Noah Holdings Expands Operations in Asia-Pacific to Meet Rising Demand from Wealthy Chinese Clients

Noah Holdings, one of China’s leading asset managers, is expanding its operations in the Asia-Pacific region to cater to the increasing needs of wealthy Chinese clients looking for global investment opportunities. The company has recently renovated and enlarged its office in Hong Kong, increasing its size by a third to 30,000 square feet at the bustling Times Square in Causeway Bay. Grant Pan Qing, who is the Group CFO and CEO of Noah’s Hong Kong office, noted that the expansion is driven by the demand for additional staff, which is expected to grow by 10 to 15 percent in the near future.

Pan emphasized the importance of Hong Kong in Noah’s strategy for global expansion, explaining that many clients view the city as the initial step on their journey towards international investments. Around 70 percent of the firm’s clientele consists of private entrepreneurs who have benefited from China’s economic growth over the last four decades. As of March, Noah Holdings managed approximately 153.3 billion yuan (US$21.2 billion) in assets, primarily serving high-net-worth Chinese-speaking clients across the globe.

In addition to strengthening its presence in Hong Kong, Noah is also planning to open a new office in Tokyo. This decision comes in response to feedback from mainland clients who have business interests in Japan. The goal is to provide better service on-site and potentially attract Japanese customers as well. Pan noted the strong trading relationship between China and Japan, with significant business ties and a rising number of Chinese tourists visiting Japan as the region shows signs of recovery from the pandemic. Looking ahead, there is also potential for further expansions into other international markets, such as Dubai, but any specific plans for this are yet to be confirmed.