R. Glenn Hubbard
METLIFEAbout R. Glenn Hubbard
Independent Chairman of the Board of MetLife since May 1, 2019; age 66; MetLife director since 2007 (18 years of board service as of April 29, 2025) . Dean Emeritus and Russell L. Carson Professor of Economics and Finance at Columbia Business School; Ph.D. and A.M. from Harvard; B.A. and B.S. from University of Central Florida . Core credentials center on economic policy leadership (Chair, President’s Council of Economic Advisers; Chair, OECD Economic Policy Committee), regulated industry/government expertise, and investments oversight .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Columbia University | Dean Emeritus, Graduate School of Business; Russell L. Carson Professor of Economics and Finance; Professor of Economics (Arts & Sciences) | Dean Emeritus (2019–present); Professor roles since 1994/1997 | Academic leadership and finance/economics expertise supporting board risk, strategy and capital markets oversight |
| President’s Council of Economic Advisers | Chairman | 2001–2003 | Led U.S. economic policy advisory; informs macro risk and policy oversight |
| OECD | Chairman, Economic Policy Committee | 2001–2003 | International policy coordination experience; global literacy |
| U.S. Department of the Treasury | Deputy Assistant Secretary for Tax Policy | 1991–1993 | Regulatory/tax policy expertise; supports governance and oversight |
| Committee on Capital Markets Regulation | Co-Chair | 2006–present | Independent research leadership on market regulation; investments/risk perspective |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| BlackRock Fixed Income Funds (registered investment company complex) | Director | 2019–present | Fund complex of 67 registered investment companies; governance and investment oversight |
| TotalEnergies SE (non-U.S. listed) | Director | 2021–present | Global energy firm board experience; regulated industry exposure |
| Automatic Data Processing, Inc. | Director (prior) | 2004–2020 | Prior large-cap public company board service |
Board Governance
- Roles and Committees: Independent Chairman of the Board; member, Executive Committee (EC), Governance and Corporate Responsibility Committee (GC), and Investment Committee (IC) .
- Independence: Board annually affirms independence; all Non-Management directors (including Hubbard) satisfy NYSE/SEC independence; principal standing committees are fully independent .
- Leadership structure: Separate CEO and Chairman enhances independent oversight; Hubbard elected as independent Chair based on leadership and policy expertise .
- Attendance and engagement: 2024 attendance at both regular Board and Committee meetings was 100% for applicable directors; each director exceeded 75% threshold; directors also attended the 2024 annual meeting . Executive sessions of Independent Directors held regularly; Chairman leads and facilitates board effectiveness and evaluations .
- Evaluations: Annual board/committee evaluations; biennial individual self/peer evaluations led by the Chairman .
Fixed Compensation
| Component | Amount ($) | Notes |
|---|---|---|
| Fees Earned or Paid in Cash (2024) | 275,000 | Includes Board retainer and Chairman of the Board retainer |
| All Other Compensation (2024) | 1,640 | Group life insurance ($1,584) and business travel accident insurance ($56) |
| Total Cash + Other (2024) | 276,640 | Sum of cash fees and other compensation |
Director retainer schedule (approved in 2023; no meeting fees):
| Retainer Type | Amount ($) |
|---|---|
| Board (cash) | 150,000 |
| Board (fully vested shares value) | 175,000 |
| Chairman of the Board (cash) | 125,000 |
| Chairman of the Board (fully vested shares value) | 125,000 |
| Committee Chair (cash) – Audit | 40,000 |
| Committee Chair (cash) – Finance & Risk | 40,000 |
| Committee Chair (cash) – Compensation | 30,000 |
| Committee Chair (cash) – Governance & Corp. Responsibility | 25,000 |
| Committee Chair (cash) – Investment | 25,000 |
- Equity retainers are granted under director stock plans (2015 plan terminated effective 12/31/2024; 2025 plan effective 1/1/2025); grants vest immediately; no director stock options outstanding as of 12/31/2024 .
Performance Compensation
| Grant Date (2024) | Stock Awards Grant-Date Fair Value ($) | Vesting Terms |
|---|---|---|
| January 2, 2024 | 75,028 | Fully vested shares at grant |
| April 1, 2024 | 75,016 | Fully vested shares at grant |
| June 18, 2024 | 75,030 | Fully vested shares at grant |
| October 1, 2024 | 75,074 | Fully vested shares at grant |
| Total (2024) | 300,148 | Sum of four annual equity installments |
- Director equity is service-based and immediately vested; no PSUs/RSUs with performance metrics for directors are disclosed; options awards are not outstanding for non-management directors .
Other Directorships & Interlocks
| Company | Role | Start | Potential Interlock Considerations |
|---|---|---|---|
| BlackRock Fixed Income Funds | Director | 2019 | Registered investment company governance; MetLife is a large institutional investor and runs MIM, but no related-person transactions requiring disclosure since Jan 1, 2024; Board evaluates outside affiliations during independence review |
| TotalEnergies SE | Director | 2021 | Non-U.S. listed energy firm; regulated industry experience |
| ADP (prior) | Director | 2004–2020 | Prior service; no current interlock |
- Related-Person Transactions: None requiring disclosure since January 1, 2024; governance policy requires Governance Committee review/approval for any potential related-person transactions .
Expertise & Qualifications
- Regulated industry/government: Treasury, CEA, OECD roles provide deep policy/regulatory insight supporting oversight of risk, strategy, and compliance .
- Investments and capital markets: Co-Chair of Committee on Capital Markets Regulation; BlackRock fund complex directorship .
- Global literacy and sustainability: International policy leadership; sustainability highlighted among director competencies .
Equity Ownership
| Holder | Common Stock (#) | Exercisable Options (#) | Deferred Shares (#) | Total Beneficial Ownership (#) | Percent of Class (%) | Deferred Shares Not Beneficially Owned (#) |
|---|---|---|---|---|---|---|
| R. Glenn Hubbard | 7,904 | 0 | 90,045 | 97,949 | * (<1%) based on 674,385,252 shares | 1 |
- Director ownership guidelines: Non-Management directors should hold at least 5x cash retainer; hedging and pledging of MetLife securities are prohibited for directors and employees . Individual compliance status versus guideline is not specifically disclosed; directors are expected to retain net shares from compensation distributions to meet guidelines .
Insider Trades (2025 filings)
| Date | Transaction | Shares | Price ($) | Source |
|---|---|---|---|---|
| Apr 1, 2025 | Form 4 filed; reporting person relationship confirmed (Director) | — | — | https://d18rn0p25nwr6d.cloudfront.net/CIK-0001099219/7a9ddd30-6138-4736-9dcd-eb594aa51df6.pdf |
| Jun 17, 2025 | Acquired common stock | 964 | 77.85 | https://www.stocktitan.net/sec-filings/MET/form-4-met-life-inc-insider-trading-activity-b544c6a534c8.html |
| Sep 9, 2025 | Dividend reinvestment acquisition | 663 | 79.29 | https://www.stocktitan.net/sec-filings/MET/form-4-met-life-inc-insider-trading-activity-984267deb8da.html |
| Oct 1, 2025 | Acquired common stock | 916 | 81.93 | https://www.stocktitan.net/sec-filings/MET/form-4-metlife-inc-insider-trading-activity-8488a97b22a7.html |
| Oct 1, 2025 | Form 4 filed (HUBBARD ROBERT GLENN) | — | — | https://www.streetinsider.com/SEC+Filings/Form+4+METLIFE+INC+For%3A+Oct+01+Filed+by%3A+HUBBARD+ROBERT+GLENN/25418471.html |
Governance Assessment
- Board effectiveness: Independent Chair structure, fully independent principal committees, rigorous annual and biennial evaluations, and regular executive sessions indicate strong oversight and accountability; 2024 attendance was exemplary (100%) enhancing investor confidence .
- Compensation and alignment: Director pay balanced between cash and immediately vested equity; clear, market-based structure reviewed by independent consultant (Meridian), with no meeting fees and no director options; director equity aligns skin-in-the-game while prohibiting hedging/pledging to protect alignment .
- Independence and conflicts: Annual independence review; limits on outside boards and audit committee service; no related-person transactions requiring disclosure in 2024; procedures in place for any future related-party review by Governance Committee—low conflict risk signal .
- Shareholder signals: Strong say-on-pay support (95% in 2024) reflects broader governance credibility and investor alignment, though primarily tied to executive compensation program .
RED FLAGS
- None disclosed regarding attendance shortfalls, related-party transactions, pledging/hedging, or pay anomalies for directors in 2024; governance policies explicitly prohibit hedging/pledging and mandate related-party reviews .