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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 private bank, the impact of Richardson's strategy has been clear. The sports and entertainments division he was recruited to develop in 2000 has been the fastest growing of Coutts' client groups in terms of assets, client numbers and income – with average annual growth of 19%.
