Joseph T. Castro
About Joseph T. Castro
Joseph T. Castro serves as Vice President of Nuveen Municipal Value Fund, Inc. (NUV) and is listed with a year of birth of 1964; he has served since 2025, with an indefinite term and officers elected annually by the Board until successors are elected and qualified . His core credentials are enterprise risk and compliance: Executive Vice President, Chief Risk and Compliance Officer at Nuveen; formerly Senior Managing Director and Head of Compliance at Nuveen, and Senior Managing Director across Nuveen Fund Advisors, LLC, Nuveen Securities, LLC, and Nuveen, LLC . Performance metrics (e.g., TSR, revenue/EBITDA growth) for officers are not disclosed in NUV’s proxy materials; the fund has no employees and officer compensation is paid by the Adviser (Nuveen), not the fund, limiting pay-for-performance visibility at the fund level .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Senior Managing Director and Head of Compliance | Not disclosed | Led enterprise compliance function; aligns with risk and regulatory oversight mandates |
| Nuveen Fund Advisors, LLC; Nuveen Securities, LLC; Nuveen, LLC | Senior Managing Director | Not disclosed | Senior leadership across advisory and distribution affiliates; supports fund governance and controls |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Executive Vice President, Chief Risk and Compliance Officer | Current | Oversees risk and compliance across Nuveen; directly relevant to fund-level compliance, valuation, leverage, and regulatory oversight |
Fixed Compensation
| Component | Amount/Policy | Source |
|---|---|---|
| Compensation from NUV | $0; officers serve without any compensation from the Funds | |
| Employer of record | Compensation paid by the Adviser (Nuveen); fund reimburses an allocable portion of the Adviser’s cost of the CCO’s incentive compensation | |
| Retirement/Pension | Funds do not have retirement or pension plans | |
| Deferred Compensation | Available to Independent Board Members via a plan; not applicable to officers |
Notes: No disclosure of Castro’s base salary, bonus targets/payouts, equity awards, or vesting—these are determined at Nuveen (Adviser), not NUV, and are not reported in NUV’s proxy .
Equity Ownership & Alignment
| Item | Value | Source |
|---|---|---|
| Castro individual ownership in NUV | Not disclosed | |
| Board Members and executive officers as a group – % of NUV | Less than 1% of outstanding shares | |
| Board Members and officers as a group – NUV shares | 0 | |
| Pledging/Hedging | Not disclosed | |
| Ownership guidelines (Board) | Independent Board Members expected to invest at least one year of compensation in the funds overseen; guideline pertains to Board, not officers |
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Fund role | Vice President, NUV | |
| Start of service | Since 2025 | |
| Term | Indefinite; officers elected annually by the Board until successors are elected and qualified | |
| Employment contract | Not disclosed in fund proxy (officers are Nuveen employees; the Fund has no employees) | |
| Severance/Change-of-control | Not disclosed | |
| Clawback/Non-compete/Non-solicit | Not disclosed |
Investment Implications
- Pay-for-performance visibility: Officer compensation is at the Adviser (Nuveen) and not disclosed at the fund level; with $0 paid by NUV, investors lack line-of-sight to Castro’s salary/bonus/equity and performance metrics, limiting compensation-alignment analysis at the fund level .
- Alignment via ownership: Group holdings (Board Members and executive officers) in NUV are under 1% and specifically zero shares for the group in NUV, which suggests limited direct “skin-in-the-game” alignment for fund officers; no pledging/hedging disclosures identified .
- Retention risk: Term is indefinite with annual election by the Board; absence of disclosed employment contracts, severance, or change-of-control terms at the fund level means retention economics and protections must be evaluated at Nuveen/TIAA, not NUV; the fund has no employees .
- Trading signals: No officer-level Form 4/insider trade details in the proxy; Section 16(a) filing compliance noted, but without transaction detail, there are no fund-level insider selling pressure indicators for Castro from NUV’s materials .