Overview
- Todd Combs resigned from Berkshire Hathaway and Geico to join JPMorgan in January 2026, stepping down from JPMorgan’s board immediately and becoming a special adviser to CEO Jamie Dimon.
- The role sits within JPMorgan’s Security and Resiliency Initiative, which pairs a $10 billion equity pool with a $1.5 trillion commitment to financing and lending focused on U.S. economic strength.
- JPMorgan formed an External Advisory Council chaired by Dimon, with members including Jeff Bezos, Michael Dell, Jim Farley, Robert Gates, Condoleezza Rice, Paul Nakasone and Phebe Novakovic.
- Berkshire named Nancy Pierce as Geico CEO effective immediately and appointed NetJets chief Adam Johnson president of its consumer products, services and retailing businesses, as Greg Abel prepares to become CEO on January 1, 2026.
- Longtime Berkshire CFO Marc Hamburg plans to retire in June 2027, with Charles Chang designated to succeed him in June 2026, and Berkshire created a new senior vice president and general counsel role for Michael O’Sullivan starting January 1, 2026; analysts say Combs’ exit raises questions about future management of Berkshire’s stock portfolio.