Evercore Co-Founder Beutner Launches Los Angeles Mayoral Bid

Austin Beutner, a former investment banker and superintendent for the Los Angeles Unified School District, announced Monday that he’s running to be LA’s next mayor, challenging fellow Democrat Karen Bass.

Beutner, 65, criticized Bass’s handling of the January wildfires that devastated parts of the city, saying in a campaign video that Los Angeles is “adrift” under her leadership. A former deputy mayor who also served as publisher of the Los Angeles Times, Beutner said local leaders have spent billions and failed to make a dent in the city’s top challenges of housing affordability and unemployment.