JPMorganChase Snags Todd Combs From Berkshire Hathaway -- Update

By Colin Kellaher

JPMorganChase has plucked Todd Combs, one of Warren Buffett's top lieutenants, from Berkshire Hathaway to join the bank's recently launched $1.5 trillion security-and-resiliency initiative.

JPMorganChase on Monday said Combs, Berkshire's investment manager and chief executive of its Geico insurance unit, will head the initiative's $10 billion strategic-investment group and act as a special adviser to Chairman and CEO Jamie Dimon.

Buffett, Berkshire's chairman, said Combs is leaving to accept "an interesting and important job at JPMorgan," adding, "JPMorgan, as usually is the case, has made a good decision."

JPMorganChase said Combs, who has been a board member since 2016, has stepped down as a director and will join the New York bank next month.

Berkshire said Nancy Pierce, who had been Geico's chief operating officer, succeeds Combs at the helm of the insurer.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

12-08-25 0642ET