Stephen McLennan is the Chief Investment Officer, Asset Allocation. In this role, he oversees Ontario Teachers’ overall asset mix to drive total fund performance and manage portfolio risks. He is also responsible for delivering the core elements of the investment plan through liquidity management, investment allocation and portfolio optimization. Since joining Ontario Teachers’ in 2003, he has held positions of increasing responsibility. Prior to his current roles, he was responsible for managing Ontario Teachers' allocation to Natural Resources. He has held positions in both capital market and private asset related groups. Before joining Ontario Teachers', Stephen spent over three years with Merrill Lynch's investment banking team in Calgary and prior to that, two years with the Canadian operations of Archer Daniels Midland. Stephen holds a Master of Mathematical Finance from the University of Toronto, an MBA from the University of British Columbia and a Bachelor of Commerce from McGill University. He is also a CFA charterholder and has ICD.D certification from the Institute of Corporate Directors.