Noah Holdings
Founded in 2007, Noah Holdings is China’s leading wealth management service provider for 2019, focused on global wealth investment and asset allocation services for high net-worth individuals as well as enterprises.
In terms of the numbers, Noah is impressive. Total assets under management of Rmb169.2 billion ($24.5 billion) at the end of last year make it the biggest non-bank wealth management firm in China; net income is Rmb3.3 billion, up 16.4% from 2017.
Noah, which is listed on the New York Stock Exchange, has branches in 83 mainland cities, including Shanghai, Beijing, Guangzhou and Shenzhen, and has overseas business offices in locations including Hong Kong, Vancouver, Silicon Valley, New York, Melbourne and Singapore.
The number of advisers working for Noah is up 18.6% to 1,583 from the previous year. These, in turn, advise almost 237,000 high net-worth individuals, providing them with integrated financial services and helping them to meet a wide range of wealth management needs, from family trusts to tax planning. Among Chinese wealth managers, Noah has built the most comprehensive range of full-service integrated financial services.
Founded by two former investment bankers, Wang Jingbo and Xander Yin Zhe, Noah operates in three segments: wealth management, asset management and internet finance. Its financial planners focus on three of China’s wealthiest regions: the Yangtze River Delta; the Pearl River Delta; and the Bohai Rim, which includes the greater Beijing area and other cities nearby.
Noah serves three types of client: high net-worth individuals; enterprises affiliated with high net-worth individuals; and wholesale clients. Its offers over-the-counter wealth management and over-the-counter asset management products, mutual funds and asset management plans originated in China.
It also offers wealth management and asset management products and services through its subsidiaries in Hong Kong.
In the first quarter of 2019, Noah distributed Rmb28 billion ($4.2 billion) of financial products. Through Gopher Asset Management, its asset management unit, Noah has built up AuM of Rmb171.1 billion, as of March 31, 2019.