Berkshire’s Todd Combs Departs for JPMorgan in High-Profile Move

Berkshire Hathaway investment manager Todd Combs is leaving the conglomerate to join JPMorgan, marking a notable executive shift in the asset-management ranks. Combs, long regarded as one of Warren Buffett’s key lieutenants on investment decisions and a leader associated with the insurer Geico, will take on a new role at the banking giant, according to reports.

The move removes a senior portfolio manager from Berkshire’s relatively small, tightly knit investment team. Combs has been viewed internally and externally as part of the succession-era bench at Berkshire, alongside other seasoned deputies helping to steer the conglomerate’s vast equity and fixed-income holdings. His departure raises questions about how Berkshire will reallocate responsibilities across both its insurance operations and its investment portfolio.

For JPMorgan, the hire represents an effort to deepen its investment-management expertise and to attract proven senior talent from rival firms. The bank has been expanding its asset-management and wealth businesses, and securing an experienced manager from a high-profile institution could bolster its capabilities and client offerings.

Market observers say the practical effects on either firm’s public-facing operations should be assessed over time. Berkshire’s decentralized structure often allows subsidiaries and investment groups to continue operating with minimal disruption after leadership changes, while JPMorgan’s scale could provide Combs with broader platform resources.

Analysts note potential implications for Geico's strategic leadership and Berkshire’s capital allocation process. Reassigning Combs’ duties may prompt internal promotions or external hires to fill gaps in insurance oversight and portfolio management.

The move also highlights competition among major financial institutions to secure experienced portfolio managers who can deliver long-term returns for institutional and private clients. While specifics on Combs’ title and duties at JPMorgan have not been publicly detailed, the transition underscores how top-tier investment talent remains highly sought after across the industry.

Investors and industry watchers will likely look for further announcements from Berkshire Hathaway and JPMorgan to clarify timelines, reporting lines and any immediate operational impacts. For now, the shift is being treated as a significant personnel change with potential strategic ramifications for both firms.