On the heels of fresh funding, unicorn Addepar is hiring globally
Addepar, which provides wealth managers with software, is planning to hire 100 new roles outside of the US in areas including engineering, research, and customer service. Demand for the startup — which raised $150 million in June — shows just how quickly the wealth-management business is growing. Get the full rundown here.
Jaime Blaustein, a former investment-banking analyst at Credit Suisse, is in long-term recovery from substance abuse. After years of drug use and arrests — and several residential-treatment stays — Blaustein is focusing on helping others achieve recovery, too. Read more about his story.
As China expands its edutech crackdown, a Chinese education executive is losing billions
Larry Chen was once one of the world’s richest people, after founding online-tutoring company Gaotu Techedu Inc. But China’s corporate crackdown on education companies has decimated his fortune. Plus, as the crackdown expands, Cathie Wood’s Ark Invest is rapidly shedding Chinese stocks. Here’s what you need to know.
Chinese companies listed in the US must disclose the potential for government interference
US-listed Chinese companies could be at risk of violating the law if they don’t disclose potential risks of Chinese government intervention, SEC Commissioner Allison Lee said. Lee’s comments come as scrutiny of Chinese IPOs builds in the US after some, including Didi, have plummeted.
On our radar:
- Aon and Willis Towers have scrapped their $30 billion merger, according to the WSJ.
- Per the NYT, as young professionals re-evaluate their work-life balance, Wall Street’s promise of big pay and long hours is becoming less attractive.
- The WSJ reports that a hot used-car market is a huge opportunity for big lenders.
- M&T Bank will cut 747 jobs following People’s United takeover, according to Banking Dive.
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