JPMorganChase Snags Todd Combs From Berkshire Hathaway

JPMorgan JPM -0.34%decrease; red down pointing triangle Chase has plucked Todd Combs, one of Warren Buffett’s top lieutenants, from Berkshire Hathaway BRK.B 0.22%increase; green up pointing triangle to join the bank’s recently launched $1.5 trillion security-and-resiliency initiative.

JPMorgan on Monday said Combs, Berkshire’s investment manager and chief executive of its Geico insurance unit, will head the initiative’s $10 billion strategic-investment group and act as a special adviser to Chairman and CEO Jamie Dimon.