Joseph T. Castro
About Joseph T. Castro
Joseph T. Castro (born 1964) is Vice President of Nuveen Virginia Quality Municipal Income Fund (NPV) with an indefinite term and service since 2025. His principal occupation is Executive Vice President and Chief Risk and Compliance Officer at Nuveen; he previously served as Senior Managing Director and Head of Compliance at Nuveen, and holds Senior Managing Director roles across Nuveen Fund Advisors, LLC, Nuveen Securities, LLC, and Nuveen, LLC . Officers of the Funds receive no compensation from the Funds, and the Funds’ governance is overseen by a unitary independent Board structure . Performance metrics (TSR, revenue, EBITDA) tied to Castro’s compensation are not disclosed in Fund filings.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Senior Managing Director and Head of Compliance | Not disclosed | Led compliance function at Nuveen (prior role) |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Executive Vice President, Chief Risk and Compliance Officer | Current | Enterprise risk and compliance leadership |
| Nuveen Fund Advisors, LLC | Senior Managing Director | Current | Senior management oversight |
| Nuveen Securities, LLC | Senior Managing Director | Current | Senior management oversight |
| Nuveen, LLC | Senior Managing Director | Current | Senior management oversight |
Fixed Compensation
| Component | 2025 | Notes |
|---|---|---|
| Compensation from NPV (Fund) | $0 | Officers serve without any compensation from the Funds |
| Compensation payer (general) | Adviser (Nuveen) | The Funds reimburse the Adviser for an allocable portion of the Fund CCO’s incentive comp; Castro’s pay is not detailed in Fund filings |
Performance Compensation
- Not disclosed for Castro; no metrics or payouts reported in Fund filings. Officers do not receive compensation from the Funds, and Nuveen-level compensation details are not provided in NPV’s proxy materials .
Equity Ownership & Alignment
| Metric | Value | Notes |
|---|---|---|
| Total beneficial ownership by Board Members and executive officers (group) | <1% of outstanding shares | As of Feb 18, 2025; individual officer holdings, including Castro, not itemized |
| Stock ownership guidelines / pledging | Not disclosed | No Castro-specific guideline compliance or pledging disclosures in Fund proxy |
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Position | Vice President | |
| Start of service | Since 2025 | |
| Term length | Indefinite | |
| Election & renewal | Officers are elected by the Board on an annual basis | |
| Contract / Severance | Not disclosed in Fund filings | — |
| Change-of-control | Not disclosed in Fund filings | — |
| Clawbacks / Non-compete | Not disclosed in Fund filings | — |
Investment Implications
- Pay-for-performance linkage at the Fund level is minimal for Castro: officers are unpaid by the Funds, and compensation is at the Adviser (Nuveen), with no Castro-specific targets disclosed; therefore, Fund performance (discounts, distribution policy, NAV returns) is not a lever on his compensation .
- Insider selling pressure appears limited at the fund: combined beneficial ownership of Board Members and executive officers is <1% of outstanding shares, and individual officer holdings (including Castro) are not disclosed, constraining alignment analysis and trading signals based on insider ownership .
- Retention risk and economics are governed by Nuveen-level employment terms not included in NPV filings; changes in Nuveen risk/compliance leadership could matter operationally, but no severance/CoC specifics for Castro are available in Fund documents .
- Governance quality remains anchored in a unitary, independent Board with active committees overseeing compliance, risk, audit, investment, and closed-end fund market dynamics, which may mitigate operational and compliance risks at the Fund level .