Berkshire Hathaway has announced a major leadership realignment just weeks before Greg Abel formally succeeds Warren Buffett as CEO on January 1.
🔹 Key Leadership Moves at Berkshire
- Marc Hamburg, Berkshire’s CFO since 1987, will retire in June 2027.
- Charles Chang, CFO of Berkshire Hathaway Energy, will step into the CFO role next year.
- Todd Combs, once seen as a future steward of Berkshire’s equity portfolio, will depart to join JPMorgan.
Buffett praised Hamburg’s “priceless integrity and judgment,” while market commentators say Abel is “balancing continuity with modernization” under Buffett’s oversight as Chairman.
Berkshire also created a new General Counsel role, appointing Michael O’Sullivan, and confirmed that Abel will directly oversee all non-insurance operations—from BNSF to Berkshire Hathaway Energy and McLane.
🔹 Combs to Lead JPMorgan’s New Strategic Investment Effort
Combs will head the Strategic Investment Group within JPMorgan’s ambitious Security & Resiliency Initiative (SRI) — a $1.5 trillion, decade-long effort supporting U.S. economic and industrial resilience.
His team will focus on investment opportunities across:
- Defense
- Aerospace
- Healthcare
- Energy
- Middle-market and large U.S. corporates
JPMorgan plans to deploy up to $10 billion in direct equity and venture investments to accelerate domestic manufacturing, innovation, and critical infrastructure.
Combs will also join the newly formed External Advisory Council chaired by CEO Jamie Dimon, whose members include:
- Jeff Bezos (Amazon founder)
- Michael Dell (Dell Technologies CEO)
- Condoleezza Rice (Former U.S. Secretary of State)
Analysts say JPMorgan is assembling a “top-tier strategic brain trust” for national-scale investment.