Exclusive | Chinese money manager Noah expands Hong Kong office, eyes Japan to meet clients’ demand
- Hong Kong is crucial to Noah’s globalisation plans, as many of its customers see the city as the first stop in their globalisation journey, CFO Grant Pan Qing says
Noah Holdings, one of China’s largest asset managers, is expanding its Asia-Pacific operations to meet the growing demand from its wealthy Chinese clients who want to invest globally. The move entails boosting its Hong Kong office and opening one in Japan, according to a top executive.
The Shanghai-headquartered money manager recently renewed and expanded its Hong Kong office by a third to 30,000 sq feet in Times Square, Causeway Bay, a tourist hotspot.
The extra space is needed to accommodate another 10 to 15 per cent of staff the company plans to hire soon, said Grant Pan Qing, group CFO and CEO of Noah’s Hong Kong office.
“Hong Kong is crucial to Noah’s globalisation plans. Many of our customers continue to say that their first stop in the journey is Hong Kong,” Pan said in an interview with the Post.
“Seventy per cent of Noah’s clients are private entrepreneurs – manufacturers, importers and exporters – who have grown their businesses over the past four decades riding on China’s economic reform.”
Founded in 2005, Noah listed on the New York Stock Exchange in 2010 and in Hong Kong in 2022. The wealth management firm had 153.3 billion yuan (US$21.2 billion) of assets under management as of March, predominantly serving high-net-worth Chinese-speaking customers worldwide.
It has more than 1,100 relationship managers serving 450,000 clients, offering them investments in private equity, stocks and real estate among others.
