SHANGHAI, July 30, 2015 /PRNewswire/ -- Noah Holdings
Limited ("Noah") (NYSE: NOAH), 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, announced today a new strategic
cooperation with Union Bancaire Privée, UBP SA ("UBP"), one of
Europe's largest private banks and
asset managers.
The cooperation agreement will enable Noah to grow its global
capabilities in research and product design and UBP to increase its
reach in the Chinese wealth management market. Under the agreement,
Noah will gain access to UBP's research databases and approved fund
managers lists, multi-manager and hedge fund advisory teams, and
investment specialists. It is one of a number of initiatives Noah
is undertaking to accelerate growth in its global
business.
In recent years, Noah has seen the global needs of its clients
grow at an unprecedented rate. The volume of global product sales
and global asset allocation conducted through Noah's Hong Kong subsidiary increased by 262%
quarter-on-quarter and 751% year-on-year in the first quarter of
2015, while Noah Hong Kong's volume in the same period exceeded
that for the entire year of 2014. In light of such explosive
growth, Noah is taking steps to rapidly build its
capabilities.
Ms. Jingbo Wang, Noah's Chairman
and CEO, said, "This strategic cooperation is one of a number of
steps we are taking to ensure we have the best global wealth
management platform in China. UBP
has deep expertise in sought-after fields such as hedge fund
selection. Its strong private banking heritage and asset management
proficiency ensure that its investment solutions are geared towards
high net worth individuals' needs."
Nicolas Faller, co-CEO of UBP
Asset Management, said, "We trust we have the right investment
solutions for Chinese high net worth individuals. Noah is the most
successful wealth manager in China -- a key market for
us -- with assets under management that are growing
exponentially, and we are very happy to combine our strengths in
order to provide their private clients with high-quality
products."
Kenny Lam, Noah's Group
President, said, "We look forward to this collaboration as another
important milestone in the ongoing development of our global
capabilities, allowing us to better serve the needs of our
customers. We are committed to being the best global
China-based wealth manager."
ABOUT UNION BANCAIRE PRIVEE
UBP is one of the world's best capitalized banks and one of
Europe's largest pure-player
wealth and asset managers, with assets under management close to
USD 100 billion. It has developed a
strong asset management business, offering top-quality products in
both the alternative and long-only segments. For more
information please visit www.ubp.com.
ABOUT NOAH HOLDINGS LIMITED
Founded in 2005, Noah Holdings Limited 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. From its founding to March 31, 2015, Noah distributed over
US$33.0 billion of wealth management
products. As of March 31, 2015,
Noah had assets under management of US$9.4
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 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 proprietary internet
finance platform to provide financial products and services to
white-collar professionals and enterprise clients in China. Noah delivers customized financial
solutions to clients through a network of 834 relationship managers
across 112 branches and sub-branches in 64 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 74,895 registered clients as of
March 31, 2015.
Noah has won numerous awards, including 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 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 success of the cooperation arrangement with
UBP, 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 U.S. Securities and Exchange Commission, including
its annual reports on Form 20-F. All information provided in this
press release is as of the date of this press release, and Noah
does not undertake any obligation to update any such information,
including forward-looking statements, as a result of new
information, future events or otherwise, except as required under
applicable law.
Contacts:
Noah Holdings
Limited
ir@noahwm.com
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SOURCE Noah Holdings Limited