T & M Protection Services, which, since 1991 has protected corporate assets, including vital facilities and business operations, recently decided to market its protective services to hedge fund managers seeking protection against kidnappings and corporate sabotage, Hedge Fund Alert reports.
Hedge fund managers get a lot of attention from the media, and that could mean danger, as in the case of Eddie Lampert of ESL Investments, who was held hostage for two days in 2003. Luckily he escaped safe and sound, but other hedge fund companies have decided to take precaution in light of this horrifying event.
"It's our fastest-growing area," said CEO Robert Tucker, of T&M's hedge fund clients. "These guys are making front-page news with their compensation packages and real estate deals." Joseph Russo, a former secret service agent who was head of security detail for former President Bill Clinton, leads the firm.
Today, T & M has 10 hedge fund managers as clients, as opposed to two last year. It supplies bodyguards and armed drivers, consulting on alarm systems, access-control systems and telephone surveillance meant to detect bugged lines. T & M can also conduct due-diligence reviews of companies that hedge funds are considering as investments and investors funds are considering as new clients.