Patrick Haden
About Patrick C. Haden
Independent Vice Chair of the Board at TCW Strategic Income Fund, Inc. (TSI); served on the Board since 2001 and was Independent Chairman in 2023 before becoming Vice Chair for 2024–2026. Year of birth: 1953. President of Wilson Ave. Consulting since 2003; Rhodes Scholar; prior roles include Senior Advisor to the President of the University of Southern California (July 2016–June 2017), former USC Athletic Director, and former USC trustee (prior to August 2010). Oversees 32–33 portfolios across the TCW fund complex as a director.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| University of Southern California | Senior Advisor to the President | Jul 2016 – Jun 2017 | Senior advisory role |
| University of Southern California | Athletic Director | Not disclosed (previously) | Athletics leadership |
| University of Southern California | Member, Board of Trustees | Prior to Aug 2010 | University governance |
| Wilson Ave. Consulting | President | 2003 – present | Business consulting leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Auto Club (affiliate of AAA) | Director | Current (per 2024–2025 proxies) | Independent director position |
| TCW Metropolitan West Funds | Director | Current | Part of TCW fund complex |
| TCW Funds, Inc. | Director | Current | Part of TCW fund complex |
| TCW ETF Trust | Director | Current | Part of TCW fund complex |
| TCW Private Asset Income Fund | Director | Current (added in 2025 proxy) | Part of TCW fund complex |
Board Governance
- Current board role: Independent Vice Chair (term through 2026); previously Independent Chair (2023).
- Committee memberships: Audit Committee member (Audit Committee met 4 times in 2024) and Nominating & Governance Committee member (met 2 times in 2024). Both committees comprise only Independent Directors.
- Historical committee service: Audit and Nominating & Governance (2023); also served on the Executive Committee in 2023 alongside one Interested Director and one Independent Director.
- Attendance and engagement: Board met five times in FY 2023 and five times in FY 2024; each incumbent nominee attended at least 75% of Board and committee meetings during the last fiscal year.
- Shareholder meeting presence: 5 directors attended the 2023 annual meeting; 3 directors attended the 2024 annual meeting.
- Independence: Classified as an Independent Director under the 1940 Act; independent status reaffirmed in director rosters.
Fixed Compensation
- Director fee framework:
- 1/1/2022–2/29/2024: $17,000 annual fee; $1,000 per joint meeting attended; $250 per telephonic meeting; supplemental annual retainers—Board Chair $6,600, Audit Chair $4,400, Nominating Chair $2,200.
- Effective 3/1/2024: $12,500 annual fee; $500 per joint meeting; $250 per telephonic meeting; supplemental annual retainers—Board Chair $4,500, Board Vice Chair $3,000, Audit Chair $750, Nominating Chair $750.
- Deferred Compensation Plan (since 7/1/2013): Independent Directors may defer fees into notional investments tracking TCW-advised funds; plan is unfunded and a general obligation of the Company.
Recent disclosed compensation for Patrick C. Haden:
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Aggregate Compensation from TSI (Company) | $28,600 | $28,600 | $18,000 |
| Pension/Retirement Benefits Accrued as Part of Fund Expenses | $0 | $0 | $0 |
| Estimated Annual Benefits Upon Retirement | $0 | $0 | $0 |
| Total Compensation from TCW Fund Complex | $423,600 | $423,600 | $427,250 |
Performance Compensation
| Element | Disclosure |
|---|---|
| Cash bonus/Target bonus | Not disclosed for directors; proxies describe cash retainers and meeting fees for Independent Directors. |
| Stock awards (RSUs/PSUs) | None disclosed for directors. |
| Option awards | None disclosed for directors. |
| Performance metrics tied to pay (revenue, EBITDA, TSR, ESG) | None disclosed for directors. |
| Clawbacks/Change-in-control/Severance | Not applicable to non-employee directors in the proxy; not disclosed. |
Other Directorships & Interlocks
- Haden concurrently serves on multiple boards within the TCW fund complex (TCW Metropolitan West Funds, TCW Funds, Inc., TCW ETF Trust, and TCW Private Asset Income Fund) and Auto Club (AAA). This creates interlocks within the fund family but is common in investment company complexes; all such posts are disclosed while maintaining “Independent Director” status for TSI.
Expertise & Qualifications
- Rhodes Scholar; long-tenured independent fund director with experience in governance and oversight across a large multi-fund complex (32–33 portfolios overseen).
- Executive leadership and organizational governance background (President, Wilson Ave. Consulting; prior senior roles at USC).
Equity Ownership
| Metric | 7/31/2023 | 7/31/2024 | 7/31/2025 |
|---|---|---|---|
| Shares Beneficially Owned (TSI) | 21,001 | 21,001 | 61,007 |
| Percent of Shares Outstanding | <1% (per proxy star notation) | <1% (per proxy star notation) | <1% (per proxy star notation) |
| Dollar Range of TSI Holdings | Over $100,000 | Over $100,000 | Over $100,000 |
| Ownership of Advisor/Affiliates’ Securities (Independent Directors) | None (as of 6/30/2023) | None (as of 6/30/2024) | None (as of 6/30/2025) |
Notable change: Haden’s TSI share ownership increased from 21,001 (2023–2024) to 61,007 shares by 7/31/2025, while remaining <1% of outstanding shares.
Governance Assessment
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Strengths
- Long-tenured independent leadership (Independent Chair in 2023; Vice Chair 2024–2026) with consistent committee service on Audit and Nominating & Governance, aligning with best-practice oversight for closed-end funds.
- Clear independence markers: no beneficial ownership of advisor or affiliate securities by Independent Directors; cash-only fee structure limits pay complexity.
- Ownership alignment improved with a substantial increase to 61,007 shares by 2025 and “Over $100,000” dollar range classification.
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Watch items
- Multiple simultaneous directorships across the TCW fund complex create intra-family interlocks; common in fund governance but warrants ongoing monitoring for time commitment and potential soft conflicts (mitigated by 1940 Act independence).
- Attendance disclosures meet the 75% threshold; lack of individualized attendance detail limits investor scrutiny.
- Shareholder meeting attendance was limited (3 directors present at the 2024 annual meeting), a modest engagement signal to monitor.
-
Compensation structure signals
- Shift to lower retainers and meeting fees from March 1, 2024 reduces cash compensation per director and introduced a Vice Chair retainer—no equity grants or performance metrics are used, which is typical for investment company boards.
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Related-party/Conflicts
- No related-party securities ownership by Independent Directors at the advisor/affiliates reported; no related-party transactions disclosed regarding Haden.