Kevin J. McCarthy
About Kevin J. McCarthy
Kevin J. McCarthy serves as Vice President and Assistant Secretary of Nuveen Municipal Credit Income Fund (NZF), with service “since 2007.” His business address is 333 West Wacker Drive, Chicago, IL 60606, and his year of birth is 1966 . McCarthy holds senior legal and corporate secretarial roles across the Nuveen/TIAA complex (Executive Vice President, Secretary and General Counsel or Assistant Secretary at Nuveen Investments, Nuveen Securities, Nuveen Fund Advisors, Nuveen Asset Management, Teachers Advisors, TIAA‑CREF Investment Management, and Nuveen Alternative Investments), indicating deep governance and fund‑complex expertise; the proxy does not disclose his education or individual performance metrics (TSR, revenue/EBITDA growth) . He is also designated (with John M. McCann and Mark L. Winget) as a proxy holder for NZF’s annual shareholder meeting on August 14, 2025, underscoring his role in fund governance processes .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| NWQ Investment Management Company, LLC | Vice President; Secretary | Vice President (2007–2021); Secretary (2016–2021) | Not disclosed |
| Santa Barbara Asset Management, LLC | Vice President; Secretary | Vice President (2007–2021); Secretary (2016–2021) | Not disclosed |
| Nuveen/TIAA fund complex (various entities listed below) | Executive VP; Secretary; General Counsel; Assistant Secretary | Not disclosed | Not disclosed |
Entities include: Nuveen Investments, Inc.; Nuveen Securities, LLC; Nuveen Fund Advisors, LLC; Nuveen Asset Management, LLC; Teachers Advisors, LLC; TIAA‑CREF Investment Management, LLC; Nuveen Alternative Investments, LLC; TIAA‑CREF Funds; TIAA‑CREF Life Funds .
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Winslow Capital Management, LLC | Vice President and Secretary | Not disclosed | Not disclosed |
Fixed Compensation
- Officers (including Kevin J. McCarthy) “receive no compensation from the Funds,” and the Funds have no employees; compensation for the Chief Compliance Officer is paid by the Adviser, with the Funds reimbursing an allocable portion of the Adviser’s CCO incentive compensation .
Performance Compensation
- No officer‑specific bonus, RSU/PSU, option grants, performance metric weightings, or payout/vesting disclosures for NZF officers (including McCarthy) are provided in the proxy. Officers serve without compensation from the Funds, and no officer incentive plans tied to NZF performance are disclosed .
Equity Ownership & Alignment
| Metric | NZF (Credit Income) | Notes |
|---|---|---|
| Officer’s individual beneficial ownership | Not disclosed | Proxy provides individual ownership for Board Members; officers’ individual holdings are not itemized . |
| Board Members and officers as a group – NZF shares | 28,757 | As of May 31, 2025 . |
| Each Board Member’s individual holdings <1% of fund | Yes | As of June 20, 2025; group holdings <1% for each Fund . |
| Board Member ownership guideline | Expected to invest ≥1 year of compensation in Fund Complex | Applies to Board Members; not stated for officers . |
| Pledging/hedging | Not disclosed | No pledging/hedging disclosures for officers . |
- Section 16(a) compliance: The proxy states Board Members and officers complied with applicable Section 16(a) filing requirements during the last fiscal year; the filing does not enumerate McCarthy’s individual Section 16 positions or transactions .
Employment Terms
| Item | Disclosure |
|---|---|
| Office/Title | Vice President and Assistant Secretary |
| Length of Service | Since 2007 |
| Election/Term Mechanics | Officers are elected annually by the Board and serve until successors are elected and qualified . |
| Employer Relationship | Funds have no employees; officers’ compensation is not paid by the Funds . |
| Employment Agreement | Not disclosed |
| Severance/Change‑of‑Control | Not disclosed |
| Non‑compete/Non‑solicit | Not disclosed |
| Clawbacks/Tax gross‑ups | Not disclosed |
| Garden leave/Consulting post‑termination | Not disclosed |
Investment Implications
- Compensation alignment: With officers receiving no compensation from NZF and no fund‑level equity awards disclosed, McCarthy’s pay‑for‑performance linkage to NZF appears limited; incentives likely reside at Nuveen/TIAA rather than the fund, reducing direct alignment with NZF’s share price or TSR .
- Insider selling pressure: The proxy does not disclose officer‑level holdings for McCarthy, and group ownership is small (<1% for each Fund), suggesting low potential for officer‑driven selling pressure at NZF; Section 16(a) compliance is noted without individual detail .
- Retention risk: McCarthy’s long tenure (since 2007) and annual officer elections indicate stability; the absence of disclosed severance or change‑of‑control arrangements at the Fund reduces fund‑level retention economics as levers, with retention dynamics likely governed by Nuveen/TIAA employment terms .
- Governance signal: McCarthy’s designation as a proxy holder for the annual meeting reflects his role in fund governance and shareholder processes; however, compensation benchmarking and say‑on‑pay are Board‑centric and do not apply to officers at NZF .