Todd Combs
{{short description|Investment manager at Berkshire Hathaway}}
{{Infobox person
| name = Todd Combs
| image =
| image_size =
| birth_name = Todd Anthony Combs
| birth_date = {{Birth date and age|1971|01|27|mf=yes}}
| birth_place = Sarasota, Florida, U.S.
| alma_mater = Florida State University (BS)
Columbia University (MBA)
}}
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.{{Cite web|url=https://www.businesswire.com/news/home/20191223005299/en/GEICO%E2%80%99s-Roberts-Retire-2020-Succeeded-Todd-Combs|title=GEICO's Roberts to Retire at the End of 2020, to Be Succeeded by Todd Combs of Berkshire Hathaway|date=2019-12-23|website=Business Wire|language=en|access-date=2019-12-26}} Alongside Ted Weschler, he is frequently cited as a potential successor of Warren Buffett as the chief investment officer of Berkshire.{{cite news|last=Serwer|first=Andy|title=EXCLUSIVE: Warren Buffett's money managers, Todd Combs and Ted Weschler, speak|url=https://finance.yahoo.com/news/warren-buffetts-money-managers-todd-combs-ted-weschler-speak-142643892.html|accessdate=25 January 2018|publisher=Yahoo! Finance|date=28 April 2017}} In 2016, he was appointed board member of JPMorgan Chase.{{Cite web|url=https://www.reuters.com/article/us-jpmorgan-board/buffett-investing-deputy-combs-joins-jpmorgan-board-idUSKCN11Q1AP|title=Buffett investing deputy Combs joins JPMorgan board|last=Stempel|first=Jonathan|date=2016-09-20|publisher=Reuters|access-date=25 January 2018}}
Early life and education
Todd Anthony Combs was born and raised in Sarasota, Florida attending Riverview High School.{{cite web |last1=MCQUAID |first1=Kevin |last2=Pollick |first2=Michael |title=Sarasotan in line as possible Buffett successor |url=https://www.heraldtribune.com/story/news/2010/10/28/sarasotan-in-line-as-possible-buffett-successor/28975323007/ |website=Herald-Tribune |access-date=2 March 2021}}{{cite news|title=Sarasota native not among Buffett promotions|url=http://www.heraldtribune.com/news/20180110/sarasota-native-not-among-buffett-promotions|accessdate=25 January 2018|publisher=Sarasota Herald Tribune|date=10 January 2018}} 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.{{cite news|title=Buffett Flags a Successor|url=https://www.wsj.com/articles/SB10001424052702303467004575574630162624198|accessdate=27 October 2010|newspaper=Wall Street Journal|date=28 October 2010|author=Susan Pulliam|author2=Serena Ng|url-access=subscription}}{{cite web|last=Shinewald|first=Jeremy|date=October 27, 2010|url=https://www.mbamission.com/blog/2010/10/27/mba-news-cbs-%E2%80%9902-grad-to-manage-berkshire%E2%80%99s-billions/|title=MBA News: CBS '02 Grad to Manage Berkshire's Billions|website=nbamission.com|access-date=October 28, 2010}}{{cite news|last1=Foley|first1=Stephen|title=Warren Buffett's protégés flex investment muscle|url=https://www.ft.com/content/7a6937c4-16cc-11e6-b197-a4af20d5575e|accessdate=12 April 2017|work=Financial Times|publisher=The Financial Times Ltd.|date=18 May 2016}}
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.{{cite web|url=https://www.marketwatch.com/story/photo-of-berkshires-mysterious-man-elusive-2010-10-27|title=Photo of Berkshire's 'mystery man' elusive|date=27 October 2010|last=Barr|first=Alistair|website=MarketWatch|access-date=28 May 2019}}
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.{{cite news|title=Buffett: Combs Is 'a 100% Fit'|url=https://www.wsj.com/articles/SB10001424052702303341904575576373008860754|accessdate=27 October 2010|newspaper=Wall Street Journal|date=28 October 2010|author=Serena Ng|author2=Susan Pulliam|author3=Gregory Zuckerman}} 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.
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.
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.{{Cite web|url=https://www.cnbc.com/2019/12/23/warren-buffett-protege-todd-combs-named-geico-ceo.html|title = Warren Buffett protege Todd Combs named Geico CEO|website = CNBC|date = 23 December 2019}}
References
{{Reflist}}
Further reading
- McDaniel, Kip; Vasan, Paula. "[http://www.ai-ciodigital.com/ai-cio/201012#pg34 Who Is This Man?]", aiCIO, December 2010, pp. 32–35.
{{JPMorgan Chase}}
{{Authority control}}
{{DEFAULTSORT:Combs, Todd}}
Category:American money managers
Category:Columbia Business School alumni
Category:People from Sarasota, Florida
Category:Riverview High School (Sarasota, Florida) alumni