China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

EuromoneyFXNews.com

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March 2004

Paul Richardson

Head of sports, media and professional client groups, Coutts


Paul Richardson is sometimes asked for his autograph. It is an unusual hazard of his job. As head of Coutts' sports, media and professional client groups, rubbing shoulders with international sports stars, actors and music industry celebrities is an intrinsic part of daily life. "Sometimes I'm out in a public place with clients, and fans ask me for my autograph as they presume I must be famous too," he says. Richardson prefers to shun the limelight, however, and concentrate on his responsibilities.

At Coutts his remit covers the four client groups of sports and entertainment, media banking (which covers individuals and companies), professionals (such as lawyers and accountants) and professional partnerships. For these groups, Richardson is responsible for strategy, profit & loss management, risk management and client and business development, overseeing the work of around 100 staff.

Professional approach In his three and a half years with the London-based...


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