Brett E. Black
About Brett E. Black
Brett E. Black (born 1972) serves as Vice President and Chief Compliance Officer of the Fund, having served as an officer since 2022; he is also a Managing Director and Chief Compliance Officer at Nuveen . Fund officers are elected by the Board on an annual basis to serve until successors are elected and qualified . The Fund’s officers receive no compensation from the Fund; the Chief Compliance Officer’s compensation is paid by the Adviser (Nuveen) with review and input by the Board, and the Fund reimburses the Adviser for an allocable portion of the Adviser’s cost of the CCO’s incentive compensation . Prior to Nuveen, Black held compliance leadership roles at BMO Funds, including Chief Compliance Officer and Anti-Money Laundering Compliance Officer (2017–2022), Deputy CCO (2014–2017), and Vice President (2014–2022), and earlier was a Senior Compliance Officer at BMO Asset Management Corp. (2012–2014) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Nuveen | Managing Director, Chief Compliance Officer | 2025 (disclosed as current) | Not disclosed |
| Nuveen | Enterprise Senior Compliance Officer | 2022 | Not disclosed |
| BMO Funds, Inc. | Chief Compliance Officer and Anti-Money Laundering Compliance Officer | 2017–2022 | Not disclosed |
| BMO Funds, Inc. | Deputy Chief Compliance Officer | 2014–2017 | Not disclosed |
| BMO Funds, Inc. | Vice President | 2014–2022 | Not disclosed |
| BMO Asset Management Corp. | Senior Compliance Officer | 2012–2014 | Not disclosed |
Fixed Compensation
Officers receive no compensation from the Fund; the CCO’s compensation is paid by the Adviser, with the Fund reimbursing an allocable portion of the Adviser’s cost of the CCO’s incentive compensation .
| Component | Fund-level disclosure | Notes |
|---|---|---|
| Base salary | Not disclosed by the Fund | Officers receive no compensation from the Fund; CCO comp is paid by Adviser |
| Target/actual bonus | Not disclosed by the Fund | Fund reimburses Adviser for an allocable portion of the CCO’s incentive compensation |
| Equity/stock awards | Not disclosed by the Fund | No equity grants to Fund officers disclosed in proxy |
| Perquisites/other | Not disclosed by the Fund | Not discussed for officers; Board compensation/perqs are separate |
Performance Compensation
No performance metric design, weights, targets, or vesting schedules are disclosed at the Fund level for the CCO. Compensation is administered by the Adviser (Nuveen); the Fund only notes reimbursement mechanics for a portion of the CCO’s incentive compensation, without metric-level detail .
Equity Ownership & Alignment
| Item | Fund proxy disclosure |
|---|---|
| Beneficial ownership (officers) | Beneficial ownership tables cover Board Members/Nominees; officer share ownership is not presented in the proxy . |
| Ownership as % of shares outstanding | Not disclosed for officers . |
| Vested vs unvested shares; options | Not disclosed for officers . |
| Shares pledged/hedging | Not disclosed for officers . |
| Stock ownership guidelines (officers) | Not disclosed at the Fund level . |
Employment Terms
| Term | Detail |
|---|---|
| Fund officer title | Vice President and Chief Compliance Officer |
| Year of birth | 1972 |
| Start in current Fund officer role | Since 2022 |
| Term of office | Indefinite; officers are elected annually to serve until successors are elected and qualified |
| Employer of record for compensation | Adviser (Nuveen); Fund reimburses a portion of the Adviser’s cost of the CCO’s incentive compensation |
Investment Implications
- Compensation alignment with Fund performance: The Fund does not set or disclose the CCO’s compensation structure or performance metrics; pay is set by the Adviser, and only an allocable portion of incentive compensation is reimbursed by the Fund. This limits visibility into pay-for-performance alignment at the Fund level and reduces direct trading signal value from compensation disclosures .
- Retention risk: Tenure as Fund officer since 2022 and current senior role at Nuveen suggest organizational continuity; there are no term limits, but officers are elected annually. No change-of-control, severance, or non-compete terms are disclosed at the Fund level for officers, so retention analysis hinges on Nuveen’s internal arrangements (not publicly disclosed here) .
- Insider selling pressure: The proxy does not disclose officer equity ownership, option holdings, or vesting schedules; beneficial ownership disclosure is limited to Board Members/Nominees. Absence of disclosed officer equity grants at the Fund implies limited direct selling pressure tied to Fund-level awards .
- Monitoring: Given limited officer-level compensation and ownership disclosure at the Fund, watch for any future Item 5.02 8-Ks or Nuveen disclosures that could indicate changes in compliance leadership or compensation policies (none specific to Black identified in the documents searched here).
Citations:
- 2025 DEF 14A officer roster and roles; annual election; year of birth; titles
- 2025 DEF 14A board/compensation framework; Fund/Adviser CCO compensation and reimbursement mechanics
- 2023 DEF 14A officer roster; roles at Nuveen and BMO
- 2022 DEF 14A officer roster; roles at Nuveen and BMO (including BMO Asset Management Corp.)
- 2022 and 2025 DEF 14A statements on Fund officer compensation and CCO reimbursement
- 2025 DEF 14A Beneficial Ownership (Board Members/Nominees only)