Joseph Andolina
About Joseph Andolina
Joseph Andolina (year of birth: 1978) serves as Chief Compliance Officer and Vice President, Compliance for abrdn World Healthcare Fund (THW) and the other abrdn Healthcare funds; he has held these fund officer roles since 2023. He is currently Chief Risk Officer—Americas and Chief Compliance Officer for abrdn Inc.; prior to joining abrdn’s Risk & Compliance function, he served in the Legal Department as U.S. Counsel since 2012 . The joint proxy does not disclose individual executive performance metrics (e.g., TSR, revenue, EBITDA) tied to his role .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| abrdn Inc. | U.S. Counsel, Legal Department | 2012–prior to 2023 | In-house legal counsel supporting U.S. operations; foundation for subsequent compliance leadership |
| abrdn Inc. | Chief Risk Officer—Americas; Chief Compliance Officer | 2023–present | Oversees risk management across the Americas and firm-wide compliance; aligns fund compliance oversight with adviser policies |
| abrdn World Healthcare Fund (THW) and related abrdn Healthcare funds (HQH, HQL, THQ) | Chief Compliance Officer; Vice President, Compliance | 2023–present | Fund officer responsible for compliance programs and reporting to Boards/committees |
External Roles
No external directorships or outside roles for Andolina are disclosed in the proxy .
Fixed Compensation
- Officers of the Funds (including the Chief Compliance Officer) are employees of abrdn Inc. or an affiliate and do not receive compensation directly from the Funds; officer compensation is paid by abrdn Inc. .
- As background, under a Services Agreement in prior proxies, each Fund reimbursed the Adviser for a portion of the salary and benefits of the Fund’s Chief Compliance Officer (policy disclosure as of FY2021; current-year reimbursement terms not itemized in the 2025 proxy) .
Performance Compensation
- The proxy provides no disclosure of individual bonus targets, actual payouts, RSUs/PSUs, options, or performance metrics (e.g., TSR, revenue/EBITDA goals) for Fund officers. Fund-level compensation tables cover Trustees only; officers receive no Fund-paid compensation .
Equity Ownership & Alignment
- Officer-level beneficial ownership for Andolina is not itemized; the proxy reports aggregate holdings for “Trustees and officers” of each Fund. As of April 1, 2025, Trustees and officers of THW, in aggregate, owned less than 1% of THW’s outstanding equity securities .
- THW shares outstanding at record date (April 7, 2025): 39,849,957.6 .
- The proxy does not disclose any hedging or pledging policy or activity related to officers; pledging/hedging red flags are not reported for Andolina .
Employment Terms
- Office held: Chief Compliance Officer; Vice President, Compliance of the Funds; in role since 2023 .
- Officer appointments: Officers are appointed annually by the Fund Boards and serve until a successor is duly elected and qualified .
- Board oversight and interface: The Boards and their Audit Committees oversee financial reporting and compliance; the Board structure includes quarterly meetings, executive sessions of Independent Trustees, and committee oversight of compliance and risk processes .
Investment Implications
- Pay-for-performance signal limited: Fund officers (including CCO) are paid by the adviser (abrdn Inc.), not by the Funds; the proxy does not provide variable pay metrics or equity incentives at the Fund level—reducing visibility into compensation alignment or discretionary bonus risk for Andolina .
- Insider selling pressure appears minimal: Officers and Trustees collectively own <1% of THW, suggesting low direct alignment via Fund equity and limited potential for officer-driven selling pressure; individual officer holdings are not disclosed .
- Retention/contract risk opaque: No employment contract, severance, or change-of-control economics are disclosed for Fund officers; standard officer appointment/annual re-appointment applies .
- Governance and compliance oversight robust: Regular Board, Audit Committee, and governance processes emphasize compliance reporting and risk oversight; as CCO, Andolina is positioned within established structures that monitor controls rather than commercial performance, which is consistent with closed-end fund governance norms .