Stephen McDonald grew up in Lima, New York. He graduated from Georgetown University in 1961, served in the U.S. Coast Guard and joined Citibank in 1963. After completing several assignments at Citibank he was named Deputy Finance Administrator and Commissioner of the Treasury for the City of New York in 1970.
In 1975 he moved to California and accepted a position of Senior Vice president at Crocker Bank in Los Angeles. He joined Trust Company West (TCW) as a Managing Director in 1983. Although most of his duties focused on the investment management business in the United States, he began to visit the Middle East on a regular basis. After over 60 trips to the region he continues to be a regular visitor to Saudi Arabia, Kuwait, Abu Dhabi, Dubai, Qatar and Oman. Currently he is an Executive Vice President of TCW and President of the TCW Middle East Group. He has been on the board the Monterey Institute of International Studies since 2004.
For many years he has been very active in not-for-profit organizations. McDonald is past chairman of the Century Housing Corporation of Los Angeles and served on the Boards of the TCW Asset Management Company, Middlebury College, Catholic Charities of Los Angeles, the Good Shepherd Center and Meridian House in Washington, D.C., among others.
Stephen McDonald married Judith deLacey Regan in 1965. They have three children and eight grandchildren and divide their time between Pasadena and Carmel.