Todd Combs

Last updated
Todd Combs
Born
Todd Anthony Combs

(1971-01-27) January 27, 1971 (age 51)
Sarasota, Florida, U.S.
Alma mater Florida State University
Columbia Business School

Todd Anthony Combs (born January 27, 1971) is a former hedge fund manager and current investment manager at Berkshire Hathaway, who has been the chief executive officer (CEO) of GEICO since January 2020. [1] Alongside Ted Weschler, he is frequently cited as a potential successor of Warren Buffett as the chief investment officer of Berkshire. [2] In 2016 he was appointed board member of JPMorgan Chase. [3]

Contents

Early life and education

Todd Anthony Combs was born and raised in Sarasota, Florida attending Riverview High School. [4] [5] He is a 1993 graduate of Florida State University, with degrees in finance and multinational business operations. Combs later attended Columbia Business School in New York City, graduating in 2002. [6] [7] [8]

Career

After graduating college, Combs became a financial analyst for the State of Florida Banking, Securities and Finance Division. From 1996 to 2000 he was a pricing analyst at Progressive Insurance and from 2000 to 2002 he was an insurance analyst at Keefe, Bruyette & Woods. From 2003 until 2005, Combs worked at Copper Arch Capital, a hedge fund run by Scott M. Sipprelle. [9]

In 2005, with $35 million in seed money from Stone Point Capital, Combs formed Castle Point Capital. He served as Chief Executive Officer and Director of the Greenwich, Connecticut, based hedge fund until 2010, during which time the returns were a cumulative 34%, according to an investor. [9] [10] In October 2010, the Wall Street Journal reported that Buffett had tapped Combs to eventually replace him as the chief investment officer of Berkshire Hathaway. [6]

In September 2016 Combs joined the board of U.S. bank JPMorgan Chase, an appointment that expanded Berkshire's ties in the financial services industry to the top three banks in America. [3]

On December 23, 2019 Combs was announced as the new CEO of GEICO, a subsidiary of Berkshire. He will continue in his duties as a portfolio manager for Berkshire. [11]

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References

  1. "GEICO's Roberts to Retire at the End of 2020, to Be Succeeded by Todd Combs of Berkshire Hathaway". Business Wire. 2019-12-23. Retrieved 2019-12-26.
  2. Serwer, Andy (28 April 2017). "EXCLUSIVE: Warren Buffett's money managers, Todd Combs and Ted Weschler, speak". Yahoo! Finance . Retrieved 25 January 2018.
  3. 1 2 Stempel, Jonathan (2016-09-20). "Buffett investing deputy Combs joins JPMorgan board". Reuters . Retrieved 25 January 2018.
  4. MCQUAID, Kevin; Pollick, Michael. "Sarasotan in line as possible Buffett successor". Herald-Tribune. Retrieved 2 March 2021.
  5. "Sarasota native not among Buffett promotions". Sarasota Herald Tribune. 10 January 2018. Retrieved 25 January 2018.
  6. 1 2 Susan Pulliam; Serena Ng (28 October 2010). "Buffett Flags a Successor" . Wall Street Journal . Retrieved 27 October 2010.
  7. http://www.mbamission.com/blog/2010/10/27/mba-news-cbs-%E2%80%9902-grad-to-manage-berkshire%E2%80%99s-billions/
  8. Foley, Stephen (18 May 2016). "Warren Buffett's protégés flex investment muscle". Financial Times. The Financial Times Ltd. Retrieved 12 April 2017.
  9. 1 2 Barr, Alistair (27 October 2010). "Photo of Berkshire's 'mystery man' elusive". MarketWatch. Retrieved 28 May 2019.
  10. Serena Ng; Susan Pulliam; Gregory Zuckerman (28 October 2010). "Buffett: Combs Is 'a 100% Fit'". Wall Street Journal . Retrieved 27 October 2010.
  11. "Warren Buffett protege Todd Combs named Geico CEO". CNBC . 23 December 2019.

Further reading