AYU Partner Spotlight: Richard Clark of Zodia Custody
With a proven track record
in revenue generation and business growth, Richard leads the sales team and is part
of Zodia Custody's Executive Committee.
Richard Clark, Chief Revenue Officer at Zodia Custody, boasts over 17 years of expertise in the financial services industry. Prior to joining Zodia Custody, he spent over 15 years at Bank of America Merrill Lynch, following his early career at Morgan Stanley. Richard has held senior positions across various asset classes, including Futures & Options, Fixed Income Prime Brokerage, FX Prime Brokerage, and OTC Derivatives Sales.
With a proven track record in revenue generation and business growth, Richard leads the sales team and is part of Zodia Custody's Executive Committee. He is passionate about driving revenue growth and achieving business objectives in the digital asset industry with a strategic and forward-thinking approach.
Hi Rich, what are you working on today?
Today, the senior leadership offsite brings together management teams to finalise Zodia Custody's strategy for the year — a critical juncture for business continuity, scaling, and achieving AUC and revenue growth. As Chief Revenue Officer, my role is pivotal in driving collaboration and synthesising input from diverse teams to collectively achieve our goals.
How did you get to where you are now?
Before delving into cryptocurrencies, I spent over 16 years in investment banking, specialising in derivatives sales at Bank of America. My interest in crypto sparked in 2017 with a Netflix Bitcoin documentary. I immersed myself in the ICO craze, exploring whitepapers and the crypto landscape.
During this time, I engaged clients on the potential launch of the first-ever Bitcoin Futures product by the CME Exchange. This initiative led me to join a digital taskforce team representing the fixed income division alongside colleagues who have since moved on to firms like Galaxy and Copper. It became clear to me that transitioning to a crypto-native firm was necessary for making a meaningful impact on the institutional adoption of digital assets in the immediate term.
What attracted you to this business?
What drew me to Zodia Custody was its commitment to agile innovation in the digital asset space, perfectly aligning with my expertise and passion. Moving from investment banking, the chance to drive change swiftly and play a role in the fast-paced growth of the crypto industry was incredibly enticing. Joining a Standard Chartered-owned entity offered a dynamic environment where I could lead sales and partnerships.
Witnessing the expansive development of the entire digital asset industry isn't just my passion; it's what I live and breathe.
What has been the most pivotal moment of your career so far?
Stepping onto the trading floor at Merrill Lynch for the first time was eye-opening. The atmosphere and client-focused culture clarified my passion for pursuing a career in sales within the investment banking sector. That moment marked the cornerstone of my professional journey.
What aspect of the industry excites you the most?
Being at the forefront of building the future of financial markets in the digital asset space and driving positive change across the sector.
What would you change?
I would love to accelerate the implementation and build out of infrastructure across the digital asset industry. Larger firms often face delays due to navigating blockchain, risk, compliance, and endless committee approvals. My goal would be to expedite this by ensuring necessary elements are in place for traditional institutions entering the digital asset space. Traditional finance already demonstrates this with established connections across the ecosystem, from custodians, to clearing houses, exchanges, or bank accounts.
What do you invest in personally?
A couple of my hobbies have turned into investments over time. Collecting vinyl records, especially electronic music, has been a passion since my teenage years. During COVID I found myself deep down rabbit holes in the vinyl secondary market and quickly became well-versed in the value of thousands of records. Similarly, I've been deeply involved in street art collecting for 10-15 years. My mantra is to buy art I like, with appreciation as a bonus.
In terms of traditional financial investments, I'm a big believer in digital assets, especially Bitcoin. Despite setbacks during the ICO craze, I've also invested in traditional funds, including higher-risk emerging market funds for my kids' ISAs.
Where do you celebrate?
Ibiza isn't just about partying; it offers incredible versatility. With its beautiful island, charming restaurants, rich culture, and stunning beaches. Whether you prefer all-night parties, yoga retreats, or scenic hikes, Ibiza has it all.
Despite its popularity, many overlook its diverse offerings. I've explored its rich history and appreciate it as a destination for both celebrations and relaxation. You might even find me there with my family, enjoying the island beyond the late-night party scene.
What is at the top of your bucket list right now?
Burning Man holds a special place in my heart. I've attended twice, in 2016 and 2018, making it over 5 years since my last visit. It's a magical experience, my favourite spot in the world for one week, all thanks to the incredible people. Gathering 70,000 individuals in a completely man-made city is truly extraordinary. While returning to Burning Man is on my bucket list, it's a bit more challenging with two young children.
What does success mean to you?
For me, success isn't about money or material possessions; it's about happiness. Putting smiles on people's faces and finding joy in everyday moments is what truly matters. Success, to me, is all about being happy and spreading happiness to others.
What’s the best piece of advice you’ve ever been given?
"Your network is your net worth." Looking back on my twenty-year career, I realise that my current position is a direct result of my network – comprising clients, partners, and colleagues. From an early age, I was advised to embrace opportunities, be curious, ask questions, attend events, and explore diverse topics beyond my formal education or job scope. This proactive approach has not only opened doors but also significantly expanded my network, leading to the network effect.
Zodia Custody - An official AYU Partner
Zodia Custody is the leading institution-first digital asset custodian by Standard Chartered, in association with SBI Holdings and Northern Trust. It enables institutional investors around the globe to realise the full potential of the digital asset future – simply, safely, and without compromise. Through the combination of leading technology, custody, governance and compliance, Zodia Custody satisfies the complex needs of institutional investors.
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