SHANGHAI, March 16, 2015 /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 Kenny Lam to be Group
President effective immediately. He will oversee Noah's operational
and management functions and key strategic initiatives. He will
report directly to Ms. Jingbo Wang,
Chairman and Chief Executive Officer of Noah.
"I am excited to have Kenny join Noah's executive leadership
team as he brings a wealth of experience and knowledge of the
financial services sector," said Ms. Jingbo
Wang, Founder, Chairman of the Board of Directors, and Chief
Executive Officer. "Kenny's professional expertise in strategic
planning, new management and operational approaches, and his deep
familiarity with our business and strategy make him the ideal
candidate to help our businesses grow and achieve our long term
goals. He has shown a longstanding and tireless commitment to Noah
through his leadership of the McKinsey team serving Noah for
multiple years. I will partner with Kenny and will focus on driving
new business development and key strategic initiatives. We believe,
together with the entire team, we will bring Noah to new levels of
success."
Mr. Lam brings 14 years of experience in strategic, operational
and management transformations in the financial industry. He was a
Global Senior Partner at McKinsey and a co-leader of its Asia
Financial Service Practice, covering 13 markets across Asia. He was the fastest rising Partner in
McKinsey Asia when elected as a Global Partner within six years
from his entry to McKinsey. Under his leadership, McKinsey's
private, retail and digital banking practices have more than
tripled their client activities. He has led transformational
programs for leading financial institutions across Mainland China, India,
Taiwan, Singapore, Hong
Kong, Korea and Japan on a
wide range of strategic, financial and operational topics and is
McKinsey's expert on private banking and wealth management. He has
worked with governments and regulators on private banking strategy
in the key offshore hubs of Asia.
At McKinsey, he was also the Chairman of its people performance
review committees, overseeing the review of Greater China's more than 200
professionals.
Before McKinsey, he was with American law firm Shearman &
Sterling in New York and
Hong Kong, counseling
multinational corporations in various M&A transactions and
NYSE/Nasdaq public offerings.
Mr. Lam graduated with a MA (Honours) in Law from Oxford University and magna cum laude with a BS in
Finance from the Wharton School of the University of Pennsylvania, where he was a Joseph
Wharton Scholar and a Benjamin Franklin Scholar.
ABOUT NOAH HOLDINGS LIMITED
Founded in 2005, Noah Holdings Limited (NYSE: NOAH) is a leading
wealth management service provider with a focus on global wealth
investment and asset allocation services for high net worth
individuals and enterprises in China. Noah distributed US$10.3 billion of wealth management products in
2014 and had a total of US$8.1
billion of assets under management as of December 31, 2014.
Noah distributes a wide array of wealth management products
including fixed income products, private equity funds, mutual funds
and insurance products. Noah also manages private equity funds,
real estate funds, hedge funds, and other assets through Gopher
Asset Management. In addition, in the second quarter of 2014, the
Company launched a self-developed internet finance platform to
provide financial products and services to white-collar
professionals in China. Noah
delivers customized financial solutions to clients through a
network of 779 relationship managers across 94 branches and
sub-branches in 63 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 70,557 registered clients as of
December 31, 2014 and 9,010 active
clients in 2014.
Noah has won numerous awards including Hurun Report's Popular
Independent Wealth Management Institution award in 2013 and 2014,
Forbes' Best Potential Business in China award in 2015, Deloitte's Technology
Fast 500 Asia Pacific award in 2013, and STCN's Best Third Party
Wealth Management Company award in 2014.
For more information please visit Noah 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. Among
other things, the outlook for the full year 2014 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.
Contacts:
Noah Holdings Limited
Ke-Li Cheng, Officer of IR
Tel: +86 21 2510 0889
ir@noahwm.com
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SOURCE Noah Holdings Limited