Jamie Dimon poached Warren Buffett’s protégé to run a $10 billion fund—he says Buffett’s response was ‘at least he’s going to you’
Source: Fortune ·
Former Geico CEO Todd Combs had been at Berkshire since 2010.
From the source
Jamie Dimon poached a senior figure from Warren Buffett’s inner circle, and the legendary investor was surprisingly OK with it. The longtime JPMorgan Chase CEO hired former Geico CEO Todd Combs away from Berkshire Hathaway in December 2025, hand-picking him to lead a $10 billion investment group as part of JPMorgan’s Security and Resiliency Initiative aimed at helping companies accelerate manufacturing. During a U.S. Chamber of Commerce event this January, Dimon said he had called Buffett personally to tell him the unwelcome news. He claimed Buffett accepted the outcome, preferring his former executive land at JPMorgan than elsewhere. “It’s a free country, and people make their own decisions,” Dimon said. “I did call Warren. He probably wouldn’t have preferred it, but he said, ‘if he’s going anywhere, at least he’s going to you.'” Buffett’s assistant confirmed the accuracy of the account. In a market saturated with executive moves, Dimon’s Combs hire matters because Berkshire…