Jamie Dimon\u2019s JPMorgan Chase just unveiled a list of business leaders and retired government officials that will make up a new advisory team to guide the investment bank\u2019s $1.5 trillion national security initiative.\u00a0<\/p>\n
The external advisory council, announced<\/a> on Monday, features prominent tech business leaders Jeff Bezos and Michael Dell as well as Ford CEO Jim Farley, alongside a number of national security and defense experts.\u00a0<\/p>\n JPMorgan Chase<\/a>announced<\/a> its national security push\u2014coined the Security and Resilience Initiative (SRI)\u2014in October by saying it would first invest up to $10 billion in direct equity and venture capital to companies it characterizes as paramount to U.S. national security.<\/p>\n Dimon also said<\/a> on Monday he poached one of Warren Buffett\u2019s personally selected investors to head the investment fund starting in January.<\/p>\n Both of the announcements are initial steps to realizing the company\u2019s national security pledge, which will span the next 10 years.<\/p>\n The council will be chaired by Dimon himself, and will \u201cconvene periodically\u201d to \u201chelp spur growth and innovation in industries critical to the United States\u2019 national security and economic resiliency,\u201d the company said in its press release.<\/p>\n \u201cWe are humbled by the extraordinary group of leaders and public servants who have agreed to join our efforts as senior advisors to the SRI,\u201d Dimon said in the Monday announcement. \u201cWith their help, we can ensure that our firm takes a holistic approach to addressing key issues facing the United States\u2014supporting companies across all sizes and development stages through advice, financing and equity capital.\u201d<\/p>\n Here is a list of the advisory council members:\u00a0<\/p>\n Business leaders<\/strong><\/p>\n Bezos previously partnered with Dimon and Warren Buffett on the not-for-profit Haven health care venture<\/a> in 2018, which was backed by Amazon, JPMorgan, and Berkshire Hathaway<\/a>. Dimon has said<\/a> the two \u201chit it off\u201d in 1999, and Bezos even discussed hiring Dimon as Amazon\u2019s president before Dimon chose to stay in banking.<\/p>\n Dell worked closely with Dimon and JPMorgan when the bank led the multibillion\u2011dollar financing for Dell\u2019s $67 billion takeover<\/a> of tech giant EMC in 2015, at the time the largest tech deal ever.<\/p>\n Farley has publicly warned about U.S. dependence on China for chips and rare earths, arguing it is a strategic vulnerability. In a third-quarter earnings call<\/a> in October, he told investors he had discussed these issues with U.S. officials as a chip shortage caused by China threatened to impact the automaker.\u00a0<\/p>\n Gorsky, most recently the company\u2019s former executive chairman<\/a>, oversaw the company\u2019s expansion and helped steer J&J through the COVID\u201119 vaccine rollout as CEO.<\/p>\n Novakovic previously worked in the U.S. government<\/a> in roles at the Central Intelligence Agency and the Department of Defense before moving to the private sector in 2001. After working her way up at General Dynamics, she now heads one of the Pentagon\u2019s major defense contractors.<\/p>\n Combs is a longtime Berkshire Hathaway investment manager and CEO of Geico who left Geico this week<\/a> and is leaving his Berkshire role<\/a> as well to lead JPMorgan Chase\u2019s SRI Strategic Investment Group and join the advisory council in early 2026. For years, he was one of Warren Buffett\u2019s top stock pickers.<\/p>\n Ryan<\/a> is a partner at private equity firm Solamere Capital and formerly served as Speaker of the U.S. House of Representatives from 2015 to 2019, where he was a key figure on fiscal and economic policy. He previously chaired both the House Budget Committee and the Ways and Means Committee, making him a central Republican figure on fiscal and economic policy and tax legislation.<\/p>\n National security experts<\/strong><\/p>\n Rice<\/a> is a former U.S. secretary of state under George W. Bush from 2005 to 2009 and, prior to that, was national security adviser. She played a central role in U.S. foreign policy and national security decision-making in the 2000s.<\/p>\n Gates<\/a> is a former CIA director under former President George H.W. Bush from 1991 to 1993 and former U.S. secretary of defense, with a long career in national security and intelligence under both Republican and Democratic presidents.<\/p>\n Cavoli<\/a> is a retired U.S. Army general who most recently served as Supreme Allied Commander Europe and Commander of U.S. European Command, overseeing NATO forces and U.S. military operations in Europe.<\/p>\n Dunwoody is a retired four\u2011star general and former commanding general of U.S. Army Materiel Command. She\u2019s the first woman in U.S. history<\/a> to achieve the rank of four\u2011star general.<\/p>\n\n
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