Michael Katchen
| Michael Katchen | |
|---|---|
| Born | |
| 🎓 Alma mater | University of Western Ontario |
| 💼 Occupation | |
| Known for | CEO and founder of Wealthsimple |
Michael Katchen is a Canadian entrepreneur. In 2014 he founded Wealthsimple, an online investment management service focused on millennials.
Life and career[edit]
Katchen grew up in Toronto.[1] His grandfather and parents all happened to be entrepreneurs. Katchen beleives that fact has left an entrepreneuring spirit in him.[2] As an undergraduate student, he attended at the University of Western Ontario, there he studied first two years at Huron University College and last two years at the Ivey Business School. He graduate from Western at 2009 with a HBA degree.[3][4]
Katchen relocated himself at United States to start his career at McKinsey & Company. After that he has also worked for 1000Memories a Silicon Valley-based startup. After Ancestry.com bought 1000Memories in 2012, Katchen did develope a spreadsheet with tips to help his colleagues set up investment portfolios. During this time he developed the idea for Wealthsimple. In 2014, he returned to Toronto and launched the company.[5][6][7] He won 2016 Ernst & Young Entrepreneur of the Year Award. At the same year, he was also placed 38th in Toronto’s 50 Most Influential by Toronto Life.[8] [9]
In 2017, he adviced young people against buying home saying it a "terrible investment", his opinion has been supported and opposed by experts. [10] In 2020 he said that, Wealthsimple will launch a hybrid spending and savings account with no fees that appears to put the online financial advisory platform one step closer to competing with Canada's big banks.[11]
References[edit]
- ↑ Michael Katchen Believes Everyone Should Have the Same Starting Line Wealthsimple
- ↑ Michael Katchen interview Frank and Oak
- ↑ "Huron Distinctions - Alumni Magazine". No. Fall 2016.
- ↑ Alumni named Top 40 Under 40 Western University
- ↑ Profile:-Michael Katchen Lavin Agency
- ↑ Wealthsimple veut prendre de l’expansion à l’étranger Le Devoir
- ↑ Casey, Quentin (10 April 2015). "Wealthsimple aims to turn financial services industry on its head with new low-cost approach to investing" (FP Startups). Canada: Financial Post. Postmedia Network Inc. Retrieved 27 March 2017.
- ↑ Toronto’s 50 Most Influential: #38, Michael Katchen Toronto Life
- ↑ At 29 Years Old, Michael Katchen Raises Another $37M In New Series B Funding Forbes
- ↑ 29-year-old CEO who manages $1 billion warns young people: Buying a home can be a ‘terrible investment’ CNBC
- ↑ Wealthsimple one step closer to competing with banks after launch of no-fee account Financial Post
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