Noah
Noah has led domestic wealth management firms in terms of global expansion to serve high net-worth overseas Chinese clients. It has made remarkable progress on that front, under co-founder and chief executive Jingbo Wang.
Last year, it opened an office in New York so it could look for asset allocation opportunities in the local market. It has also opened offices in Melbourne and Vancouver. To date, the firm has built up an extensive business network overseas with additional offices in Hong Kong, Taipei, Silicon Valley and Jersey in the Channel Islands.
It has received licences from local regulatory authorities to provide a broad range of services outside China. They include licences to deal in securities, advisory services for securities, asset management, insurance brokerage, family trusts, and money lending in Hong Kong; registered investment advisor (RIA) and insurance brokerage licences in the US; and a family trust licence in Jersey in the Channel Islands.
Noah has also formed a global task force to manage overseas assets. The firm’s core management team is made up of veteran asset managers recruited from global consultancies and banks including McKinsey, Temasek, Morgan Stanley, Merrill Lynch, ABN Amro and UBS.
Thanks to its expanding service network and strong expertise, Noah has achieved sustainable and robust growth for its overseas asset management business.
The annual compound growth rate of Noah’s overseas assets under management in the last four years reached 77%. By the end of 2017, the firm’s overseas AuM reached $3.3 billion and accounted for 20% of its total AuM.