Board of Directors

  • Board template_0005_Stephen

    Stephen Smith

    Non-Executive Chairman

    Stephen Smith has over 40 years of experience in the real estate industry. Stephen acted as Chief Investment Officer of British Land Company PLC, the FTSE 100 real estate investment trust, from January 2010 to March 2013 with responsibility for the group’s property and investment strategy. Prior to joining British Land, Stephen was Global Head of Asset Management and Transactions at AXA Real Estate Investment Managers, where he was responsible for the asset management of a portfolio of more than €40 billion on behalf of life funds, listed property vehicles, unit linked and closed end funds. Before joining AXA in 1999 he was Managing Director at Sun Life Properties for five years.

    Stephen is also Non-Executive Chairman of Sancus Lending, an AIM listed property finance business. He was formerly Non-Executive Chairman of Starwood European Real Estate Finance Limited and Alternative Income REIT plc and a Non-Executive Director of Tritax Big Box REIT plc and Gatehouse Bank plc.

  • Board template_0007_Rod

    Roderick MacRae

    Non-Executive Director

    Rod has over 20 years’ experience in the financial services sector. Latterly, he was an Executive Director at Abrdn plc (previously Aberdeen Asset Management PLC) as the Group Head of Risk with responsibility for UK and Global operational risk and regulatory compliance. He was also chairman of the Abrdn group executive risk management committee, the senior risk oversight function of the group. He has extensive involvement in corporate activity including transformational acquisitions and defence strategies. Prior to that, Rod was Chief Operating Officer at Edinburgh Fund Managers, which he joined in 1991 and was acquired by Abrdn in 2003. Rod is a member of the Institute of Chartered Accountants of Scotland, having qualified with Coopers & Lybrand and is the Chairman of the REIT Audit Committee.

  • Geeta Nanda

    Geeta Nanda, OBE


    Geeta has over 30 years' experience working in the property sector. She is Chief Executive Officer of Metropolitan Thames Valley Housing Association ("MTVH"), having previously led its creation in 2017 with the merger of Metropolitan Housing Trust and Thames Valley Housing Association Ltd, where she was Chief Executive Officer for over 9 years. At MTVH, Geeta is responsible for the management of 60,000 homes, with 120,000 residents, and an ongoing new-build programme of over 1,000 homes a year. She also has significant experience of PRS, having established 'Fizzy Living', the London PRS subsidiary of Thames Valley Housing Association Ltd in 2012.

    Geeta is a member of the Homes for Londoners mayoral Board, and a Board member of The National Housing Federation, the industry body representing providers of housing. She is also Chair of G15, the group of London's largest housing associations. She was previously a Non-executive Director of McCarthy & Stone plc, the retirement communities’ developer and manager, from 2015 until its acquisition in early 2021, a Non-executive Director of The St Mungo Community Housing Association, a charity that helps the homeless, and Vice Chair of SCOPE, the national disability charity.

  • Board template_0006_Steffan

    Steffan Francis

    Non-Executive Director

    Steffan Francis has more than 40 years of experience in the real estate industry. Until his retirement, Steffan was a Director at M&G Real Estate where he was responsible for the £6 billion “Long Income” business. Previously he had been responsible for the institutional funds at M&G Real Estate and at Prudential Property Investment Managers. He was also an independent adviser to the British Steel Pension Trustees. Currently, Steffan is a non-executive Director of M&G (Guernsey) Limited. He is a Fellow of the Royal Institution of Chartered Surveyors and a member of the Investment Property Forum.

  • Karima Fahmy

    Non-Executive Director

    Karima is a corporate lawyer with extensive experience of the UK property market. This encompasses investment, development and management of all property tenures, including residential. During her executive career, she worked at Grosvenor Group (“Grosvenor”), the international property group, latterly as General Counsel until 2020. She was a member of Grosvenor’s UK Executive Committee and involved in all aspects of Grosvenor’s property business, advising on a range of ventures, including new community schemes and placemaking projects. Prior to Grosvenor, Karima worked at Hogan Lovells, the global law firm, advising both listed and unlisted companies.

    Karima holds two other non-executive directorships in the property sector. She is Non-Executive Director of Latimer Developments Limited, the development arm of the Clarion Housing Group, the UK’s largest housing association, and a Trustee of Clarion Futures, Clarion Housing Group’s charitable foundation. She is also Non-Executive Director of BCP FuturePlaces Limited, the urban regeneration company created by Bournemouth, Christchurch and Poole (BCP) Council. In addition, Karima is an Independent Board Member of University of Cambridge Property Board and Non-Executive Director of Bournemouth University. She is a trustee of United Learning Trust, a schools group, and trustee of Great Ormond Street Hospital’s Children's Charity, where she is also a Member of its Property & Development Committee.