Noah Holdings, the China-based wealth manager, has appointed a new chief operating officer as the latest in a string of expansionary moves.
Harry Tsai was an executive vice president of Yuanta Securities of Taiwan, the retail brokerage company, since 2008. Prior to that, he was COO of ABN AMRO China. He brings 22 years of industry experience to his new role.
Noah Holdings has over 500 relationship managers across 53 branch offices distributing over-the-counter wealth management products from China, including fixed income products, private equity funds and securities investment funds.
The wealth management firm has been actively expanding both locally and worldwide, launching an initial public offering for US investors in late 2010 and then extending its board of directors roster to nine in 2011.
"We made significant progress in broadening our client engagement. We will continue to focus on client breadth by entering new markets and distributing quality products that meet the needs of our clients," said Wang in the firm's latest earnings release.
Noah was established in 2005 and has since then distributed some $800 million worth of wealth management products in aggregate.