From 2001 to 2008, Richard served in various senior investment positions at AIG, including as Chief Investment Officer, Insurance Portfolio Management. From 1998 to 2001, Richard served as Chief Investment Officer of American General Corporation in Houston, Tex., and from 1994 to 1998 he served as Vice Chairman, General Counsel, and Chief Investment Officer of Western National Corporation. Richard was a practicing attorney from 1977 to 1994, initially with Sullivan & Cromwell in N.Y., and then with Vinson & Elkins LLP in Houston, where he was a partner specializing in corporate finance.

Richard holds an A.B. in economics from Duke University and also graduated from Duke University Law School.