SHANGHAI, April 12, 2016 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH), China's leading wealth and asset management service provider, focusing on global wealth investment and asset allocation services for high net worth individuals and enterprises in China, today announced the appointment of Mr. PV Wang to the position of Co-Chief Investment Officer ("CIO") for Noah Holdings (Hong Kong) Limited ("Noah Hong Kong"), Noah's international operations. Mr. PV Wang will be Co-CIO with Mr. William Ma and together they will lead all of Noah's international investments. Mr. Wang will also be a Partner in Gopher Asset Management, the asset management subsidiary of Noah.
"We are very excited to have PV on board. He brings more than 20 years of experience in global private equity investments, most recently as Partner and member of the global investment committee at Adams Street Partners. Alongside William Ma, a globally recognized leader in public markets and hedge fund investments who joined us from his previous role as Founding Partner of Gottex Fund Management in Asia, PV will help take our international platform to a new level of success," remarked Kenny Lam, Group President of Noah Holdings Limited.
Noah Hong Kong is the Company's international division and is licensed with the Hong Kong Securities and Futures Commission. It has over 90 professional staff that serve the global investment needs of high net worth Chinese individuals. Noah Hong Kong has seen tremendous growth in recent years as high net worth Chinese have sought to diversify their asset allocation. Attracting global talent is an important component of Noah's strategy to strengthen its asset management capabilities.
Mr. Wang joins Noah with 20 years of experience in global private equity investments. In the course of his career, he deployed more than US$3 billion of capital across 80-plus transactions globally. Mr. Wang was most recently a Partner at Adams Street Partners and a member of its global investment committee. Prior to Adams Street, he was an investment manager at Nikko Capital Singapore.
ABOUT NOAH HOLDINGS LIMITED
Founded in 2005, Noah Holdings Limited (NYSE: NOAH) is a leading wealth management services provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China. In 2015, Noah distributed over RMB990.0 billion (US$15.8 billion) of wealth management products. As of December 31, 2015, Noah's subsidiary Gopher Asset Management had assets under management of RMB86.7 billion (US$13.6 billion).
Noah distributes a wide array of wealth management products, including fixed income products, private equity fund products, mutual fund products and insurance products. Noah also develops and manages financial products denominated in both domestic (Renminbi) and foreign currencies, covering real estate funds and funds of funds, including private equity funds, real estate funds, hedge funds and fixed income funds through Gopher Asset Management. In addition, in 2014, the Company launched a proprietary internet finance platform to provide financial products and services to aspiring high net worth individuals and enterprise clients in China. Noah delivers customized financial solutions to clients through a network of 1,098 relationship managers across 135 branches and sub-branches in 67 cities in China, and serves the international investment needs of its clients through a wholly owned subsidiary in Hong Kong. The Company's wealth management business had 99,019 registered clients as of December 31, 2015.
Noah has won numerous awards and recognition, including top 5 in Fortune's list of Fastest-Growing Companies in 2015, Forbes' Best Potential Business in China award in 2015, STCN's Best Third Party Wealth Management Company award in 2014, Hurun Report's Popular Independent Wealth Management Institution award in 2013 and 2014, and Deloitte's Technology Fast 500 Asia Pacific award in 2013.
For more information please visit Noah at ir.noahwm.com.
SAFE HARBOR STATEMENT
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, the outlook for the Noah International and quotations from management in this announcement, as well as Noah's strategic and operational plans, contain forward-looking statements. Noah may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Noah's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its goals and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth management market in China and internationally; its expectations regarding demand for and market acceptance of the products it distributes; its expectations regarding keeping and strengthening its relationships with key clients; relevant government policies and regulations relating to its industry; its ability to attract and retain quality employees; its ability to stay abreast of market trends and technological advances; its plans to invest in research and development to enhance its product choices and service offerings; competition in its industry in China and internationally; general economic and business conditions in China; and its ability to effectively protect its intellectual property rights and not infringe on the intellectual property rights of others. Further information regarding these and other risks is included in Noah's filings with the Securities and Exchange Commission, including its annual report on Form 20-F. Noah does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and Noah undertakes no duty to update such information, except as required under applicable law.
Noah Holdings Limited
Noah Holdings Limited
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SOURCE Noah Holdings Limited