Charlie Chase, a veteran US security leader, used to accompany Christine Lagarde, the organisation’s former managing director, for travel before her to meetings across the world when she led the International Monetary Fund (IMF).
As one of the four regional security advisors for the IMF sat in the colloquially-known “BullPen,” situated within their HQ 1, not far from the White House in Washington DC, and responsible for the daily security of the IMF’s global operations. We interacted on occasions with the EP’s planning.
The risk to the Fund’s leadership, at least in some contexts, was deemed considerable given its profile, the organisation’s role in the global economy, the recent financial crisis and the contentious nature of austerity measures.
The EP team’s role was critical in terms of pre-planning, preparation and risk-aligned executive protection. It was also an important function in the overall business continuity arrangement of the organisation to fulfill its mission to help stabilise the global economy.
The world of security has changed dramatically since 2013 with CEOs being directly targeted, threatened or assassinated, notably including Brian Thompson, the United Healthcare CEO in December 2024 in New York. Other CEOs have been killed but this was notable as Mr Thompson did not have security with him.
Those in the UK and Europe are not immune. Disputed political causes and extreme polarisation have long seen political figures targeted and in some cases killed or injured. It is a small jump to consider the corporate sector being at risk too, given our volatile political system and the contentious nature of corporate interests.
The increased risk is reflected with an ASIS Executive security standard (EP-2025). Meanwhile, publicly traded companies in the US must disclose security spending on executives above 10,000 USD.
The recent assassination of the CEO of United Healthcare in New York and several other high profile incidents has seen a record spend in terms of corporate security. Most companies are now allocating spending to improve CEO protection. :
S&P 500 companies spent $41.6 million combined in 2024 on personal security for 10 CEOs, including Meta Platforms’ (META) Mark Zuckerberg, Blackstone’s (BX) Stephen Schwarzman and Alphabet’s (GOOGL) Sundar Pichai.
The median spend on CEO security has risen to just under 78,000 US dollars, almost 100 percent higher than four years earlier.
This spending reflected investment in dedicated threat intelligence, residential security, travel and cyber in addition to close protection.
The shift in spend reflects the layers of corporate security required for executives.
The conversation and the risk today require a more tailored solution, an assessment which identifies and evaluates the real threats, and where they are most likely to occur. Equally it reflects how leaders how security fits within their and their families’ lifestyle, work patterns, and solutions which are aligned and proportional to the actual risk.
This includes the CEO’s personal life and families and working from home. Their children attending school or being looked after by nannies and other people coming into your home for repairs, or cleaners. All of these considerations need to be taken into account holistically for executive protection. Their travel itineraries are only as strong as your weakest link. So every consideration needs to planned for from the alarm system you choose to use, the type of internet router you have and whether it has two password options, through to more specific management of your dependents’ schedules and travel plans
Armored vehicles provide a good example. When travelling between an airport in New York and your hotel, is your executive more likely to attract attention beyond the risk they are exposed to based on their work? How likely is it that the protection offered by an armored vehicle from explosives or gun fire would be needed if their travel schedule was kept confidential, their social media footprint limited about their trip, and instead their pre-selected driver was trained and provided a vehicle suitable for the location?
Late last year, I went to a training of Technical Covert Security Measures (TCSM) and among those attending was someone from within the organisation’s VIP protection of one of the largest financial organisations in the UK. The skills he said are critical, but it is increasingly about how you do it which respects the individual, their privacy, and their role within the organisation.
Our difference as a company is that we assess the threat, risk profile, and privacy considerations to align risk mitigation, ensure that money is proportional spent or saved, while ensuring that mitigation measures are aligned to the actual risk.
The lessons we learned all those years ago at the IMF remain the cornerstone of our approach. Executive Protection is about preparation, alignment of existing resources, and ensuring a human touch to ensure staff are happy and can continue their lives.
Please feel free to reach out to discuss your requirements confidentially.
In times when more money is spent on executive security, we work to evaluate the risks and design cost-effective and discreet protection.