Todd Combs Departs Berkshire Hathaway for Leading Role at JPMorgan
New York, Monday, 8 December 2025.
Todd Combs, a key figure at Berkshire Hathaway, is leaving to head JPMorgan’s new Security and Resiliency Initiative, marking a major shift in both his career and the investment landscape.
A Strategic Career Move
Todd Combs, the esteemed investment manager at Berkshire Hathaway, has announced his departure to join JPMorgan Chase as the head of the newly launched Security and Resiliency Initiative. This move, effective from December 8, 2025, marks a pivotal transition in Combs’ illustrious career, having been a key figure alongside Warren Buffett at Berkshire since 2010 [1].
JPMorgan’s Security and Resiliency Initiative
JPMorgan Chase’s initiative aims to bolster security and resilience across multiple sectors, including defense, energy, and technology, with a staggering commitment of $1.5 trillion. Combs will initially manage $10 billion, focusing on enhancing U.S. defense production and addressing supply chain vulnerabilities [1][3][5].
Impact on Berkshire Hathaway
Combs’ exit comes at a time of significant change for Berkshire Hathaway, with CEO Warren Buffett planning to retire at the end of 2025 and Greg Abel set to take over the reins. This transition raises questions about the future strategic direction of Berkshire, especially in its investment management under new leadership [1][3].
Industry-Wide Implications
The shift of financial focus towards security and resiliency reflects broader industry trends, as private investments increasingly play a crucial role in sectors traditionally dominated by government funding. JPMorgan’s initiative, backed by notable figures like Jeff Bezos and Michael Dell, underscores the growing intertwining of finance and national security [5][6].