Sir Paul is Chairman of Oxford University Endowment Management Limited and Chair of the Oxford University Investment Committee, a Trustee of the Metropolitan Museum of Art, New York, Chair of the visiting committee of Medieval Art and the Cloisters and Co-Chair of the International Council, a Trustee of The British Museum, a Fellow of the Society of Antiquaries, Bancroft Fellow of Mansfield College, Oxford University, a member of the Bard Graduate Center Board, a member of the Getty International Council and an Ambassador for AfriKids.

Sir Paul is the former Chairman of the Victoria and Albert Museum having served two terms. His second term ended September 2015. He was also the Chair of the World War 1 Cathedral emergency repair panel. And Chair or the UK Cathedral and major churches grants panel.

In July 2019, Sir Paul received an honorary doctorate from Birmingham University.

In May 2019 Sir Paul received an honorary doctorate (Doctor of Humane Letters) from Bowdoin College, Maine, for philanthropy and services to the arts.

In October 2018, Sir Paul was made an Honorary Fellow of King Edward’s School, Birmingham.

In October 2015, Sir Paul was made an honorary senior research fellow by the Victoria and Albert Museum and is also a Trustee of the V&A Foundation.

In May 2015 Sir Paul was made a “Chevalier dans Ordre des Arts et Lettres” for services to French art, awarded by the French Government’s Minister of Culture

Sir Paul was a Commissioner of the National Infrastructure Commission, an independent body that enables long-term decision making in UK infrastructure projects from 2015 to 2016.

In 2014 Sir Paul became Chairman of the World War I Cathedral Repair Commission.

Sir Paul is a former Chairman of the Gilbert Trust for The Arts, former Trustee of The Courtauld Trust and The Burlington Magazine Foundation and a former director of the Alternative Investment Management Association.

Sir Paul is co-founder of Lansdowne Partners from which he retired as CEO at the end of June 2013. Until he founded Lansdowne Partners in July 1998, Sir Paul was, from 1992, Managing Director and Head of the International Department of Schroder & Co. Inc. which he had joined in 1984. From 1993, he was also a director of the Schroder Securities European Division of Schroders Plc and a director of Schroder Securities Europe Limited and Schroder Securities (Switzerland) Limited. From 1993 to 1995 he was a member of the executive committee of Schroder Securities Limited. From 1980 to 1984 he worked at Goldman Sachs & Co.

Sir Paul holds an MA (Hons) and a first class BA (Hons) in Law from Mansfield College, Oxford University.

In December 2011, he was knighted for his services to Art and Philanthropy.

In 2024, Paul was awarded Honorary Research Fellow at the British Museum.