The Team

David is a Director at Arlingclose and has been part of the team since 2010. A qualified member of the Association of Corporate Treasurers, David brings over 25 years of experience in treasury management advisory services, with a particular focus on the public sector. 

He leads Arlingclose’s debt management team, working closely with local authority clients on a wide range of services including credit rating advisory, private placements, bond buybacks, structured loan refinancing, and support with the Public Works Loan Board facility. David also provides strategic input on index-linked debt and alternative funding options. 

David is actively involved in market developments and policy engagement, maintaining regular contact with HM Treasury, the UK Debt Management Office, investors, and banking partners. He is also a frequent speaker at industry conferences and events. 

His current work includes overseeing iDealTrade.net, Arlingclose’s automated money market matching platform, and advising on PFI refinancing and treasury aspects of local government reorganisation. 

David began his career at Harlow Butler on the local authority advisory desk and later became Assistant Director at Butlers (ICAP plc). He holds a degree in Business Administration and Enterprise from the University of Central England. 

Outside of work, David embraces life’s ups and downs, whether it’s skiing black runs, teeing off into the rough, or watching the mighty Watford FC. When not in the office, he’s often found wild camping or off on increasingly adventurous family holidays now that the kids are old enough to keep up! 

Ivan joined Arlingclose in July 2024 as an Apprentice Client Executive. Within the Funds team, his role involves supporting clients by preparing debt portfolios and credit profiles derived from fund investment portfolios, contributing to the planning and delivery of company-client strategy meetings. In addition, Ivan assists with client communication and regularly produces credit and economic updates for client distribution. 

Before joining Arlingclose, Ivan gained early experience as an Assistant Accountant at PS Lau & Co during work placements in 2015 and 2016. He went on to study Mechanical Engineering at the University of Warwick, before transitioning back into finance in 2024. 

Ivan is currently studying towards the CIPFA Professional Accountancy Qualification, having successfully completed his first two modules in Financial and Management Accounting. 

Outside of work, Ivan is a keen badminton player, regularly competing in London leagues and Badminton England tournaments, as well as representing his county. He is also an avid foodie and occasionally brings in his homemade dishes for lunch. 

Sara joined Arlingclose in October 2021 and is a Senior Client Executive, with responsibilities spanning investment strategy, credit research, pooled fund analysis, and client relationship management. Sara plays a central role in the firm’s Credit Team, including covered and supranational bonds. As a member of the Funds Team, she regularly presents detailed portfolio analyses and investment strategies, supporting clients in making informed, strategic decisions.  

Sara also produces quarterly ESG reports on banks and asset managers, helping align client investments with global sustainability and responsible investment standards. 

Sara contributes significantly to the delivery of client workshops, webinars, and market update briefings. She supports RFQ and tender processes, aiding in client acquisition and retention. She also prepares detailed reports, benchmarks credit scores, and authors insightful commentary to enhance client understanding and engagement. 

Sara holds a BSc (Hons) in Economics from the University of Sussex and the CISI Level 3 Certificate in Securities, which provides a strong foundation in financial markets, instruments, and regulatory environments. The qualification supports her advisory work by reinforcing technical understanding of fixed income products, equities, and collective investment schemes, all within the context of UK and global markets.  

She is currently undertaking the ICAEW Public Sector Sustainability Certificate, developed in collaboration with the Government Finance Function (GFF) and CIPFA. The programme equips finance professionals with the skills and knowledge to integrate sustainability into public sector financial management, aligning policy, investment, and reporting practices with climate-related and environmental objectives. This reflects Sara’s commitment to supporting clients in embedding ESG principles and delivering long-term value to both taxpayers and the environment. 

Outside of work, Sara maintains an active lifestyle through regular fitness activities and also enjoys exploring new restaurants and food spots. Sara also has a keen interest in current affairs and enjoys keeping up to date through podcasts and economic commentary. 

Laura is a CIPFA qualified accountant with over 15 years experience, she is part of the Technical and Consultancy Teams at Arlingclose. Her particular areas of expertise include capital accounting, long term cash flow planning, regulatory compliance and accounting for financial instruments. Recent work Laura has undertaken has included equity valuations, impairment calculations and reviews of minimum revenue provision.  

Laura manages many long term advisory relationships alongside the completion of a wide range of shorter term projects. She is adept at assisting clients in optimising debt portfolios and formulating suitable investment strategies for both long and short term cashflow needs. Laura frequently presents workshops and webcasts and writes technical updates on a variety of topics. Her role includes the ability to clearly communicate and explain complex subjects. As Arlingclose’s Compliance Officer Laura is also responsible for making sure that the firm meets all of its regulatory requirements.   

Laura began her career at the Metropolitan Police Service where she worked in a variety of finance roles including project teams, management accounting and closure of year end accounts. Laura graduated from Imperial College London with a BSc (Hons) in Physics. 

Laura is a keen cyclist who likes braving the rush hour traffic on her commute to the office. She enjoys baking with her two school age children and has been known to knit the occasional jumper for her nearest and dearest. 

David is a Fellow of the Association of Corporate Treasurers and a Chartered Public Finance Accountant.  He is the group finance director, responsible for maintaining relationships with banks and lenders. 

David leads the Arlingclose team formulating client investment strategies that range from minimising credit risk on short-term balances to earning a suitably risk-adjusted return on longer-term investments. He is also a key member of the Arlingclose technical team providing accounting and capital finance advice to clients, particularly on IFRS 9 and IFRS 16, and is in regular contact with the UK Government and professional accountancy bodies on matters of concern to clients. 

David studied chemistry at Imperial College London, the University of Kent at Canterbury and the University of Reading where he became a Chartered Chemist before moving into finance. His career highlights include stints as treasury manager at Butlins Holidays, principal accountant at West Sussex County Council and head of consultancy at Sterling International Brokers before moving to Arlingclose as client director in 2012. 

In his spare time, David enjoys long walks along East Anglia’s beautiful coastline with his Cavalier King Charles Spaniel. Keeping the dog out of his newly built wildlife pond also keeps him surprisingly busy! 

Having joined in September 2004, Mark is a founding Director of Arlingclose’s Treasury Advisory Services.

He began his financial career on the Sterling Inter-bank desk at money broker Tullett & Tokyo, gaining broad experience in UK fixed income products, swaps and other derivatives. In 1997, Mark joined Integer Treasury Services, where he progressed to become a senior member of what became the Sector Treasury Services Team as Assistant Director.

He has over 25 years treasury advisory experience including financial modelling, developing debt and risk management strategies, and creating bespoke investment portfolios reflecting client’s risk appetite and preferences, ensuring clients’ compliance with CIPFA’s Prudential and Treasury Codes.

He is a principal member of the Arlingclose interest rate forecasting team.

Malika joined Arlingclose in 2024 as an Apprentice Client Executive after completing her A-levels in History, Economics, and Maths, alongside the LIBF Certificate in Financial Studies (CeFS).  

Malika’s role includes supporting clients by preparing credit profiles for investment and debt portfolios, maintaining counterparty lists, and assisting with client communication and helping onboard new clients. She is also part of the Credit Team, supporting and publishing credit updates and developments. Her role also includes organising client workshops, preparing materials for client meetings, and distributing regular economic updates and daily rates. 

Alongside her role, Malika is studying part-time with CIPFA for the Level 7 Professional Accountancy Qualification, further developing her expertise in public finance and accountancy. 

Outside of work, Malika is a dedicated Arsenal Women’s FC fan and enjoys attending matches. She also has a passion for baking and loves trying out new recipes, and is a music fan who enjoys going to concerts and festivals. 

Amar joined the Arlingclose team in February 2014 as Client Executive.

Her primary role consists of managing client relationships through attending strategy meetings and maintaining regular contact with officers to assist with day to day treasury decisions. Amar also delivers a number of different client workshops and training events to both officers and members.

As a member of both the Credit Team and the Funds Team, she is also responsible for reviewing the credit quality of individual counterparties and pooled funds on an ongoing basis and approving these for recommendation to clients. As well as continued monitoring, Amar also meets with these institutions regularly in order to maintain the relationship.

Amar is a key member of the client advisory team and has assisted on and delivered a number of bespoke services such as investment appraisal reports and sourcing alternative funding products from financial institutions.

She is also responsible for the management of tenders for both existing and potential client contracts.

Amar graduated from the University of Portsmouth with a BSc (Hons) in Mathematics for Finance and Management. Amar also holds a Level 3 CISI Certificate in Securities.

Stuart Jones is a Client Director at Arlingclose, specialising in debt advisory, financial modelling, and investment strategy. He has extensive experience in optimising investment portfolios, structuring tailored debt solutions, and providing strategic guidance on borrowing timing, structure and sourcing. 

A lead financial modeller, Stuart developed Arlingclose’s fund correlation model, supporting clients in making informed asset allocation decisions. He is also a key contributor to credit analysis, assessing unrated companies and Special Purpose Vehicles (SPVs) for investment and valuation. As a member of the Interest Rate Forecasting team, he provides economic insights and regularly authors market updates. His expertise in debt structuring, investment management, and economic forecasting helps clients across the public and private sectors navigate complex financial landscapes with confidence. 

Stuart holds an MSc in Financial Management and a BSc in Economics from Swansea University. He is currently undertaking the CIPFA Professional Accountancy Qualification (PAQ), having completed six of the twelve exams. Additionally, he has completed the CTFE Generative AI in Corporate Treasury Certificate, reflecting his interest in the evolving role of AI in financial decision-making. 

Before joining Arlingclose, Stuart worked in the accounts department at Charge Automotive. Outside of work, Stuart is a keen traveller and enjoys exploring new cultures and landscapes, having visited over 30 countries across Europe, Asia, and the Americas. He also has a strong interest in history, often combining this passion with his travels. When at home, he enjoys running, hiking, and keeping up with developments in crypto, politics and macroeconomics.  

Phiroza joined Arlingclose in April 2005 as Client Director. She has been providing treasury advice and support to local government officers and Members since 1992.   

Phiroza oversees a number of long-standing client relationships, providing advice and support to officers and members on treasury strategy, implementation and risk management. She advises on bespoke debt and investment opportunities, credit policies, and compliance with Prudential and Treasury Management Codes and Investment Guidance.   

She is a member of the Arlingclose interest rate forecasting team and also of the investment group analysing and assessing pooled investment schemes. Phiroza delivers Arlingclose’s client (officer and member) workshops and also maintains contact with MHCLG, CIPFA and investment fund managers. 

Phiroza passed the CIPFA/ACT Certificate in International Treasury Management – Public Finance in April 2010.   

Phiroza joined Integer Treasury Services as Treasury Advisor in 1992. Following Integer’s absorption into Sector Treasury Services in 1997, she also had a key role in formulating local authority credit and counterparty policies and investment strategies. She provided the ODPM with valuable input on their draft and final Guidance on Investments during the development of the Prudential Framework and played a key role thereafter in assisting local authorities in establishing individual investment strategies. As Assistant Director at Sector she was responsible for managing client relationships, as well as advising on debt, investment and credit strategies. Phiroza graduated with a Bachelor of Commerce degree from the University of Bombay reading Accountancy and Economics. 

An ACCA-qualified accountant and an Associate of the CISI, Nick has over 20 years’ experience working in and consulting on treasury management. His areas of expertise include advising on strategy/policy formulation, treasury risk management, the financial market, economic analysis, investment & debt transactions and management.  

While managing the relationships of a number of long-standing clients, Nick is responsible for Arlingclose’s charity, financial institution and corporate clients. He has expertise in facilitating structured debt transactions, arranging and renegotiating over £1.5bn of commercial debt. This includes arranging over £450m of group loan facilities to housing associations. He also leads Arlingclose’s economic and interest rate forecasting team, and is a member of the credit risk and the debt teams. 

Nick began his career at both Gloucestershire and Lancashire County Council, before moving to Sterling Consultancy Services in 2006. He studied economics and financial markets at Durham University. 

Nick is a lifelong Blackburn Rovers supporter and a keen Formula 1 fan. Outside of work, he enjoys spending time with his family, supporting their various sporting and musical interests. When he's not crunching numbers, Nick can often be found immersed in a sci-fi novel or gaming online. 

Stephen joined Arlingclose in June 2010 as Leasing Director to provide independent leasing advice to clients.

He has 38 years’ experience in all aspects of leasing, vendor finance, asset and capital financing.

Stephen leads the Arlingclose Leasing Advisory service by undertaking strategic options appraisal to determine the most cost-effective means of financing capital assets and initially assess whether leasing or other asset funding options are financially viable. Stephen provides comprehensive support for any leasing tender process which includes review and revision of asset finance and leasing contract documentation. Importantly, he also provides clients with advice and assistance to achieve revenue savings through effective end of lease negotiations with banks and lessors. 

Stephen has held senior positions in various global banking and financial institutions including Lombard Nat West, HSBC, GE Capital, Rabobank and CIT. He has worked as a specialist public sector leasing /asset finance advisor and consultant with Capita Asset Services and he has also worked with Dell EMEA advising and developing their European public sector financing of tech assets.

Stephen has the Finance and Leasing Association Diploma qualification; a BA in Business and holds a Master’s Degree in Business Administration (MBA) from Manchester Business School (The University of Manchester).

Stephen is Consultancy Director at Arlingclose and has over a decade of experience across all aspects of treasury management. Since joining the company in 2014 as Assistant Client Director, he has built a broad advisory practice, supporting public sector clients with strategic and technical guidance on debt and investment management, policy development, and regulatory compliance. 

He works closely with finance officers and elected members, advising on treasury strategy, Minimum Revenue Provision (MRP) policy, and compliance with the CIPFA Prudential and Treasury Management Codes, as well as the accounting Code of Practice. 

Stephen plays a key role across several areas of Arlingclose’s work. He leads on the arrangement of funding for Registered Providers as part of the Housing Team and contributes to the company’s investment and accounting advice through his involvement in the Credit and Technical teams. He also developed and now leads Arlingclose’s advisory offer on transactional banking. 

Recent projects have included supporting private sector organisations in developing partnerships with the public sector to deliver housing. This work focuses on creating structures that are commercially viable while aligning with local authority objectives and constraints — helping both sides achieve practical, mutually beneficial outcomes. 

Before joining Arlingclose, Stephen spent five years at the London Borough of Hackney, gaining in-depth experience in treasury, banking, pensions, and financial accounting. He began his career in sales and public relations. 

Stephen is currently the Independent Audit Chair of the Royal Statistical Society. He holds a BA (Hons) in Classical Archaeology and Ancient History from Balliol College, Oxford. 

Outside of work, he enjoys being outdoors — ideally somewhere high up in the Lake District or North Wales. 

Perry joined Arlingclose in 2018 and is a key member of the consultancy team, advising a wide range of clients on treasury strategy, investment options, and financial due diligence. His expertise spans local government capital finance, UK subsidy control (state aid) compliance, and interest rate strategy, with a particular focus on commercial investments and counterparty risk. 

He leads on Arlingclose’s contractor financial due diligence service, supporting clients in assessing the financial standing of suppliers to ensure the long-term security and delivery of major contracts. Perry also plays a central role in the firm’s fair value and expected credit loss modelling service, helping clients meet financial reporting requirements. 

He contributes to the development of Arlingclose’s investment and debt benchmarking tools, delivers money market fund and balance sheet benchmarking, and supports bespoke strategy sessions. He is a regular contributor to Arlingclose’s weekly economic commentary. 

Perry holds the CISI Level 3 Certificate in Securities and is currently working towards the ACT Diploma in Treasury Management. He has a BSc (Hons) in Economics from the University of Bath, including a placement at Independent Broking Solutions Ltd, a Lloyd’s of London authorised insurance broker, giving him valuable experience in financial operations and private sector risk management. 

Outside of work, Perry enjoys football, padel and golf when the weather allows, and turns to chess and poker for a tactical challenge. A lifelong QPR supporter, he's well aware that the club’s best years were long before his time. 

Philip oversees the financial operations and contract management at Arlingclose, playing a central role in supporting the company’s commercial growth and operational integrity. His responsibilities span financial control, accounts payable and receivable, credit processes, and debt monitoring. Through regular reconciliations and updates, he ensures clear visibility of the company’s cash position and oversees all aspects of cash management. 

A key focus of Philip’s work is the oversight and maintenance of contract records across all Arlingclose Services. He ensures accurate recording, tracking, and reporting of contractual commitments, safeguarding the integrity of the company’s service delivery. 

Philip also manages Arlingclose's insurances, payroll and pension contributions, and coordinates HR and personnel matters. He works closely with the company’s auditors to provide transparent and detailed financial reports. 

In addition to his core responsibilities, Philip provides administrative support to colleagues and clients, supporting the rollout of new initiatives and strategic improvements. Working alongside senior leadership and service teams, he helps translate strategic goals into practical, actionable plans. 

Outside of Arlingclose, Philip is also active in the film industry, working as a producer, screenwriter, and script advisor—managing multiple disciplines with a focus on creative and commercial outcomes. 

Greg is an investment and economics specialist currently studying towards the Chartered Institute for Securities & Investment (CISI) – Investment Advice Diploma, a qualification that will formalise his 15 years of experience of UK financial services, macroeconomics, investment products, and risk management. 

Greg is a key advisor and relationship manager for a broad range of public sector clients. He leads the firm's Funds Team, responsible for strategic advice on a wide spectrum of pooled fund products including liquidity, fixed income, equity, real asset, and multi-asset strategies. He has a strong personal interest in sustainability, advising clients on ESG issues as well as influencing Arlingclose’s corporate social value approach. 

Greg is part of Arlingclose’s economic and interest rate forecasting team, contributing to in-house macro analysis and rate projections that inform client investment and debt management strategies. In addition, he leads the firm’s leasing advisory services, supporting clients with asset financing decisions, commercial lease procurement, negotiations and cost-saving opportunities. 

Greg holds a degree in Business Economics with Computing from the University of Surrey and spent a year working at HM Treasury as an Assistant Economist. 

Outside of work, Greg is a keen hiker and music fan, volunteering with walking charity the Ramblers, currently serving as Treasurer for his local group. He can often be found leading group walks across some of the UK’s most scenic landscapes or attending heavy metal gigs, undeterred by the fact that his long hair is now a distant memory. 

Paul is a CFA Charterholder with over 20 years’ experience in financial services, including over 10 years providing treasury management advice to local authorities. 

He is a member of the Interest Rate, Credit, and Pooled Funds teams and his skills and qualifications means he is able to provide investment advice to both retail and professional clients. 

As well as providing treasury advice to his clients, Paul’s work involves the detailed credit analysis of local authorities, housing associations and banks. He also plays a key role in helping to bring new long-term investment solutions to clients, most recently Exchange Traded Funds. 

Paul’s first role in financial services was at Sector Treasury Services, providing treasury management advice to local authorities. He then spent nine years in Santander UK’s corporate banking division, working with local authorities and other public sector bodes, as well as universities, independent schools, charities, and institutional and corporate clients during that time. Earlier in his career, he worked for a FTSE 100 engineering company project managing a range Ministry of Defence contracts having started as an engineering apprentice. 

Paul’s studies have been wide-ranging. Most recently he completed the Chartered Financial Analyst program and before this graduated from the University of Bristol with an MSc in Economics. Earlier studies included business and finance, management, as well as mechanical engineering. 

When not at work, Paul regularly trains in kung fu, something he has been doing for over 15 years, including teaching a younger generation of martial artists. 

Joseph joined Arlingclose in February 2020 and is an Assistant Client Director. His role specialises in advising on investment strategy and credit analysis across the spectrum of treasury investments, from short-term liquidity management to long-term holdings and pooled funds. He provides trusted advice on portfolio allocation and risk mitigation, tailored to client-specific objectives and risk appetites. 

His responsibilities in credit analysis include producing credit commentary and analysis covering banking institutions, supranationals, and sovereign entities. He is also responsible for producing Arlingclose’s quarterly UK bank ‘bail-in’ analysis and conducting investment due diligence. 

Joseph plays a key role in advising clients on the management of short-term government bond portfolios. This includes designing and maintaining rolling investment structures across multiple currencies, with a focus on credit risk assessment, maturity laddering, and sovereign credit analysis. He also provides guidance on yield expectations for UK Treasury Bill auctions, helping clients fully allocate their bids at a competitive rates.  

Joseph graduated from Bournemouth University in 2019 with a BA (Hons) in Economics (2:1) and is currently studying for the Certificate in Treasury with the Association of Corporate Treasurers, having successfully completed four out of five modules with Distinction. The qualification has strengthened his understanding of corporate finance principles, risk identification and measurement, and the application of hedging strategies across financial markets. Outside of work, Joseph enjoys reading science fiction, travelling, and fitness. 

Alice joined Arlingclose in July 2024 as an Apprentice Client Executive. She is a member of the Debt team and part of the support team for the iDealTrade platform. Her responsibilities include maintaining and updating credit profiles and debt portfolios. Alice assists with client communication and preparing materials for client meetings. She also helps distribute daily rates and economic updates to clients.  

Alice completed A-levels in Economics, Business, and Geography in 2023, and is currently studying towards the CIPFA Professional Accountancy Qualification (PAQ). She has passed her first two exams in Management Accounting and Financial Accounting. 

Outside of work, Alice is a keen runner and enjoys going to the gym. She also has a passion for travel and is on a personal mission to visit as many new countries as possible.

Mark is a CIPFA-qualified accountant with over 25 years of experience in local government finance. Since joining Arlingclose in 2010, he has advised a wide range of local authority clients on treasury strategy, MRP policy, technical accounting, and compliance with the Prudential and Treasury Management Codes. 

He leads Arlingclose’s Technical and Consultancy Services, specialising in balance sheet optimisation, long-term financial modelling, and complex HRA matters. Mark is a key contributor to the firm's technical workshops and closedown training, and plays a senior role in developing innovative housing investment solutions. 

Recent work includes advising a Unitary Authority on managing interest rate exposure through a successfully implemented interest rate swap. Prior to Arlingclose, Mark held treasury roles at West Somerset and Taunton Deane councils, worked at Sector Treasury Services advising over 30 clients, and began his career at the Audit Commission. 

Outside of work, Mark can usually be found edging one through slip on the cricket field, losing balls on the golf course, backing a National Hunt outsider with misplaced confidence, or cheering on Somerset County Cricket Club and Exeter City. When not involved in a sporting activity he can be found planning and taking trips abroad with his wife or out walking on Exmoor with their labradoodle. 

Julian brings over a decade of experience in financial services, specialising in liquidity solutions. He has held key roles such as Head of Corporate Business at Amundi and Sales Director at Aviva Investors, focusing on delivering innovative liquidity solutions and building strong client relationships.

​Passionate about delivering the best outcomes for his clients, Julian is committed to exceeding expectations and ensuring client satisfaction. He enjoys the challenges of optimising liquidity investments and is always looking for creative solutions to meet his clients' needs.

​Outside of work, Julian is a keen cyclist and has completed events like the Etape du Tour, the Marmotte, and the Maratona several times. He also loves spending time on the water, whether he’s sailing, scuba diving, or just enjoying a day by the sea.