Complex sentence: Wallace was born in Birmingham, Alabama, and attended Emory University and University of North Carolina, Chapel Hill, studying business; however, he did not graduate, instead took a job with a trading company in Nagoya, Japan.
Split into simpler sentences: Wallace was born in Birmingham, Alabama, and attended Emory University and University of North Carolina, Chapel Hill, studying business. He did not graduate from college; instead took a job with a trading company in Nagoya, Japan.