On Thursday, JPMorgan Chase CEO Jamie Dimon says he personally informed Warren Buffett after hiring a senior Berkshire Hathaway executive—and the legendary investor’s response was unexpectedly gracious.
Dimon Says He Called Buffett Personally
Speaking at a U.S. Chamber of Commerce event, Dimon said he reached out directly to Buffett after JPMorgan hired Todd Combs, a longtime Berkshire executive and former Geico CEO, in December, reported Fortune.
Dimon described the move as candid but necessary, acknowledging the sensitivity of recruiting from Buffett’s inner circle.
Buffett, Dimon said, did not block the decision and accepted Combs’ choice to leave.
“It’s a free country, and people make their own decisions,” Dimon said, adding that Buffett remarked that if Combs was going to leave Berkshire, JPMorgan was at least a good destination.
Why Todd Combs’ Exit Matters
Combs’ departure is notable because Berkshire Hathaway is known for its decentralized structure and unusually long executive tenures.
Senior leaders are often seen as stewards of a culture shaped by Buffett’s six decades at the helm, making top-level churn rare.
Combs’ departure caught many off guard, as Buffett had long viewed him as a key steward of Berkshire Hathaway’s vast investment portfolio.
Combs joined Berkshire in 2010 after a career as a hedge fund manager and was selected by Buffett as one of two investment managers responsible for picking stocks for the conglomerate.
JPMorgan’s $10 Billion Bet On Manufacturing
At JPMorgan, Combs leads a $10 billion investment group under the bank’s Security and Resiliency Initiative, which aims to help companies accelerate U.S. manufacturing and strengthen supply chains. Dimon cited Combs’ investment track record and experience working alongside Buffett as central to the decision.
Dimon, Buffett And Succession Questions
Dimon has long praised Buffett, calling him a friend and a model of American capitalism.
While Buffett, 95, has stepped aside as CEO, Dimon, 69, continues to face questions about his own timeline. Greg Abel, Buffett’s designated successor, assumed leadership at the start of 2026.
On Thursday, he said his retirement remains “at least” five years away, again pushing back expectations for a leadership transition at JPMorgan.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga
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