Brett E. Black
About Brett E. Black
Brett E. Black serves as Vice President and Chief Compliance Officer of Nuveen Municipal Value Fund, Inc. (NUV) with an indefinite term and service since 2022; he is a Managing Director and Chief Compliance Officer at Nuveen, based at 333 West Wacker Drive, Chicago, IL, and was born in 1972 . Prior to Nuveen, he held senior compliance leadership roles at BMO Funds, Inc., including Chief Compliance Officer and Anti-Money Laundering Compliance Officer (2017–2022) and Deputy Chief Compliance Officer (2014–2017), and at BMO Asset Management Corp. as Senior Compliance Officer (2012–2014) . Officers of the Funds receive no compensation from NUV; the proxy statements do not disclose fund-level performance-linked compensation metrics for officers, nor officer beneficial ownership .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BMO Funds, Inc. | Chief Compliance Officer; Anti-Money Laundering Compliance Officer | 2017–2022 | Not disclosed |
| BMO Funds, Inc. | Deputy Chief Compliance Officer | 2014–2017 | Not disclosed |
| BMO Asset Management Corp. | Senior Compliance Officer | 2012–2014 | Not disclosed |
External Roles
No external board or directorship roles disclosed for Brett E. Black in NUV proxy filings .
Fixed Compensation
Officers receive no compensation from the Funds; NUV proxies do not report base salary, bonus, or cash compensation for fund officers .
Performance Compensation
Not disclosed for fund officers. NUV proxies do not provide performance metric weightings, targets, payouts, or vesting for officers (officers are compensated by Nuveen/TIAA affiliates, not by the Funds) .
Equity Ownership & Alignment
- Officer beneficial ownership in NUV is not disclosed in proxy Appendices; beneficial ownership tables cover Board Members/Nominees and not officers .
- No disclosure of shares pledged, hedging, or officer stock ownership guidelines for Brett E. Black .
Employment Terms
| Item | Disclosure |
|---|---|
| Position | Vice President and Chief Compliance Officer of NUV |
| Term of Office | Indefinite; officers are elected annually by the Board to serve until successors are elected and qualified |
| Length of Service | Since 2022 |
| Compensation Paid by NUV | Officers receive no compensation from the Funds |
| Section 16 Filings | Funds state Board Members and officers complied with applicable Section 16(a) requirements in the last fiscal year reviewed |
Related governance context: The Fund’s Board consolidation across the Nuveen/TIAA fund complex was approved and implemented effective January 1, 2024 to drive efficiencies and standardized oversight; this affects board structure but not officer compensation disclosure .
Investment Implications
- Compensation alignment: Because officers are not compensated by NUV, pay-for-performance linkages at the fund level are opaque; any incentive metrics and vesting schedules (if any) reside within Nuveen/TIAA employment arrangements not disclosed in NUV filings, limiting direct analysis of fund-level incentives for Brett Black .
- Insider selling/ownership signals: Proxy beneficial ownership tables exclude officers; without officer-level holdings or pledging disclosure, there are no direct alignment or selling-pressure signals to interpret from NUV filings .
- Retention risk: Indefinite term, annual election by the Board, and a long compliance-tenure background suggest structural continuity; absence of disclosed severance/change-of-control terms for officers means limited visibility into retention economics or potential transition costs at the fund level .
- Governance environment: The 2023–2024 Board consolidation across the fund complex standardizes oversight and may reduce governance friction; however, it does not change the fact that officer compensation is outside the fund’s proxy disclosure scope .
- Monitoring: Given the fund-level disclosure limitations, monitor Section 16 ownership filings for NUV (if any) and future Item 5.02 8-Ks for officer-related changes to capture potential trading or retention signals; past filings indicate compliance with Section 16 requirements .