Todd Combs, the former Berkshire Hathaway investment manager and current CEO of GEICO, will begin leading JPMorgan Chase’s $10 billion Strategic Investment Group on January 2026. The appointment comes after Combs stepped down from the bank’s board of directors, and he will also serve as a special advisor to CEO Jamie Dimon.
The Strategic Investment Group is part of JPMorgan’s newly launched Security and Resiliency Initiative, a $1.5 trillion, 10‑year program designed to strengthen U.S. economic security. The initiative targets defense, aerospace, healthcare, and energy sectors, with the goal of investing in companies and technologies that reduce dependence on foreign supply chains and support domestic manufacturing.
Combs’ selection signals JPMorgan’s intent to leverage his deep investment expertise and Berkshire Hathaway’s long‑term portfolio management experience. By placing him at the helm of the SRI, the bank aims to identify high‑impact opportunities that align with national security priorities while driving long‑term shareholder value. His role as a special advisor to Dimon underscores the strategic importance of the initiative to JPMorgan’s leadership team.
The initiative’s focus on critical sectors dovetails with U.S. government objectives to enhance supply‑chain resilience and technological independence. JPMorgan’s plan to deploy $10 billion through the Strategic Investment Group is expected to create a pipeline of investments that support domestic innovation and secure key industries, positioning the bank as a key partner in national resilience efforts.
The move also reflects a broader transition at Berkshire Hathaway, as Combs departs to pursue new opportunities. Analysts view the appointment as a positive signal of JPMorgan’s commitment to long‑term strategic investing, and the bank’s leadership signals confidence in the growth potential of the targeted sectors.
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