John Alban
About John H. Alban
John H. Alban (born 1963) serves as an Independent Trustee of the NXG NextGen Infrastructure Income Fund (NXG) and the SRV fund; he has served on the board since 2023 and is a Class II Trustee with the next anticipated election in 2026. He previously served as Chief Executive Officer (2019–2022) and Chief Operating Officer (2010–2019) of the Adviser (Cushing Asset Management, LP), and as Chief Executive Officer and President of funds in the complex (2021–2022), bringing financial, regulatory and investment oversight experience to the board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Cushing Asset Management, LP (Adviser) | Chief Executive Officer | 2019–2022 | Executive leadership of the Adviser (investment adviser to the funds) |
| Cushing Asset Management, LP (Adviser) | Chief Operating Officer | 2010–2019 | Operational leadership; oversight relevant to fund operations |
| Funds in the Fund Complex | CEO and President | 2021–2022 | Led fund-level management prior to becoming trustee |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No other public company directorships reported in past five years |
Board Governance
- Independence and tenure: Classified as an Independent Trustee; trustee since 2023; Class II with next anticipated election at NXG’s 2026 annual meeting .
- Board leadership: Board has an independent Chair (Brian R. Bruce); board meets regularly four times per year with additional special meetings; Independent Trustees are advised by independent counsel and regularly meet outside management presence .
- Committees (all Independent Trustees only):
- Audit Committee: Andrea N. Mullins (Chair; designated audit committee financial expert), Brian R. Bruce, and John H. Alban .
- Nominating & Corporate Governance Committee: John H. Alban (Chair), Brian R. Bruce, and Andrea N. Mullins; also reviews compensation for the CCO and Independent Trustees .
- Meetings and attendance (FY ended Nov 30, 2024): NXG Board met 6 times; Audit Committee met 1 time; Nominating & Corporate Governance met 2 times; each Trustee attended all board and committee meetings on which they served (100% attendance) .
Fixed Compensation
| Component | FY2024 NXG | FY2024 SRV | Fund Complex Total |
|---|---|---|---|
| Trustee/Committee Cash Fees (Alban) | $0 | $0 | $0 |
| Pension/Retirement Benefits | None | — | — |
Officers receive no compensation from the funds; trustee compensation is paid by the funds and no pension/retirement benefits are provided by the fund complex .
Performance Compensation
- No performance-based compensation, equity awards, or performance metrics are disclosed for Independent Trustees; the compensation table shows only cash paid amounts to trustees (none for Alban in FY2024) and notes no pension or retirement benefits .
Other Directorships & Interlocks
| Company | Industry | Role | Dates | Interlock/Conflict Notes |
|---|---|---|---|---|
| — | — | — | — | None reported; no other directorships in past five years |
Expertise & Qualifications
- The board cites availability/commitment, personal/professional background, educational background, financial expertise, and judgment as selection factors; Alban’s prior CEO/COO roles at the Adviser and fund CEO/President roles contribute financial, regulatory and investment oversight skills .
Equity Ownership
| Metric | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|
| NXG – Dollar Range (Alban) | $10,001–$50,000 | None |
| SRV – Dollar Range (Alban) | $50,001–$100,000 | None |
| Aggregate Fund Complex – Dollar Range (Alban) | Over $100,000 | None |
| Group ownership (all trustees/officers) as % of outstanding shares | <1% (each fund) | <1% (each fund) |
Note: Alban’s reported holdings moved from meaningful ranges at year-end 2023 to “None” as of year-end 2024, indicating a full exit of fund shares during 2024 .
Governance Assessment
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Positives
- Independent status with committee leadership: Alban chairs Nominating & Corporate Governance and serves on Audit alongside an audit committee financial expert; committees comprise only Independent Trustees, reinforcing oversight quality .
- Engagement: 100% attendance at board and relevant committee meetings in FY2024; board met 6 times, committees met 3 times total .
- Board structure: Independent Chair; Independent Trustees use independent counsel and meet outside management, supporting effective oversight .
-
Potential Risks / RED FLAGS
- Prior affiliation with Adviser: Alban previously served as CEO and COO of the Adviser and as fund CEO/President; while currently classified as Independent, prior executive ties can be a perceived conflict, especially given oversight of the Adviser by the board .
- Ownership alignment: Reported holdings declined to “None” in both funds as of Dec 31, 2024 after having holdings in 2023; lack of current skin-in-the-game may be viewed as an alignment gap by some investors .
- Unusual compensation line: FY2024 trustee compensation table shows $0 paid to Alban across both funds (while other Independent Trustees received typical fees), which is atypical and not explained in the proxy; lack of disclosure on reason (waiver, deferral, timing) limits transparency .
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Additional observations
- Section 16 reporting: The delinquent Section 16(a) disclosures did not cite Alban; late filings noted were for other individuals (e.g., CCO initial Form 3; a trustee at SRV; and an NXG-related Form 4 for the parent company chairman), suggesting no reported delinquency by Alban .
- No other public board seats reported, implying low interlock risk .