SHANGHAI, Dec. 24, 2013
/PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company")
(NYSE: NOAH), a leading wealth management service provider focusing
on distributing wealth management products to the high net worth
population in China, today
announced that the Company has appointed Mr. Zhiwu Chen as an independent director to its
board, effective from December 13,
2013. Mr. Chen will also join the Company's corporate
governance and nominating committee, replacing Mr. Ji Liu, who resigned from the board of directors
of the Company, effective December 13,
2013. All other directors on the board of the Company will
remain unchanged.
Mr. Chen has been a professor of finance at Yale University since July
1999, and has served as an independent non-executive
director of the Bank of Communications since November 2010 and an independent director and a
member of the compensation committee of Lord Abbett China Asset
Management Co., Ltd. since August
2006. Mr. Chen is currently a director and first portfolio
manager of Zebra Hedge Fund and a member of the advisory board at
Milestone Capital Management Limited. From 2011 to 2012, Mr. Chen
served as an independent director of Jiayuan.com International
Ltd., a Nasdaq listed company. Mr. Chen received his doctorate
degree in financial economics from Yale
University in 1990. He received his master's degree from
National University of Defense
Technology (formerly known as Changsha Institute of Technology,
China) in 1986 and his bachelor's
degree from China's Central South
Industry University in 1983.
Ms. Jingbo Wang, co-founder,
chairwoman of the board of directors and chief executive officer,
commented, "On behalf of the entire board of directors, I am proud
to welcome Mr. Zhiwu Chen as our
independent director. Mr. Chen will bring significant experience
and insights on China's macro
economy and financial industry development. We believe that his
expertise will bring valuable contribution to the Company and we
look forward to working closely with him. We would also like to
express our sincere thanks to Mr. Ji
Liu for the invaluable support he has provided to Noah
during the last two years."
ABOUT NOAH HOLDINGS LIMITED
Noah Holdings Limited is a leading wealth management service
provider focusing on distributing wealth management products to the
high net worth population in China. Noah distributes wealth management
products, including primarily fixed income products, private equity
funds, private securities investment funds and mutual funds. Noah
is also equipped with asset management services capability,
managing its own fund of funds and real estate fund products. With
over 500 relationship managers in 56 branch offices as of
June 30, 2013, Noah's total coverage
network encompasses China's most
economically developed regions where the high net worth population
is concentrated. Through this extensive coverage network, product
sophistication, and client knowledge, the Company caters to the
wealth management needs of China's
high net worth population. For more information please visit the
Company's website at http://www.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. 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. 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.
SOURCE Noah Holdings Limited