Andrew Tarica
About Andrew Tarica
Independent Chair of the Board of TSI (TCW Strategic Income Fund, Inc.), born 1959; director since 2012 with current term through 2026. Retired in December 2024 after serving as CEO of Meadowbrook Capital Management (2001–2024); prior senior fixed‑income trading and leadership roles at Donaldson, Lufkin & Jenrette (global head of high‑grade corporate bonds, 1992–1999), Kidder Peabody (investment‑grade sales and trading, 1990–1992), and Drexel Burnham (investment‑grade trading, beginning 1983). He oversees 33 portfolios across the TCW fund complex and serves on multiple affiliated fund boards (Metropolitan West Funds, ETF Trust, TCW Funds, Inc., TCW Private Asset Income Fund, and several TCW Direct Lending entities) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Meadowbrook Capital Management | Chief Executive Officer | 2001–Dec 2024 | Fixed‑income credit asset management leadership |
| Sanders Morris Harris → Concept Capital Markets | Managed fixed‑income portfolio (employee) | 2003–2010 | Broker‑dealer platform; later became Concept Capital Markets |
| Cowen & Co (via Concept acquisition) | Employee | Sep 2015–Jan 2022 | Prime services/fixed‑income; tenure ended Jan 2022 |
| Donaldson, Lufkin & Jenrette | Global Head, High‑Grade Corporate Bond Dept | 1992–1999 | Led corporate bond business |
| Kidder Peabody | Ran Investment‑Grade Sales & Trading | 1990–1992 | Trading/sales leadership |
| Drexel Burnham | Investment‑Grade Trading (later head of trading) | Since 1983 (end not disclosed) | Trading leadership trajectory |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| TCW Metropolitan West Funds | Trustee/Director | Current | Not disclosed |
| TCW ETF Trust | Trustee/Director | Current | Not disclosed |
| TCW Funds, Inc. | Director | Current | Not disclosed |
| TCW Private Asset Income Fund | Director | Current | Not disclosed |
| TCW Direct Lending VII, LLC | Board member | Current | Not disclosed |
| TCW Direct Lending VIII, LLC | Board member | Current | Not disclosed |
| TCW Star Direct Lending, LLC | Board member | Current | Not disclosed |
| TCW Spirit Direct Lending, LLC | Board member | Current | Not disclosed |
Board Governance
- Independent Chair of the Board; term through 2026; director since 2012 .
- Committee memberships: Audit Committee and Nominating & Governance Committee (both committees are entirely independent) .
- Committee chairs: Audit Committee chaired by Victoria B. Rogers through Dec 9, 2024, then by Robert G. Rooney effective Dec 9, 2024; Nominating & Governance Committee chaired by Peter McMillan .
- Meeting cadence and attendance: Board met five times in FY 2024; Audit Committee met four times; Nominating & Governance met two times; each incumbent nominee attended at least 75% of Board and relevant committee meetings .
- Independence and structure: Board has seven Independent Directors and uses an independent Chairman model; Chairman sets agendas, presides at meetings, and liaises with management .
- Oversight framework: Advisor designated as valuation designee subject to Board oversight; Audit Committee monitors financial reporting, internal controls, and auditor independence .
Fixed Compensation
| Component | Amount | Effective Period | Notes |
|---|---|---|---|
| Annual Independent Director fee | $12,500 | Effective Mar 1, 2024 | Reduced from $17,000 (Jan 1, 2022–Feb 29, 2024) |
| Joint meeting fee (in‑person) | $500 per meeting | Effective Mar 1, 2024 | Applies to Board or Committee meetings attended |
| Telephonic meeting fee | $250 per meeting | Effective Mar 1, 2024 | Applies to telephonic attendance |
| Supplemental retainer – Board Chair | $4,500 annually | Effective Mar 1, 2024 | Tarica is Independent Chair |
| Supplemental retainer – Board Vice Chair | $3,000 annually | Effective Mar 1, 2024 | Not applicable to Tarica |
| Supplemental retainer – Audit Chair | $750 annually | Effective Mar 1, 2024 | Audit Chair role changed to Rooney Dec 2024 |
| Supplemental retainer – Nom/Gov Chair | $750 annually | Effective Mar 1, 2024 | Chair is McMillan |
| Aggregate compensation from Company (FY 2024) | $19,750 | FY ended Dec 31, 2024 | Includes $19,750 of deferred compensation |
| Total compensation from Fund Complex (CY 2024) | $462,750 | Calendar year 2024 | Includes $407,250 of deferred compensation |
Directors are reimbursed for travel and out‑of‑pocket expenses; Advisor‑affiliated directors/officers receive no compensation/expense reimbursement from the Company .
Performance Compensation
| Item | Disclosure | Notes |
|---|---|---|
| Equity awards (RSUs/PSUs) | Not described in proxy | Compensation framework details cash retainers/fees and deferral only |
| Option awards | Not described in proxy | No option program disclosure for directors |
| Performance metrics tied to pay | Not described in proxy | No TSR/EBITDA/revenue metrics disclosed for directors |
| Deferred Compensation Plan terms | Unfunded; directors may defer; returns credited as if invested in selected TCW funds; lump‑sum distribution equal to account value; general obligation of Company | Plan adopted July 1, 2013; available to Independent Directors |
Other Directorships & Interlocks
| Entity | Type | Role/Interlock | Notes |
|---|---|---|---|
| TCW Metropolitan West Funds | Mutual fund complex | Director/Trustee | Shared governance across TCW fund complex |
| TCW ETF Trust | ETF trust | Director/Trustee | Shared governance across TCW fund complex |
| TCW Funds, Inc. | Mutual fund complex | Director | Shared governance across TCW fund complex |
| TCW Private Asset Income Fund | Closed‑end fund | Director | Shared governance across TCW fund complex |
| TCW Direct Lending VII, VIII, Star, Spirit | Private/BDC/CE fund entities | Board member | Direct lending entities affiliated with TCW |
- None of the Independent Director nominees or their immediate families beneficially owned securities in the Advisor or its controlled affiliates as of June 30, 2025, supporting independence from the Advisor .
Expertise & Qualifications
- Decades of fixed‑income trading and portfolio leadership across leading sell‑side and asset management firms (DLJ, Kidder Peabody, Cowen) .
- Multi‑fund governance experience overseeing 33 portfolios, with service on audit and nominating/governance committees at TSI .
- Independent Chair model enhances oversight and information flow to the Board .
Equity Ownership
| Metric | Value | As‑of Date |
|---|---|---|
| Beneficially owned shares (TSI) | 23,283 | July 31, 2025 |
| Ownership % of outstanding | Less than 1% | July 31, 2025 |
| Dollar range of equity securities in the Company | Over $100,000 | July 31, 2025 |
| Aggregate dollar range in Family of Investment Companies | Over $100,000 | July 31, 2025 |
Governance Assessment
- Positive signals: Independent Chair with long tenure; all‑independent membership on Audit and Nom/Gov committees; ≥75% attendance in FY 2024; robust committee activity (Audit: 4 meetings; Nom/Gov: 2 meetings) .
- Independence safeguards: No beneficial ownership by independent nominees or immediate families in the Advisor or its controlled affiliates as of June 30, 2025; Audit Committee affirms compliance with NYSE closed‑end fund audit committee requirements .
- Alignment: Tarica’s disclosed TSI share ownership (23,283; dollar range over $100,000) provides some “skin‑in‑the‑game” alignment with fund shareholders .
- Compensation considerations: Director pay is cash‑based with deferral elections; the reduction in base fees effective Mar 1, 2024 suggests cost discipline; significant total compensation across the TCW fund complex reflects extensive cross‑complex board service commitments .
- Oversight framework: Advisor designated as valuation designee subject to Board oversight; Audit Committee reviews auditor independence and financial reporting, which is important for investor confidence in a closed‑end fund structure .
No related‑party transactions specific to Mr. Tarica are disclosed in the reviewed proxy; director stock ownership guidelines are not discussed in the cited sections. All statements are based on the Company’s DEF 14A filings .