Jacques P. Perold
ALLSTATEAbout Jacques P. Perold
Independent director of The Allstate Corporation; age 66; director since 2015 (nine years of tenure). Background includes senior leadership in global asset management: former President of Fidelity Management & Research Company LLC; founder, former President and Chief Investment Officer of Geode Capital Management LLC; Chair, Founder and former CEO of CapShift LLC. Key credentials: extensive financial services, risk management, accounting/finance, technology/cybersecurity, and regulated-business expertise; 100% attendance at Board/committee meetings in 2024. Education not disclosed in the proxy.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Fidelity Management & Research Company LLC | President | Not disclosed | Led financial and operational oversight responsibilities; relevant to Audit Committee service at Allstate |
| Geode Capital Management LLC | Founder; President; Chief Investment Officer | Not disclosed | Built and oversaw risk/return frameworks for a global asset manager; informs chairing Allstate’s Risk and Return Committee |
| CapShift LLC | Chair; Founder; Former CEO | Not disclosed | Investment advisory leadership; reinforces risk oversight and impact investing perspective |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MSCI Inc. | Director | 2017–present | Public company board service; global index/analytics expertise complements Allstate risk governance |
| New York Life Insurance Company’s MainStay Funds (and other mutual funds) | Trustee | Not disclosed | Ongoing fiduciary oversight; supports Allstate risk governance credentials |
Board Governance
- Independence: Independent director; Allstate board comprises 12 of 13 independent nominees in the proxy; Perold’s biography explicitly identifies him as independent.
- Committee assignments: Chair, Risk and Return Committee; member, Audit Committee (charters require the Risk and Return Committee Chair to be an Audit Committee member, and vice versa for chairs).
- Attendance: 100% attendance at Board/committee meetings (2024); directors as a group averaged 100% attendance.
- Risk and Return Committee activity: 6 meetings in 2024; recent focus on catastrophe risks and reinsurance, artificial intelligence risk and return governance, and enterprise resilience.
- Audit Committee activity: 8 meetings in 2024; oversees financial reporting, internal controls, ethics/compliance, cybersecurity/data privacy; all members independent and financially literate; Perold is not designated as the SEC “audit committee financial expert” (designations: Sprieser, Brown, Mehta).
Fixed Compensation
| Year | Role | Cash Fees ($) | Notes |
|---|---|---|---|
| 2024 | Risk and Return Committee Chair (May–Dec) | 147,116 | Cash retainer paid quarterly; directors may elect to receive retainer in stock or defer under Director Deferred Compensation Plan. No specific deferral election disclosed for Perold. |
- Related program details: Directors may defer retainers into plan accounts (common share units, money market, S&P 500 index, or 90-day dealer commercial paper); distributions after Board departure per director instructions. The table discloses an example deferral balance for Mr. Traquina; no Perold balance disclosed.
Performance Compensation
| Grant Mechanism | Grant Date / Basis | Value / Share Price | Vesting/Conversion |
|---|---|---|---|
| Annual RSU award for non-employee directors | Granted on June 1 each year | $175,000 per director; 2024 grant priced at $167.52 closing price | RSUs granted on/after June 1, 2016 convert on the earlier of the third anniversary of grant or termination of Board service; conversion may be deferred for ten years or until termination; RSUs convert upon death/disability. Older RSUs have different conversion timing. |
| Outstanding RSUs (12/31/2024) | Units (#) | Value ($) | Multiple of Annual Cash Retainer |
|---|---|---|---|
| Jacques P. Perold | 15,102 | 2,911,515 | 23.3 |
- Committee chair fees and equity mix: As Risk and Return Committee Chair for part-year, Perold’s cash fees exceeded the standard $125,000 director retainer; equity grants are uniform ($175,000 value) across non-employee directors, reinforcing alignment via RSUs.
Other Directorships & Interlocks
| Company | Sector | Role | Overlap/Interlock Considerations |
|---|---|---|---|
| MSCI Inc. | Financial data/indexes | Director (2017–present) | No related-party transactions disclosed with Allstate in 2024; MSCI’s analytics exposure is adjacent to insurance investment activities but no material interlock identified. |
Expertise & Qualifications
- Financial Services; Risk Management; Accounting and Finance; Technology and/or Cybersecurity; Complex, Highly Regulated Businesses; Innovation and Customer Focus. These qualifications stem from leadership at Fidelity and Geode and ongoing fiduciary roles.
Equity Ownership
| As of | Shares Owned (Direct/Indirect) | Options Exercisable ≤ 4/30/2025 | RSUs (convertible within 60 days if retired 3/1/2025) | Total Stock-Based Ownership | % of Class | Pledged |
|---|---|---|---|---|---|---|
| Mar 1, 2025 | 35 | 0 | 12,877 | 12,912 | <1% | None pledged as security |
- Note: Directors also hold additional RSUs not reflected in the “convertible within 60 days” column; Perold’s total outstanding RSUs as of 12/31/2024 were 15,102 (valuation above).
Governance Assessment
- Board effectiveness: Perold’s dual role—Risk and Return Committee Chair and Audit Committee member—enhances cross-committee information flow by charter design; recent oversight of AI risk governance is a positive signal for evolving risk domains.
- Independence and engagement: Explicitly independent, with 100% meeting attendance in 2024—strong engagement and alignment with governance expectations.
- Ownership alignment: Significant director RSU holdings (15,102 units; $2.91 million value) and standard annual RSU grants ($175,000) indicate meaningful equity-based alignment; no pledging of shares reduces alignment risk.
- Conflicts/related-party exposure: No related person transactions identified since the beginning of 2024; no disclosed business dealings between Allstate and entities linked to Perold.
- Audit oversight: While not designated an SEC “audit committee financial expert,” Perold’s financial/operational leadership experience supports his role; committee retains multiple designated experts and external advisors, mitigating risk.
RED FLAGS
- None disclosed related to attendance, hedging/pledging, or related-party transactions; monitor potential interlocks if MSCI or CapShift were ever to enter material transactions with Allstate (none disclosed for 2024).
Signals for investors
- Active oversight of catastrophe, reinsurance, and AI risk within the Risk and Return Committee suggests forward-leaning risk governance—supportive of investor confidence amid volatile loss environments and emerging technology risks.
- Consistent equity-based director compensation and RSU conversion/deferral mechanics encourage long-term alignment without short-term trading incentives.