Todd Combs Leaves Berkshire for JPMorgan as Wall Street’s $1.5 Trillion Defense Bet Accelerates
JPMorgan Chase said Monday it has hired Todd Combs, CEO of Berkshire Hathaway’s GEICO, to lead a new $10 billion Strategic Investment Group within its $1.5 trillion Security and Resiliency Initiative. Combs will join in January 2026, reporting to CEO Jamie Dimon and focusing on investments in defense, aerospace, healthcare, and energy. Marc Hamburg will retire as Berkshire CFO in 2027, with Charles Chang named successor.