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Security firms for the ultra-rich are staffing up with vaccinated bodyguards and brushing up on clients’ laundry list of demands as the wealthy fuel up their jets and superyachts

Samantha Lee/Insider Security firms for the wealthy had to pivot on a dime when travel halted last year. Now they are getting ready for the r…



summer pandemic in the US 2x1

Samantha Lee/Insider

  • Security firms for the wealthy had to pivot on a dime when travel halted last year.
  • Now they are getting ready for the return of luxury vacations by hiring above pre-pandemic levels.
  • Security execs explain how they are prepping for a travel surge and the destinations of the rich.
  • See more stories on Insider’s business page.

In March last year, CEO Dale Buckner watched as countries closed their borders in response to the pandemic. The founder of Global Guardian, a security firm, realized that all travel-protection business for his corporate and wealthy clients was going to dry up. On March 21, he told his employees that 40% of revenue would disappear overnight.

In the next four weeks, the firm pivoted from mostly international work to domestic and shifted its focus from on-the-ground security to surveillance and cybersecurity to make up for the revenue loss. Now Buckner is preparing for the return of travel assignments as more clients get vaccinated and countries reopen and lift cumbersome quarantine requirements. Travel volume is already back to 46% of pre-pandemic levels and he anticipates that percentage to hold steady this summer and surge to 80 to 90% once kids go back to school in September, he said.

“There is now a demand signal from our client base that has said the minute that jet can get into Mexico, Switzerland, Dubai, without it without being overly dramatic and bureaucratic, we’re going,” Buckner, a former special-forces officer, told Insider.

Insider spoke with executives at seven security firms that cater to wealthy families and blue-chip corporations about how they were preparing for the summer travel surge, from hiring staff in excess of pre-pandemic head count to requiring vaccinations for bodyguards and security drivers.

The most cited dream destination for the jet-set crowd was Paris, which has been closed to foreign travelers for more than a year, but Buckner said many clients were planning extravagant trips all over the globe.

“Our high-net-worth families want to execute parts of their bucket list because during COVID, they couldn’t get into Fiji or climb Everest or get to Machu Picchu,” he said. “People are thinking they lost a year of their lives, and in the back of their minds, they’re thinking, ‘What if this happens again?'”

‘The tap instantly turned off’

As corporate and leisure travel came to a grinding halt, medical evacuations and repatriation trips became the bulk of firms’ travel work. That said, some wealthy families never stopped traveling, said Buckner, who had several Northeast clients traveling to Costa Rica, Mexico, and the Dominican Republic this past winter. And a pandemic didn’t stop moneyed clients from expecting white-glove treatment.

“We did a medical evacuation out of St. Barts to Los Angeles for a wealthy family that came down with COVID,” Buckner said. “Their No. 1 concerns were whether we would have Fiji water in the airplane for them and whether we could provide an IV with a medic to them.”

Ground security services come with steep costs. At Global Guardian, one bodyguard costs between $750 and $1800 for 12 hours of protection. Air ambulance services, without enrolling in the firm’s membership program beforehand, can cost up to tens of thousands of dollars. For example, an evacuation from Bali to the Mayo Clinic in Minnesota could cost an estimated $125,000.

Other families booked entire boutique hotels and paid for staff to bubble up, Brian Leek, the managing director of the security firm Crisis24, said. But most clients stayed at home. Crisis24 used to book 400 security assignments a month, and the number went down to three by the end of March 2020, he said. The assignments went from glamorous yacht trips to arduous repatriation jobs, such as driving one client from Romania to London.

“The tap instantly turned off,” Leek told Insider.

Paris is a top destination for the superrich

Clients started asking about traveling abroad in the winter and have picked up this spring, most firm executives said. Inquiries are at 75% of the pre-pandemic level for International SOS, Jeremy Prout, the firm’s director of security solutions, said. Most clients are looking to travel within their regions to countries that have similar COVID-19 case counts to their own, he said.

Unsurprisingly, many of the top destinations for wealthy Americans are countries that have fewer restrictions on foreign travelers, such as Mexico, Costa Rica, and Ecuador. Clients with superyachts are planning weeks-long stays in the Caribbean. Middle Eastern clients are booking trips to the US in June and July.

Joe Funk, a senior vice president at TorchStone, started getting calls in November and December about putting trips on the firm’s radar, mostly to the Caribbean and Latin America. Since the beginning of the new year, wealthy Americans have expressed a lot of interest in going to Europe, but inquiries haven’t translated into a large increase in bookings.

“People are still a little bit reluctant to pull the trigger,” said Funk, who was in the Secret Service under Presidents George H.W. Bush and Bill Clinton. “We’re not nearly seeing the uptick that we would normally see for summer travel throughout Europe.”

The UK, France, Germany, and Amsterdam are top of mind for clients, but the travel restrictions give many pause. Rich clients are especially eager to go to Paris and the south of France, but France currently requires all travelers from outside the EU to quarantine for seven days. France is allowing entry to foreign tourists starting on June 9 if they have a health pass, but it is unclear how to obtain one.

“Europe is the dream, but there are a lot of restrictions on travel to Europe,” Todd Keil, an associate managing director at Kroll, said. “It’s not a cost issue, but it’s inconvenient.”

But restless clients are monitoring travel requirements, and once burdensome restrictions lift, the demand could surge very quickly.

“I think the minute Paris opens, there will be a run on Paris,” Buckner said.

Client demand lists are expected to grow

Dealing with countries’ changing border policies is a new problem on the laundry list of tasks for security firms, such as providing the right kind of bottled water and remembering which clients hate being called “sir.” Firms have to be more flexible than ever when their clients or staff are refused entry to a foreign country.

“We’ve had clients who have been denied entry into Austria, Amsterdam, France, and Asia,” Funk said. “If you have a client who is departing London heading to France, and he gets denied entry – well, you still need to maintain some sort of security coverage for him.”

“Clients’ expectations, in my opinion, are more demanding now, to be truthful,” Leek said. “Hygiene is a very big concern.” For instance, now many clients expect security staff to sanitize hotel rooms and seal the door before they arrive.

Now clients have to be separated from any staff who aren’t vaccinated, William Daly, a partner at Control Risks, said. Buckner’s firm is going one step further and requiring any staff that work in person with clients to get vaccinated.

How firms are staffing up for a surge in travel

Most executives were planning to hire more staff to bring head count above pre-pandemic levels, particularly operations-center employees who handle bookings and coordinate assignments, in anticipation of more client travel this summer.

Daly said assignments hadn’t gone up dramatically, but Control Risks is about to launch an online portal for bookings to expedite the process and hire more security drivers, agents, and other ground-protection professionals.

“We have a great bench of these types of individuals,” a former FBI officer told Insider, but it’s looking to expand because it’s expecting pent-up travel demand to surge.

“If we get a surge period, we want to make sure that we’re able to kind of support those clients who reach out to us,” they added.

London’s Westminster Security is testing its bodyguards for COVID-19 twice a week so they are ready at a moment’s notice for their clients, whether they want to go to take their yacht to Mykonos, Greece, or shop in Paris, which is particularly popular among Middle Eastern clients.

“Our guards are ready to go when they are,” John Moore, a managing director, said.

‘There’s definitely pent-up demand, and at some point, that dam is going to burst’

Though Leek is hiring more staff, particularly administrative staff that coordinate bookings, to prepare for a wave, he is keeping his expectations tempered.

“June is going to be a test phase,” he said, adding that he could see travel picking up in “August before the end of the summer holidays for the children.”

Prout thinks that domestic travel for the wealthy crowd will recover over the winter holidays in 2021, he said, but there is no telling for international travel because of uneven vaccine rollouts and resurgences of the virus.

“My crystal ball has been so wrong over the past 14 months like everyone else’s,” the former Marine officer said.

Keil is similarly cautious but cautiously optimistic.

“I think people are still a bit wary about extensive travel,” he said. “But there’s definitely pent-up demand, and at some point, that dam is going to burst.”



Business insider

Blackstone’s betting $6 billion on the rental market – here’s why private-equity loves real estate right now

Jonathan Gray, Blackstone president and chief operating officer Heidi Gutman/NBCUniversal via Getty Images Blackstone is all-in on rent resets…



Jonathan GrayJonathan Gray, Blackstone president and chief operating officer

Heidi Gutman/NBCUniversal via Getty Images

  • Blackstone is all-in on rent resets and long-term property assets to combat potential inflation.
  • Private equity firms have trillions of dollars in cash to put to work on acquisitions.
  • Blackstone’s share price ticked over $100 for the first time this month.
  • See more stories on Insider’s business page.

It’s been quite the month for Blackstone.

The private-equity behemoth is part of a consortium of investors that bought Medline for about $34 billion, its share price ticked over $100 for the first time, and it’s doubling down on residential real estate with a $6 billion Home Partners of America buy.

It’s a bet on scorching demand for housing continuing, and also a defensive move as inflation worries start to seep into investors’ minds. The average price of a home topped $350,000 for the first time inn May, according to the National Association of Realtors, logging the largest-ever increase in prices since the NAR began tracking data.

“Whether it’s apartments, storage facilities for warehouse distribution, or single-family homes, private-equity is getting into this as an inflation hedge,” Nicholas Tsafos, a partner with accounting firm EisnerAmper, told Insider.

Home Partners, which owns more than 17,000 homes in the US, rents out these properties, but tenants have an opportunity to someday buy the home.

In the single-family rental arena, private-equity firms can hike rents, while also holding onto profitable, tangible assets.

“Because interest rates are low, and with the potential for a pick-up in inflation, private-equity also feels the need to be long on hard assets,” Tsafos said. “In real estate, you buy it today and then flip it for a higher price.”

Jon Gray, Blackstone’s president and COO, alluded to it during the firm’s earnings call in April when he said multi-family apartments that come with the ability to reset rents were key for Blackstone.

The firm bought many houses at remarkable discounts after the housing market crashed in 2007. It accumulated a number of single-family homes through a former portfolio company Invitation Homes. Blackstone sold its final block of shares in the company in 2019.

The private-equity shop also favors logistics spaces, such as warehousing, life sciences offices, and media and studio businesses with offices, according to a June 22 research note from UBS.

In October, Blackstone made a handsome investment when it sold life sciences real-estate company BioMed Realty for $14.6 billion, after acquiring it for about $8 billion in January 2016.

And it’s not just Blackstone. Fellow private-equity investor KKR is investing in My Community Homes, a platform that buys and manages single-family rental properties, according to Bloomberg.

KKR will invest in My Community Homes through its real-estate and private-credit vehicles.

A spokesperson for KKR was not immediately available to comment.

The Carlyle Group said in May that it provided up to $300 million to Four Springs Capital Trust, a private REIT that acquires and manages single-tenant properties with long-term net leases.

Four Springs will use the money to build its portfolio, which encompasses 122 properties across 29 states, Carlyle said in a press release.

The move on real estate comes while private investment firms sit on more than $1 trillion in cash. Borrowing costs, too, remain subdued as the Fed keeps interest rates at all-time lows.

Given the sheer amount of dry powder available, coupled with accommodative credit markets, private-equity is keen to conduct a surfeit of acquisitions, and isn’t shy about injecting large sums of equity into prospective investments.

Medline, for example, is expected to raise roughly $17 billion from the debt markets, while the private investors are providing a similar amount in equity.

“Big leveraged buyouts are back in vogue,” said Christopher Zook, chairman and CIO of alternative investment manager CAZ Investments. “Whether it’s KKR or Blackstone, they have large capital to put to work. So they’ve got to do a ton of deals.”

Disclaimer: KKR holds a majority stake in Insider’s parent company, Axel Springer.

It’s been quite the month for Blackstone.



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Trading the Fed, plus insights from a 99th-percentile fund manager

Hello and welcome to Insider Investing. I'm Joe Ciolli, and I'm here to guide you through the current market and investing landscape. Here…



Hello and welcome to Insider Investing. I’m Joe Ciolli, and I’m here to guide you through the current market and investing landscape. Here’s what’s on the docket:

If you aren’t yet a subscriber to Insider Investing, you can sign up here.

Have thoughts on the newsletter? Just want to talk markets? Feel free to drop me a line at [email protected] or on Twitter @JoeCiolli.

Fed-driven portfolio adjustments GettyImages 1228670990

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The Federal Reserve left interest rates steady this past week while setting the stage for two hikes by year-end 2023. Traders, who took a wait-and-see approach before the Fed meeting, quickly sprung into action. Insider spoke with Wall Street and crypto investors to gauge how to position for the hawkish shift.

Read the full story here:

The Fed has left rates steady while signaling 2 potential hikes by the end of 2023. Here is what to do with your stocks, bonds, and digital assets, according to top Wall Street and crypto investors.99th-percentile insights and stock picks Dave Ellison

Hennessy Funds

Financial-sector stocks have outperformed the rest of the market over the last several months. Hennessy Funds’ Dave Ellison – who’s in the 99th percentile compared to peers over the past year – told Insider he expects their strong performance to continue. He shared 5 financial stocks to buy now in order to take advantage of the remaining upside.

Read the full stories here:

Dave Ellison has beaten 99% of his peers over the last year managing the Hennessy Small-Cap Financial Fund. He breaks down why he thinks financial stocks still have room to run – and shares 5 names to bet onSPAC shorts SPACs and hedge funds 2x1

Brian Snyder/Reuters; Michael Loccisano/Getty Images; Samantha Lee/Insider

Short interest in SPACs stood at $3.2 billion in mid-June, up from $2.7 billion. The uptick in SPAC shorts comes as the market works to recover from a weeks-long slowdown, and one ETF manager expects recently “de-SPACed” companies to see short activity surge soon. Exclusive data shows the 20 most-shorted blank-check companies right now.

Read the full stories here:

Bets against SPACs are revving back up as the market attempts a comeback. Here are the 20 most-shorted blank-check companies now.YOU’RE INVITED: A Millennial Guide to Home Ownership

Join us and learn how to navigate the complicated process of buying a home in today’s hot market on Tuesday, June 22 at 12 p.m. ET – during a free, hour-long virtual event presented by Fidelity.

Register here.

Stock pick central

Seeking experts who are willing to name names? Look no further:

Have thoughts on the newsletter? Just want to talk markets? Feel free to drop me a line at [email protected] or on Twitter @JoeCiolli.



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Artificial Organs Market | $ 10.90 billion growth expected during5 | Technavio

NEW YORK, June 18, 2021 /PRNewswire/ — The artificial organs market is expected to grow by USD 10.90 billion during 2021-2025, according to Techn…



NEW YORK, June 18, 2021 /PRNewswire/ — The artificial organs market is expected to grow by USD 10.90 billion during 2021-2025, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the artificial organs market in optimistic, probable, and pessimistic forecast scenarios.

Technavio has announced its latest market research report titled Artificial Organs Market by Product and Geography - Forecast and Analysis 2021-2025

Understand the in-depth market insights with value chain analysis and validation techniques:
Download FREE Sample Report

With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.

The artificial organs market will witness a positive impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase in 2021 as compared to 2020.

This post-pandemic business planning research will aid clients to:

  • Adjust their strategic planning to move ahead once business stability kicks in.
  • Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
  • Conceptualize scenario-based planning to mitigate future crisis situations.

Key Considerations for Market Forecast:

  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
  • Pre- as well as post-COVID-19 market estimates
  • Quarterly impact analysis and updates on market estimates

Major Three Artificial Organs Market Participants:

Abbott Laboratories
Abbott Laboratories offers ASSURITY MRI PACEMAKER. Its size and shape allow surgeons to make small incisions during the implantation procedure. This pacemaker requires a small pocket under the skin of the chest during implantation.

Asahi Kasei Corp.
Asahi Kasei Corp. offers REXEED. It is a hemodialyzer for effective removal of toxins and low molecular weight proteins.

B. Braun Melsungen AG
B. Braun Melsungen AG offers Diacap Pro. It is a hemodialyzer that removes wastes and excess fluid from the blood.

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown:

Artificial Organs Market 2021-2025: Segmentation

Artificial organs market is segmented as below:

  • Product
    • Artificial Heart
    • Artificial Kidney
    • Cochlear Implants
    • Artificial Pancreas
  • Geography
    • North America
    • Europe
    • Asia
    • ROW

The artificial organs market is driven by the increasing prevalence of chronic disorders. In addition, the growing demand for pacemakers and dialyzers is expected to trigger the artificial organs market toward witnessing a CAGR of almost 9% during the forecast period.

Know more information on factors assisting the artificial organs market growth during the next five years, Request Free Sample Report @

Related Report on Healthcare Include:

Global Breast Reconstruction Market- The breast reconstruction market is segmented by product (breast implants and tissue expanders) and geography (North America, Europe, Asia, and ROW).
Download FREE Sample Report

Global Dental Infection Control Products Market- The dental infection control products market is segmented by product (consumables and equipment) and geography (North America, Europe, Asia, and ROW).
Download FREE Sample Report

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Report Page:

Technavio (PRNewsfoto/Technavio)

Cision View original content to download multimedia:—10-90-billion-growth-expected-during-2021-2025–technavio-301315548.html

SOURCE Technavio

Markets Insider and Business Insider Editorial Teams were not involved in the creation of this post.

With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.



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