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Berkshire Hathaway CFO Marc Hamburg to retire; Todd Combs exits GEICO for JPMorgan
Todd Combs will lead JPMorgan's new $10 billion Strategic Investment Group focused on defense, aerospace, healthcare, and energy under the Security and Resiliency Initiative.
- Recently, Berkshire Hathaway announced Todd Combs will leave Berkshire and GEICO to head JPMorgan Chase & Co.'s $10 billion Strategic Investment Group within the Security and Resiliency Initiative, while Marc Hamburg will retire in June 2027 after 40 years at the company.
- The SRI, part of JPMorgan Chase & Co.'s plan, commits to a $1.5 trillion initiative to help companies accelerate growth, boost innovation, and bolster U.S. manufacturing, Buffett said.
- Stepping off the board effective immediately, Todd Combs will report to Jamie Dimon, work with the Commercial & Investment Bank and Asset & Wealth Management, and serve as a Special Advisor.
- Ahead of Buffett's succession, Berkshire announced on Monday that Nancy Pierce replaces Combs as GEICO CEO and Michael Sullivan will join as senior vice president and general counsel.
- With high-profile advisors, the SRI is positioned to guide JPMorgan's strategy and investment priorities, with Dimon chairing the External Advisory Council including Bezos, Dell, Rice, and Gates.
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22 Articles
Berkshire’s Financial Chief Hamburg to Retire After Four Decades
Berkshire Hathaway Inc. announced a handful of leadership changes including the retirement of its longtime chief financial officer, as the $1 trillion conglomerate prepares for the retirement of Warren Buffett.
·United States
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A longtime Warren Buffett deputy is leaving to join JPMorgan
Warren Buffett, the CEO of Berkshire Hathaway.Nati Harnik/APOne of Warren Buffett's key deputies is leaving Berkshire Hathaway.Todd Combs, the CEO of Berkshire-owned Geico, is joining JPMorgan to head up a new unit.The announcement comes alongside several executive changes ahead of Buffett's retirement as CEO.One of Warren Buffett's top lieutenants is leaving Berkshire Hathaway to join JPMorgan.Todd Combs, one of Buffett's two investment manager…
·United States
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Total News Sources22
Leaning Left4Leaning Right2Center10Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 25%
C 63%
12%
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