Overview
- Combs will head JPMorgan’s new Strategic Investment Group within its Security and Resiliency Initiative, targeting areas tied to national security such as critical minerals and frontier technologies.
- He will also serve as a special advisor to CEO Jamie Dimon, who publicly praised Combs’ experience, character, and judgment.
- Combs has been one of Warren Buffett’s investment managers, has led Berkshire-owned Geico since 2020, previously ran a hedge fund, helped launch the Haven JV, and served nine years on JPMorgan’s board.
- His exit from Berkshire surprised observers who had seen him as a potential steward of the conglomerate’s portfolio, even as Buffett has said successor Greg Abel will make final capital-allocation decisions.
- Analysts describe the hire as Dimon bringing Buffett-style investing expertise into the bank, informed by years observing Combs’ work on JPMorgan’s board.