Albin F. Moschner
About Albin F. Moschner
Independent Board Member of Nuveen Virginia Quality Municipal Income Fund (ticker: NPV); born 1952; joined the Nuveen Funds Board in 2016. Founder and CEO of Northcroft Partners, LLC since 2012; prior operating roles include COO and CMO at Leap Wireless, President at Verizon Card Services, President at One Point Communications, and CEO of Zenith Electronics. He holds a B.E. in Electrical Engineering (City College of New York, 1974) and M.S. in Electrical Engineering (Syracuse University, 1979). All Nuveen Funds Board Members, including Moschner, are “Independent Board Members” (not “interested persons” under the 1940 Act and independent per NYSE/NASDAQ standards) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Northcroft Partners, LLC | Founder & CEO | 2012–present | Management consulting; governance and operational solutions |
| Leap Wireless International, Inc. | Consultant; Chief Operating Officer; Chief Marketing Officer | Consultant 2011–2012; COO 2008–2011; CMO 2004–2008 | Consumer wireless; operating leadership |
| Verizon Communications, Inc. (Verizon Card Services) | President | 2000–2003 | Led card services division |
| One Point Communications | President, One Point Services | 1999–2000 | Telecom services leadership |
| Zenith Electronics Corporation | Director, President & CEO; Director, President & COO | 1995–1996; 1994–1995 | Consumer electronics; executive leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| USA Technologies, Inc. | Chairman (2019); Director | 2012–2019 | Oversight of electronic payments provider |
| Wintrust Financial Corporation | Director | 1996–2016 | Regional banking oversight |
| Kellogg School of Management | Advisory Board (emeritus) | 1995–2018 (emeritus since 2018) | Advisory leadership |
| Archdiocese of Chicago Financial Council | Advisory Board (emeritus) | 2012–2018 (emeritus since 2018) | Financial governance advisory |
Board Governance
- Independence: All Nuveen Funds Board Members, including Moschner, are independent (not “interested persons” under the 1940 Act; independent per NYSE/NASDAQ) .
- Attendance: Each Board Member attended at least 75% of Board and applicable committee meetings in the last fiscal year .
- Committee assignments:
- Closed-End Fund Committee: Chair .
- Nominating & Governance Committee: Member .
- Investment Committee: Member (Independent Trustees) .
- Compliance, Risk Management & Regulatory Oversight Committee: Member .
- Election/tenure: Joined Board in 2016; Board member across Nuveen Funds complex with staggered elections by fund; certain funds had holdover trustees due to lack of quorum in 2024 (contextual to Real Asset and Variable Rate Preferred & Income) .
Fixed Compensation
- Structure: Independent Board Members receive cash retainers; no pension plans; optional deferred compensation plan across participating Nuveen funds .
- Annual retainers effective January 1, 2024; increases effective January 1, 2025 noted below .
| Component | 2023 (pre-1/1/2024) | 2024 | 2025 |
|---|---|---|---|
| Board annual retainer (cash) | $210,000 | $350,000 | $350,000 |
| Audit Committee member | $2,500 per meeting | $30,000 annual | $30,000 annual |
| Compliance Committee member | $5,000 per meeting | $35,000 annual | $35,000 annual |
| Investment Committee member | $2,500 per meeting | $20,000 annual | $30,000 annual |
| Dividend Committee member | $500–$1,250 per meeting | $20,000 annual | $25,000 annual |
| Nominating & Governance member | $500 per meeting | $20,000 annual | $25,000 annual |
| Closed-End Fund Committee member | $2,500 per meeting | $20,000 annual | $25,000 annual |
| Board Chair/Co-Chair | $140,000 | $140,000 | $150,000 |
| Committee Chair (Audit; Compliance) | $20,000 | $30,000 | $35,000 |
| Committee Chair (Investment) | $20,000 | $20,000 | $30,000 |
| Committee Chair (Dividend; Nominating & Governance; Closed-End) | $20,000 | $20,000 | $25,000 |
| Ad hoc meeting fee | N/A | $1,000 or $2,500 per meeting (length/immediacy dependent) | $1,000 or $2,500 |
- Fund-specific aggregate compensation (last fiscal year): NPV (Virginia Municipal) paid Moschner $1,173 .
Performance Compensation
- Equity awards, options, PSUs/RSUs: None disclosed for Independent Board Members; directors are compensated via cash retainers and fees .
- Deferred compensation: Available via the Deferred Compensation Plan; Moschner shows no deferred amounts across participating funds in the reported table (entries shown as “—”) .
Other Directorships & Interlocks
| Company | Public/Private | Role | Years | Notes |
|---|---|---|---|---|
| USA Technologies, Inc. | Public | Chairman (2019); Director | 2012–2019 | Electronic payments; governance leadership |
| Wintrust Financial Corporation | Public | Director | 1996–2016 | Regional bank; long tenure |
- Interlocks/related party links: No Moschner-related holdings or transactions disclosed with companies advised by entities under common control with Nuveen; a separate disclosure lists holdings for another Board Member (Thomas J. Kenny), not Moschner .
Expertise & Qualifications
- Electrical engineering background (B.E., City College of New York; M.S., Syracuse University) .
- Operating executive across telecom and consumer electronics; consulting founder with governance/operations focus .
- Board chair experience and multi-fund oversight, including chairing the Closed-End Fund Committee .
Equity Ownership
- NPV (Virginia Municipal): Shares beneficially owned by Moschner — 0; Board Members’ individual holdings are less than 1% of each fund’s outstanding shares; group ownership for Virginia Municipal reported as 0 .
- Other Nuveen Funds (context): Moschner held 34,519 shares in Floating Rate Income and 1,017 shares in Real Estate Income as of December 31, 2024; dollar range shows $0 in Virginia Municipal .
| Fund | Shares Owned | Dollar Range |
|---|---|---|
| NPV (Virginia Municipal) | 0 | $0 |
| Floating Rate Income | 34,519 | Over $100,000 |
| Real Estate Income | 1,017 | $1–$10,000 |
Governance Assessment
- Strengths:
- Independent status with substantive operating background; multi-committee engagement (Compliance; Investment; Nominating & Governance) .
- Chairs Closed-End Fund Committee—direct influence over discount management, leverage oversight, distribution practices, and market dynamics affecting closed-end fund shareholder value .
- Attendance at or above the 75% threshold across Board/committee meetings, supporting engagement .
- Alignment and compensation:
- Compensation is cash-based and transparent with movement toward predictable annual retainers and committee retainers (reduced per-meeting variability), potentially improving continuity of oversight .
- NPV-specific ownership is zero; while common for multi-fund trustees, it presents limited direct alignment with NPV’s shareholders; aggregated board/management ownership across funds is <1%, indicating overall minimal insider ownership .
- Conflicts/related-party risk:
- No Moschner-related party transactions or common-control advised company holdings disclosed; low direct conflict signal from filings .
- RED FLAGS:
- Zero share ownership in NPV may be viewed as alignment risk for fund-specific oversight, though offset by broader fund complex holdings and deferred comp availability (which Moschner has not utilized per reported table) .