Yao Zeng is assistant professor of finance at the Wharton School. His research focuses on the intersection of asset pricing and corporate finance with a focus on financial intermediation. Currently, he is exploring the interplay between banks and various non-banks, including mutual funds, ETFs, and FinTech lending and payment service companies that all behave more like banks post-crisis, and the financial stability and macroeconomic implications. He received his Ph.D. in Economics from Harvard University in 2016.