentive; Funds reimburse Adviser for allocable portion of CCO incentive | Structure disclosed for the Funds’ CCO; Castro is EVP/Chief Risk & Compliance Officer at Nuveen, not the Funds’ CCO |
Performance Compensation
No performance metrics, targets, weightings, or payout schedules are disclosed for NPCT officers; compensation is not paid by the Funds and officer incentive frameworks (if any) reside at the Adviser and are not detailed in NPCT filings .
Equity Ownership & Alignment
As of February 18, 2025, each Board Member’s individual beneficial shareholdings of each Fund were <1% of outstanding, and Board Members and executive officers as a group beneficially owned <1% of the outstanding shares of each Fund .
| Fund | Group Shares (Board Members + Officers) |
|---|---|
| Floating Rate Income | 72,247 |
| Global High Income | 16,475 |
| Mortgage & Income | 499 |
| Multi-Asset Income | 199 |
| Real Estate Income | 1,344 |
| Preferred & Income Opportunities | 3,835 |
| S&P 500 Buy-Write | 6,690 |
Additional details such as Castro’s individual holdings, vested vs unvested shares, options status, and any pledging are not disclosed in NPCT proxy tables (Appendix A reports Board Member ranges and group totals, not officer-specific breakdowns) .
Employment Terms
| Item | Details |
|---|---|
| NPCT officer role | Vice President |
| Tenure in role | Since 2025 (indefinite term) |
| Election/renewal | Officers are elected annually by the Board; serve until successors are elected/qualified |
| Compensation payer | Adviser (Nuveen); officers receive no pay from the Funds |
| Severance/change-of-control | Not disclosed in NPCT filings reviewed |
| Non-compete/Non-solicit/Garden leave | Not disclosed in NPCT filings reviewed |
| Clawbacks/Ownership guidelines | Not disclosed for officers in NPCT filings reviewed |
Performance & Track Record
- Section 16(a) compliance: The Funds report that Board Members and officers complied with filing requirements in the last fiscal year and the previous fiscal year .
- Stock performance/TSR during Castro’s tenure: Not disclosed or linked to officer compensation in NPCT filings; market performance data is outside the scope of NPCT proxy officer disclosures .
Additional Notes on Insider Activity
Form 4 insider transaction data for NPCT (to analyze selling pressure or vesting-related sales) could not be retrieved due to an authorization error with the insider-trades tool. No NPCT filings reviewed provided officer-specific transaction details.
Investment Implications
- Pay-for-performance assessment is constrained: NPCT fund filings explicitly state officers receive no compensation from the Funds; officer compensation resides at the Adviser (Nuveen) with no disclosure of metrics, targets, or payouts for Castro, limiting evaluation of direct comp-performance alignment at the fund level .
- Alignment via ownership appears limited at the fund level: Board Members and officers collectively own <1% in each Fund; individual officer holdings (including Castro’s) are not broken out, reducing visibility into “skin-in-the-game” and potential insider selling pressure signals .
- Retention risk and contract economics are opaque: No employment agreement terms (severance, change-of-control, non-compete) are disclosed for officers, leaving retention/exit economics unknown at the fund level; Castro’s corporate role at Nuveen suggests that relevant terms, if any, would be governed by Nuveen policies rather than NPCT filings .
- Governance/compliance strength: Castro’s principal occupation as EVP, Chief Risk and Compliance Officer at Nuveen indicates institutional focus on compliance and risk oversight, and Section 16(a) compliance is reported—supportive of governance quality but not directly a trading signal .