Stephen Newton is Managing Director of DLO Associates

Stephen is a former Army officer and an Oxford graduate with an MA degree in English from Magdalen College. He left the Army in 1981 to begin a career in the City. 

He was Sales Director for Mercury Fund Managers Ltd., (“MFM”), the mutual funds business of Mercury Asset Management (“MAM”) (acquired by Merrill Lynch and then by Black Rock, the US-based asset manager). 

During his time as Sales Director for MFM, Stephen was also the Compliance Officer for the business and worked with the then newly formed Regulators to formulate a practical code of practice for the industry.   

Stephen moved within MAM in 1991 to become Operations Director and led the reshaping of both front and back office.  This included the establishment of client-focused investment teams, each with its own middle office support and setting up the Custody and Administration arm of MAM as a stand-alone business, leading to its eventual disposal. 

He moved to undertake a similar role with Schroder Investment Managers, where he spent some five years. 

In 2001, Stephen established DLO Associates Ltd. “DLO” stands for Development in Leadership and Operations.