Noah Holdings (NOAH) Names Ching Tao as CEO and Shang-yan Chuang as CFO of Noah US

August 29, 2016 5:02 PM EDT

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Noah Holdings Limited (NYSE: NOAH) today announced the appointment of Mr. Shang-yan Chuang to the position of Chief Financial Officer, replacing Ms. Ching Tao, effective September 1, 2016. At the same time, the Company also announced the appointment of Ms. Ching Tao as Chief Executive Officer of Noah US LLC, Noah's first subsidiary to operate in the United States. Ms. Tao's new appointment will also be effective September 1, 2016.

Mr. 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) Limited, one of our major businesses, and served as its Executive Director and Chief Executive Officer until January 2016. Prior to joining Noah, Mr. Chuang was a senior executive at Bank of America Merrill Lynch in Investment Banking Division and Asia Private Equity from 2003 to 2011 based in Hong Kong. Mr. Chuang graduated Magna Cum Laude with a Bachelor of Science in Finance from Stern School of Business at New York University.

Mr. Kenny Lam, Group President of Noah, commented, "We warmly welcome Shang to Noah's group executive leadership team as our new CFO. Shang has an in-depth understanding of Noah, previously as a leader of one of our major businesses, and a proven track record in financial and business management. 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 United States 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. Ching's experience and expertise will provide tremendous leadership for our US expansion. We firmly believe that Shang and Ching's new roles at Noah will help Noah further strengthen its leading market position."

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