Brett E. Black
About Brett E. Black
Brett E. Black serves as Vice President and Chief Compliance Officer of Nuveen Municipal Credit Income Fund (NZF), with an indefinite term and service since 2022; the officers are elected annually to serve until successors are elected and qualified . He is Managing Director and Chief Compliance Officer at Nuveen; prior roles include Vice President (2014–2022), Chief Compliance Officer and Anti-Money Laundering Compliance Officer (2017–2022) at BMO Funds, Inc., and earlier compliance roles at BMO Asset Management Corp . Year of birth: 1972; address: 333 West Wacker Drive, Chicago, IL 60606 . No fund-level officer compensation is paid by NZF; compensation, if any, is subject to approval by the trustees per by-laws, and officers receive no compensation from the Funds .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Nuveen | Managing Director; Chief Compliance Officer | Since 2022 | Enterprise compliance leadership at Nuveen |
| BMO Funds, Inc. | Vice President; Chief Compliance Officer; AML Compliance Officer | 2014–2022 | Oversaw fund compliance and AML program |
| BMO Asset Management Corp. | Senior Compliance Officer | 2012–2014 | Senior compliance responsibilities supporting asset management operations |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Not disclosed in NZF filings | — | — | Officer biographies provided do not list external public company directorships |
Fixed Compensation
| Component | Amount/Terms | Source |
|---|---|---|
| Fund-paid officer compensation | Officers receive no compensation from the Funds | |
| Officer compensation governance | “The compensation, if any, of all officers shall be fixed by the Trustees.” |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting | Notes |
|---|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — | NZF filings do not disclose officer performance metrics or incentive payouts; officers receive no compensation from the Funds |
Equity Ownership & Alignment
| Form | Date of Event | Security | Beneficial Ownership | Derivatives | Ownership Form | Notes |
|---|---|---|---|---|---|---|
| Form 3 | 06/01/2022 (filed 06/07/2022) | NZF | No securities beneficially owned (0) | None reported | — | Initial statement listed role as Officer (Chief Compliance Officer); remarks explicitly state “No securities are beneficially owned.” |
- Shares pledged as collateral: Not disclosed in filings reviewed .
- Stock ownership guidelines and compliance status: Not disclosed in NZF filings .
Employment Terms
| Term | Provision | Source |
|---|---|---|
| Title and office | Vice President and Chief Compliance Officer | |
| Term of office | Indefinite; officers elected annually to serve until successors are elected and qualified | |
| Length of service | Since 2022 | |
| Appointment and removal | CCO appointed by and may only be removed by the Trustees; compensation subject to trustee approval | |
| Officer removal | CAO, Controller, any Vice President, Treasurer, Secretary or CCO may be removed at any time, with or without cause, by majority of Trustees present | |
| Compensation governance | “The compensation, if any, of all officers shall be fixed by the Trustees.” |
Investment Implications
- Pay-for-performance alignment: NZF states officers receive no compensation from the Funds, and no performance metrics or incentive details are disclosed, indicating limited direct alignment of fund-paid compensation with shareholder outcomes; any compensation occurs at the adviser and is not reported at the fund level .
- Insider selling pressure: Form 3 indicates zero beneficial ownership in NZF as of June 2022, reducing near-term selling pressure signals but also diminishing “skin-in-the-game” alignment at the fund level .
- Retention and governance: The Chief Compliance Officer’s appointment, removal, and compensation are controlled by the Trustees, with removal possible at any time via board resolution, suggesting standard governance oversight and flexibility rather than contractually fixed retention economics .
- Data gaps: No disclosures on severance, change-of-control terms, clawbacks, pledging, or ownership guidelines for officers in NZF filings; this limits benchmarking of compensation risk factors and pay-for-performance assessment at the fund level .