Noah Holdings
From Wikipedia, the free encyclopedia
 | |
Native name | 諾亞控股有限公司 |
|---|---|
| Company type | Public |
| Industry | Financial services |
| Founded | August 2005 |
| Founders |
|
| Headquarters | , |
Key people |
|
| Products | |
| Revenue |  US$359.12 million (FY2024) |
| US$86.84 million (FY2024) | |
| US$66.72 million (FY2024) | |
| AUM | US$20.8 billion (FY2024) |
| Total assets | US$1.61 billion (FY2024) |
| Total equity | US$1.36 billion (FY2024) |
Number of employees | 1,990 (FY2024) |
| Subsidiaries | Gopher Asset Management |
| Website | noahgroup |
| Footnotes / references [1] | |
Noah Holdings (Noah; Chinese: 諾亞控股; pinyin: Nuòyǎ Kònggǔ) is a Chinese financial services company headquartered in Shanghai, China. It is the largest independent wealth management company in China.[2][3]
Wang Jingbao worked in the private banking division of Xiangcai Securities. In August 2005, she and her colleague Yin Zhe lead a management buyout of the division. The division was spun out as an independent company and was renamed to Noah. The company was launched with 3 million RMB in capital and worked out of a small office on Shanghai furnished with second-hand furniture purchased from an online market.[4][2][5][6][7][8]
In 2007, Noah accepted an investment from Sequoia Capital.[4][2][6]
In March 2010, Noah set up its asset management subsidiary, Gopher Asset Management which specialized in fund of funds management of alternative investments.[4][5][6]
On 10 November 2010, Noah held an initial public offering on the New York Stock Exchange for $12 apiece. The stock climbed 33% to nearly $16 on its first day.[4][2][8][9]
In early 2012, Noah launched its overseas expansion. It first set up an office in Hong Kong then set up additional offices in Taiwan, Silicon Valley, New York and Singapore.[4][6]
In October 2016, Sequoia Capital acquired a $52 million stake in Gopher Asset Management. In October 2017, Noah bought back Sequoia's stake.[10][11]
In July 2022, Noah was cross-listed on the Hong Kong Stock Exchange.[4]
Wang being a devout Christian named the company after Noah's Ark. Gopher Asset Management was named after Gopher wood which was used to build Noah's Ark.[5]
Initially Noah was mainly a distributor of financial products where it sold wealth management products developed by other institutions to high-net-worth individual clients for a commission fee. However it later formed its own investment products to sell.[6][7]