J.P. Morgan Chase & Co. on Tuesday said it named Berkshire Hathaway Inc. investment manager Todd Combs to its board, bringing into the fold an heir-apparent of billionaire investor Warren Buffett's enterprise.

Mr. Combs, 45 years old, is a former hedge-fund manager who began working at Berkshire in 2011. He and a counterpart, Ted Weschler, manage portfolios of about $9 billion each, but they will take over all stock-picking duties when Mr. Buffett is no longer running the firm.

Mr. Buffett, Berkshire's chairman, is widely regarded as a legendary investor, and many follow his holdings obsessively.

Mr. Combs previously ran Castle Point Capital, an investment partnership he founded in 2005.

Write to Joshua Jamerson at joshua.jamerson@wsj.com

(END) Dow Jones Newswires

September 20, 2016 08:15 ET (12:15 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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