A slider mounted CPP GMR or TMR read head sensor is protected from electrostatic discharge (ESD) damage and from noise and cross-talk from an adjacent write head by means of a balanced resistive/capacitative shunt. The shunt includes highly resistive interconnections between upper and lower shields of the read head and a grounded slider substrate and a low resistance interconnection between the lower pole piece of the write head and the substrate. The capacitances between the pole piece and the upper shield, the upper shield and the lower shield and the lower shield and the substrate are made equal by either forming the shields and pole piece with equal surface areas and separating them with dielectrics of equal thicknesses, or by keeping the ratio of area to insulator thicknesses equal.