Biography Sound Structures, Clear Oversight.

Ms. Stephen served as Executive Vice President, Investments for The Cadillac Fairview Corporation Limited ("Cadillac Fairview"), one of North America's largest real estate companies, from October 2002 to December 2011 and as Senior Vice President, Investments for Cadillac Fairview from May 2000 to October 2002, where she was responsible for developing and executing Cadillac Fairview’s investment strategy. Prior to joining Cadillac Fairview, Ms. Stephen held the position of Director, Real Estate with the Ontario Teachers' Pension Plan Board, the largest single-profession pension plan in Canada, from December 1999 to May 2000, as well as various portfolio manager positions from September 1995 to December 1999.

Ms. Stephen is a member of the board of directors of First Capital Real Estate Investment Trust (formerly, First Capital Realty Inc.), Canada's leading owner, developer and manager of mixed-use real estate, serving as chair of the compensation committee and a member of the governance and executive committees. Ms. Stephen serves as chair of the board of trustees of Slate Retail Real Estate Investment Trust and serves on its audit, compensation and investment committees. Ms. Stephen also serves on the board of directors of Enwave Energy Corporation, a dominant energy solutions provider, serving as chair of the human resources and compensation committee.