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Tuesday, May 31, 2016|
After 40 Years, a Nuveen Veteran Retires
The PM supports more than $11 billion in AUM across 16 portfolios, including two open-end mutual funds.
John Miller, co-head of fixed income for the TIAA subsidiary, confirms that senior vice president Tom Spalding is leaving the firm. Among other responsibilities, Spalding PMed the $181.1-million, four-star Nuveen Maryland Municipal Bond Fund and the $418.8-million, three-star Nuveen Virginia Municipal Bond Fund.
"It is with deep gratitude that we share the news of Tom's retirement," Miller states. "For all of us who have worked with and have been mentored by Tom, he has shown himself to be the epitome of quiet humility, steady calm, and a thoughtful steward, always putting clients' needs before his own. He has left an indelible mark on our team. His colleagues, who bring with them deep expertise in municipal bond analysis and portfolio management, stand ready to ensure a smooth transition in the management of his funds which continue to provide meaningful tax-free income to our clients."
Stephen Candido, vice president and senior analyst, will take over as PM of the Maryland and Virginia muni bond funds.
An alumnus of the University of Michigan, Spalding first joined Nuveen as an assistant PM in 1976, one year after entering the industry. He managed the Nuveen Advisory Corp subsidiary from 1978 through 1997.
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