NEW YORK—Major banks have stepped up security for their top executives in the wake of the December 2024 killing of UnitedHealthcare CEO Brian Thompson in Manhattan, with new disclosures showing higher spending on home protection, private travel, car services and other safeguards for bank leaders.
American Banker reported the increases at several large institutions, while Reuters has separately found the broader corporate sector is expanding protection for senior executives and public-facing events after the attack.
Thompson was shot and killed outside a Midtown hotel just before UnitedHealth’s investor conference in what police described at the time as a targeted attack, an incident that quickly reverberated through corporate boardrooms and prompted companies to reassess executive risk. Reuters reported that UnitedHealth later disclosed spending $1.7 million on security for its top executives in 2024, the first time it provided that detail in its proxy filing.
Among banks, American Banker reported that Wells Fargo, Capital One, American Express and Goldman Sachs all increased CEO protection costs in 2025. Wells Fargo spent $556,000 on physical and digital security at or near CEO Charlie Scharf’s residences, nearly seven times its 2024 level, while Capital One’s expenses for CEO Richard Fairbank rose from $15,000 to $53,000. Goldman Sachs spent about $96,000 on personal security for CEO David Solomon, up 15% from 2024.
American Express posted one of the sharpest jumps. According to American Banker, the company spent nearly $3.5 million in 2025 on home security and protection services for CEO Stephen Squeri, up from $317,000 in 2024, saying in its proxy that the increase reflected enhanced security measures and higher service costs amid the broader security environment.
The increases at banks fit a wider trend across corporate America. Reuters reported in April 2025 that at least a dozen S&P 500 companies had flagged rising security risks after Thompson’s murder, and that the median disclosed executive-security perk rose to $94,276 in 2024 from $69,180 in 2023. By August 2025, Reuters reported Equilar data showing median spending for top officers had climbed 16% to a record $106,530, with nearly a third of CEOs in the group receiving security services.
Security specialists told both outlets the response has gone beyond protecting a single chief executive. Reuters reported that companies are increasingly extending coverage to other C-suite leaders, board members and major public events, while American Banker quoted former FBI official Holden Triplett as saying CEOs and other senior figures are becoming bigger targets as companies are pulled into political, geopolitical and social conflicts.