Dean A. Junkans
About Dean A. Junkans
Independent Director of Cohen & Steers Select Preferred and Income Fund, Inc. (PSF) since 2015; year of birth 1959; Chartered Financial Analyst (CFA). Background includes Chief Investment Officer roles at Wells Fargo (Private Bank 2004–2014; Wealth, Brokerage & Retirement 2011–2014), advisor to SigFig (2018–2022), academic and nonprofit governance experience; U.S. Army Veteran. Current PSF board term runs through 2026; oversees 23 funds in the Cohen & Steers Fund Complex; previously served as Governance Committee Chair (2018–2022) and currently serves as Contracts Review Committee Chair (since Jan 1, 2023) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Wells Fargo Private Bank | Chief Investment Officer | 2004–2014 | Led investment oversight for private banking clients |
| Wells Fargo & Company (Wealth, Brokerage & Retirement) | Chief Investment Officer | 2011–2014 | Enterprise CIO responsibilities for wealth platforms |
| SigFig (RIA) | Advisor | Jul 2018–Jul 2022 | External advisor to digital wealth firm |
| CFA Institute | Member and Chair, Claritas Advisory Committee | 2013–2015 | Curriculum oversight and advisory leadership |
| Bethel University | Adjunct Professor; Executive-In-Residence | 2015–2022 | Academic engagement and executive mentorship |
| Bethel University Foundation | Board Member; Investment Committee Member | 2010–2022 | Oversight of endowment investments |
| National Chief Investment Officers Circle | Corporate Executive Board Member | 2010–2015 | CIO network participation |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| University of Wisconsin Foundation, River Falls | Member, Board of Governors | 1996–2004 | External nonprofit governance |
| U.S. Army | Veteran (Gulf War) | N/A | Military service |
Board Governance
- Independence: Designated Independent Director; all committee members are Independent Directors under federal securities laws and NYSE standards .
- Committee assignments (PSF applies the same committee structure across the Fund Complex):
- Contracts Review Committee: Member and Chair (since Jan 1, 2023) .
- Nominating Committee: Member .
- Dividend Committee: Member .
- Governance Committee: Previously Chair (2018–2022); current membership not listed for him .
- Meeting attendance: Each Director in office attended at least 75% of aggregate meetings of the Boards and Committees of which they were members; no Directors attended the 2024 annual meeting (no attendance policy) .
- Committee activity (FY 2024): Audit (6 meetings), Governance (5), Contract Review (1), Dividend (2) .
- Board leadership: Separate Lead Independent Director role (Michael G. Clark) .
Fixed Compensation
- Independent Director pay structure (Fund Complex; effective Jan 1, 2025):
- Base retainer: $205,000 (paid quarterly) .
- Per-meeting fee: $12,500 per quarter ($50,000 annually) .
- Chair fees (aggregate across Complex): Audit Chair $40,000 (was $30,000 prior to Jan 1, 2025); Contract Review Chair $20,000; Governance Chair $20,000; Dividend Chair $10,000; Nominating Chair $20,000 only in years with active nominations; Lead Independent Director $65,000 .
- Prior-year structure (calendar 2024):
- Base retainer: $185,000; per-meeting fee $10,000 per quarter ($40,000 annually) .
| Component | 2024 Amount | 2025 Amount | Notes |
|---|---|---|---|
| Base Retainer (Independent Director) | $185,000 | $205,000 | Paid quarterly |
| Per-Meeting Fee (per quarter) | $10,000 | $12,500 | $40k → $50k annually |
| Contract Review Committee Chair | $20,000 | $20,000 | Aggregate across Complex |
| Audit Committee Chair | $30,000 | $40,000 | Aggregate across Complex |
| Governance Committee Chair | $20,000 | $20,000 | Aggregate across Complex |
| Dividend Committee Chair | $10,000 | $10,000 | Aggregate across Complex |
| Lead Independent Director | $65,000 | $65,000 | Aggregate across Complex |
| Nominating Chair (conditional) | $20,000 | $20,000 | Paid only if seat filled in year |
- Out-of-pocket reimbursements: PSF paid $152.07 to Directors in 2024 (expense reimbursement) .
| Fund | Out-of-pocket expenses (2024) |
|---|---|
| PSF | $152.07 |
- Individual compensation allocation (2024, paid by each fund and Complex total):
| Payee | PSF | Complex Total |
|---|---|---|
| Dean A. Junkans (Director, Contract Review Committee Chair) | $10,007.98 | $245,000 |
Directors do not receive pension or retirement benefits from the Fund Complex .
Performance Compensation
- No equity awards, options, or performance-linked pay disclosed for Independent Directors; compensation is cash-based retainers/meeting/chair fees .
| Metric | Structure | FY 2024/2025 Status |
|---|---|---|
| Equity grants (RSUs/PSUs) | Not part of director pay | None disclosed |
| Options | Not part of director pay | None disclosed |
| Performance metrics (TSR, EBITDA, ESG) | Not applicable to directors | None disclosed |
| Clawbacks | Not disclosed for directors | None disclosed |
| Change-of-control/severance | Not applicable to directors | None disclosed |
Other Directorships & Interlocks
| Company | Role | Public/Private/Nonprofit | Potential Interlock/Conflict |
|---|---|---|---|
| None disclosed (public company boards) | — | — | None disclosed |
Expertise & Qualifications
- CFA charterholder; multi-decade CIO experience in wealth management (Wells Fargo), digital advisory exposure (SigFig), and committee leadership (Claritas at CFA Institute) .
- Governance experience across academic and nonprofit boards; current chair of Contracts Review Committee; prior chair of Governance Committee .
Equity Ownership
- Advisor independence: As of Dec 31, 2024, none of the Independent Directors or their immediate family members owned securities in the Advisor (Cohen & Steers Capital Management, Inc.) or its affiliates .
- PSF share ownership ranges (as of Dec 31, 2024) for Directors:
| Director | PSF Dollar Range | Aggregate Dollar Range in Fund Complex |
|---|---|---|
| Dean A. Junkans | A: None | E: Over $100,000 (aggregate across Complex) |
- Shares outstanding (record date Feb 14, 2025): PSF had 12,028,187 shares; ownership implied 0% for PSF given “None” .
Governance Assessment
- Positives:
- Independent status; committee-only independent membership; adherence to regulatory and NYSE independence standards .
- Active governance roles: current Chair of Contracts Review; prior Governance Chair, indicating strong oversight of advisory contracts and board governance framework .
- Attendance: at least 75% of meetings; established committee cadence (Audit 6; Governance 5; Contract Review 1; Dividend 2), suggesting regular engagement .
- No Advisor security ownership by Independent Directors, reducing direct conflicts with the investment manager .
- Flags:
- PSF-specific ownership: “A: None” indicates no personal holding in PSF; while aggregate Complex exposure is “E: Over $100,000,” lack of PSF holding may be viewed as a modest alignment gap for fund-level incentives .
- Compensation increased for Independent Directors in 2025 (base retainer + per-meeting fee); monitor for pay inflation without corresponding governance enhancements; however, increases align with broader Complex changes and added committee chair workloads .
- Overall: Governance quality appears solid given independent committee structures and proactive contract/governance oversight by Junkans; no related-party transactions or performance-pay complexities disclosed that would impair independence or investor confidence .