"The JPMorgan CEO has hiredTodd Combs, one of Buffett's two investment managers at Berkshire Hathaway, to head up a new $10 billion group at the bank and be his special advisor. Bringing Combs into the JPMorgan fold might be as near as Dimon can get to having Buffett himself on his team. "Dimon may very well have viewed Combs as a close proxy for Buffett himself," David Kass, a finance professor and longtime Berkshire blogger, told Business Insider. "Although Dimon could not hire Buffett, he could hire one of his protégés.""
"The "main impetus" for Dimon hiring Combs was likely his observations of the investor as a JPMorgan board member over the past nine years, John Longo, a finance professor, fund manager, and the author of "Buffett's Tips," told Business Insider. But "the fact that he ran a large financial business (Geico), is a successful fund manager, and is a protégé of Warren Buffett certainly enhance his credentials," Longo said. He added that Combs has undoubtedly "learned a great deal" from Buffett, and JPMorgan now stands to benefit from that knowledge."
Todd Combs will leave Berkshire Hathaway to join JPMorgan as head of a new $10 billion investment group and special advisor to CEO Jamie Dimon. Combs has been one of Warren Buffett's two investment managers and has served as CEO of Berkshire-owned Geico since 2020. He sat on JPMorgan's board for nine years, previously ran a hedge fund, and helped establish the Haven healthcare joint venture. Dimon has long admired Buffett, observed Combs closely on the board, and is expected to benefit from Combs's Buffett-influenced investment experience and financial-business leadership.
Read at Business Insider
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