Kevin J. McCarthy
About Kevin J. McCarthy
Kevin J. McCarthy is Vice President and Assistant Secretary of Nuveen Virginia Quality Municipal Income Fund (NPV), serving since 2007. He is Executive Vice President, Secretary and General Counsel across multiple Nuveen/TIAA entities, including Nuveen Investments, Inc.; Nuveen Securities, LLC; Nuveen Fund Advisors, LLC; Nuveen Asset Management, LLC; Teachers Advisors, LLC; TIAA‑CREF Investment Management, LLC; and Nuveen Alternative Investments, LLC, and has previously held various officer roles across the TIAA/Nuveen fund complex; year of birth: 1966 . Fund filings do not disclose executive performance metrics (e.g., TSR, revenue, EBITDA) linked to his compensation; officers receive no compensation from the Fund (compensation is at the Adviser level) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Investments, Inc. | Executive Vice President; Secretary; General Counsel | Not specified (Secretary/GC since 2016 noted historically) | Senior legal and governance leadership across Nuveen funds |
| Nuveen Securities, LLC | Executive Vice President; Assistant Secretary | EVP 2016–2017; Assistant Secretary since 2008; Senior Managing Director since 2017 | Legal/compliance oversight for distribution entities |
| Nuveen Fund Advisors, LLC | Executive Vice President (2016–2017); Secretary since 2016; Co‑General Counsel (2011–2020); Senior Managing Director since 2017 | Adviser governance and fund legal management | |
| Nuveen Asset Management, LLC | Executive Vice President (2016–2017); Secretary since 2016; Associate General Counsel (2011–2020); Senior Managing Director since 2017 | Asset manager legal and governance oversight | |
| Teachers Advisors, LLC; TIAA‑CREF Investment Management, LLC; Nuveen Alternative Investments, LLC | Executive Vice President; Secretary (and General Counsel for Teachers Advisors/TIAA‑CREF IM) | Not specified | Cross‑platform fund complex legal leadership |
| NWQ Investment Management Company, LLC | Vice President (2007–2021); Secretary (2016–2021) | 2007–2021 | Subsidiary governance and fund legal roles |
| Santa Barbara Asset Management, LLC | Vice President (2007–2021); Secretary (2016–2021) | 2007–2021 | Subsidiary governance and fund legal roles |
| Winslow Capital Management, LLC | Vice President and Secretary | Not specified | Affiliate governance responsibilities |
External Roles
No external public company directorships or committee roles are noted in McCarthy’s biographies within NPV proxy filings .
Fixed Compensation
Officers of the Fund receive no compensation from NPV; the Fund has no employees. The Chief Compliance Officer is compensated by the Adviser (Nuveen), with the Fund reimbursing an allocable portion of incentive compensation; no officer‑specific salary/bonus amounts are disclosed for McCarthy .
| Component | Amount | Notes |
|---|---|---|
| Fund‑paid base salary | $0 | Officers receive no compensation from the Funds |
| Fund‑paid bonus/incentive | $0 | Officers receive no compensation from the Funds |
| Adviser‑paid compensation | Not disclosed | Paid by Adviser; only CCO reimbursement mechanics described |
Performance Compensation
No performance‑based compensation (RSUs/PSUs/options, metric targets, vesting schedules, or payout formulas) is disclosed for Fund officers; compensation is at the Adviser level and not reported in Fund filings .
Equity Ownership & Alignment
| Item | Value | Source/Notes |
|---|---|---|
| McCarthy individual Fund share ownership | Not disclosed | Individual officer holdings are not itemized; only Board Members and officers “as a group” are shown |
| Board Members and officers “as a group” – NPV | 0 shares | As of Dec 31, 2024; table reports 0 for Virginia Municipal |
| Shares outstanding – NPV | 18,245,696 common; 1,280 preferred (VRDP Series 1) | As of Feb 18, 2025 |
| Group ownership as % of outstanding | 0% | Derived from 0 shares vs 18,245,696 outstanding |
| Board Member ownership guideline | Expect investment equal to one year of compensation (Board Members only) | Governance principle; not stated for officers |
| Hedging/pledging disclosures (officers) | Not disclosed | No officer stock hedging/pledging policy noted in Fund filings |
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Position | Vice President and Assistant Secretary | |
| Length of service | Since 2007 | |
| Term of office | Indefinite; officers elected annually by the Board | |
| Severance / change‑of‑control | Not disclosed | Searched proxy; no officer severance/CoC terms found |
| Clawback / non‑compete / consulting | Not disclosed | No officer‑specific policies disclosed in Fund filings |
| Section 16(a) filings (last fiscal year) | Fund believes Board Members and officers complied |
Investment Implications
- Pay‑for‑performance linkage at the Fund level is absent for officers; compensation is at the Adviser (Nuveen/TIAA) and not disclosed in NPV filings, limiting the ability to assess McCarthy’s cash/equity mix, metric rigor, or vesting risk from Fund disclosures .
- Insider selling/vesting pressure appears minimal at the Fund level: NPV reports 0 shares held by Board Members and officers “as a group” as of Dec 31, 2024; no individual officer holdings (including McCarthy) are disclosed, and officers receive no Fund compensation .
- Alignment and retention risk should be evaluated at the Adviser level (Nuveen/TIAA), where any employment contracts, equity awards, and severance/CoC terms would reside; NPV filings provide no visibility into those terms .
- Governance/process note: McCarthy is a long‑tenured fund officer and regularly named as a proxy holder on Fund proxy cards, indicating continuing operational involvement, but this does not translate into disclosed pay or equity alignment within NPV itself .