Chinese wealth and asset management services provider Noah Holdings has announced a new Chief Executive to its U.S. subsidiary and appointed a new Chief Financial Officer.
Shang-yan Chuang will take up the position of Chief Financial Officer (CFO), replacing Ching Tao, effective September 1, 2016. At the same time, the company also appointed Ching Tao as Chief Executive Officer (CEO) of Noah US LLC, Noah's first subsidiary to operate in the United States. Tao's new appointment will also be effective September 1, 2016.
Shang-yan Chuang has more than thirteen years of experience in financial services. In March 2011, he joined Noah as a Director of Investment Relations and Corporate Development. In 2012, he founded Noah Holdings (Hong Kong), one of the firms major businesses, and served as its Executive Director and Chief Executive Officer until January 2016.
U.S. Business a Key Milestone
Prior to joining Noah, Chuang was a senior executive at Bank of America Merrill Lynch in the Investment Banking Division and Asia Private Equity from 2003 to 2011 based in Hong Kong.
«As the complexity of our businesses grows, Shang can provide highly valuable strategic and financial leadership to the team. At the same time, our expansion in the U.S. with the formation of Noah US LLC, a new initiative led by Ching, marks another key milestone in the Company's history. This new US presence will allow Noah to introduce much more integrated global wealth and asset management services to our clients,» said Kenny Lam, Group President of Noah.
As of June 30, 2016, Noah had assets under management of $15.2 billion.
