From Deal Journal:
Wall Street bigwigs are never far from their chauffeured cars and beefy brute squad security. Many bosses also have security systems at their homes. All paid for by shareholders, of course, as a standard cost of doing business with the Masters of the Universe.
With proxy season underway, Deal Journal is digging into regulatory filings to pencil in which Wall Street titans have the highest-priced protection details. (Spoiler alert: Warren Buffett wins. As usual. But with a footnote.) We tallied up costs for the personal use of company-paid cars and drivers, home security and other related items disclosed in companies’ filings with the SEC.
Here is the tale of the tape:
Jamie Dimon, J.P. Morgan
2010 cost: $62,782
The cost includes $45,730 for the lease value of Dimon’s personal use of a car, plus insurance premiums, gas, estimated yearly maintenance and compensation for Dimon’s driver — including salary, overtime, benefits and bonus. J.P. Morgan also said it paid out $17,052 for the “cost of residential security” for Dimon, according to J.P. Morgan’s executive compensation disclosures filed today.
Dimon also may not be shabby at protecting himself. The J.P. Morgan chief has an, ahem, much-remarked-upon physique. At one of the holy-crap-the-world-is-ending financial meetings during September 2008, Morgan Stanley executive Colm Kelleher whispered to his boss about Dimon: “He’s in pretty good shape for his age,” according to the book, “Too Big to Fail.”...MORE