Noah Announces Strategic Cooperation with Union Bancaire Privee to Bolster Global Capabilities
Jul 30, 2015, 06:00 ET
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
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SOURCE Noah Holdings Limited