Overview
- Combs will join JPMorgan in January to direct investments focused on defense, aerospace, healthcare, and energy.
- He stepped down from JPMorgan’s board effective immediately and will serve as a special advisor to CEO Jamie Dimon.
- Geico operating chief Nancy Pierce was promoted to CEO following Combs’ departure from Berkshire.
- JPMorgan’s Strategic Investment Group, part of the initiative, is reported at about $10 billion in capital.
- Berkshire also detailed leadership changes including CFO Marc Hamburg’s planned 2027 retirement, Charles Chang’s 2026 succession, NetJets chief Adam Johnson’s expanded remit, and Michael Sullivan’s appointment as general counsel.