Noah Holdings Limited Implements Strategic Changes in Board of Directors Composition
July 4, 2024, 9:43 pm
MakeMyTrip
Location: India, Haryana, Gurugram
Location: United States, Illinois, Chicago
Employees: 5001-10000
Founded date: 1909
In a significant move towards enhancing its corporate governance structure, Noah Holdings Limited, a prominent wealth management service provider catering primarily to Mandarin-speaking high-net-worth investors, has announced a series of changes to its Board of Directors. The company has appointed Mr. David Zhang and Ms. Xiangrong Li as Independent Directors, effective from June 30, 2024. These appointments bring a wealth of financial and legal expertise to the Board, with Mr. Zhang's background in securities offerings and mergers & acquisitions, and Ms. Li's extensive experience in accounting and financial management.
Simultaneously, Dr. Zhiwu Chen has retired from his position as an Independent Director, and Mr. Jinbo Yao has resigned after ten and nine years of service, respectively. The departures were amicable, with the Board expressing gratitude for their invaluable contributions during their tenures. Ms. Li has been appointed as the Chairwoman, while Mr. Zhang joins the Audit Committee, alongside Ms. Cynthia Jinhong Meng. The Board is confident that the addition of Ms. Li and Mr. Zhang will significantly enhance the Audit Committee's capabilities, ensuring the continued upholding of the company's governance standards and the strengthening of its financial operations.
Additionally, Ms. May Yihong Wu has stepped down as a member of the Audit Committee but will retain her positions as an Independent Director, the Chairwoman of the Compensation Committee, and a member of the Corporate Governance and Nominating Committee. Furthermore, Ms. Cynthia Jinhong Meng, an Independent Director, has been appointed as a member of the Corporate Governance and Nominating Committee, effective from June 30, 2024.
The changes in the Board of Directors reflect Noah's commitment to diversity, fresh perspectives, and the highest standards of corporate governance. Ms. Jingbo Wang, co-founder and chairwoman of Noah, expressed gratitude to Dr. Chen and Mr. Yao for their decade-long contributions to the company, highlighting their dedication and guidance in shaping Noah's journey. She extended a warm welcome to Mr. Zhang and Ms. Li, expressing confidence in their extensive financial, corporate, and legal experience in shaping the company's future strategic direction.
Noah Holdings Limited continues to lead in the wealth management sector, offering comprehensive one-stop advisory services on global investment and asset allocation for high-net-worth investors. With a network covering major cities in mainland China, Hong Kong, New York, Silicon Valley, Singapore, and Los Angeles, Noah provides customized financial solutions through a team of 1,109 relationship managers across 18 cities. The company's wealth management business boasts 457,705 registered clients and manages assets under management of RMB153.3 billion (US$21.2 billion) as of March 31, 2024.
For more information on Noah Holdings Limited and its services, visit ir.noahgroup.com. The company remains committed to upholding the highest standards of corporate governance and driving strategic growth in the wealth management industry.
Simultaneously, Dr. Zhiwu Chen has retired from his position as an Independent Director, and Mr. Jinbo Yao has resigned after ten and nine years of service, respectively. The departures were amicable, with the Board expressing gratitude for their invaluable contributions during their tenures. Ms. Li has been appointed as the Chairwoman, while Mr. Zhang joins the Audit Committee, alongside Ms. Cynthia Jinhong Meng. The Board is confident that the addition of Ms. Li and Mr. Zhang will significantly enhance the Audit Committee's capabilities, ensuring the continued upholding of the company's governance standards and the strengthening of its financial operations.
Additionally, Ms. May Yihong Wu has stepped down as a member of the Audit Committee but will retain her positions as an Independent Director, the Chairwoman of the Compensation Committee, and a member of the Corporate Governance and Nominating Committee. Furthermore, Ms. Cynthia Jinhong Meng, an Independent Director, has been appointed as a member of the Corporate Governance and Nominating Committee, effective from June 30, 2024.
The changes in the Board of Directors reflect Noah's commitment to diversity, fresh perspectives, and the highest standards of corporate governance. Ms. Jingbo Wang, co-founder and chairwoman of Noah, expressed gratitude to Dr. Chen and Mr. Yao for their decade-long contributions to the company, highlighting their dedication and guidance in shaping Noah's journey. She extended a warm welcome to Mr. Zhang and Ms. Li, expressing confidence in their extensive financial, corporate, and legal experience in shaping the company's future strategic direction.
Noah Holdings Limited continues to lead in the wealth management sector, offering comprehensive one-stop advisory services on global investment and asset allocation for high-net-worth investors. With a network covering major cities in mainland China, Hong Kong, New York, Silicon Valley, Singapore, and Los Angeles, Noah provides customized financial solutions through a team of 1,109 relationship managers across 18 cities. The company's wealth management business boasts 457,705 registered clients and manages assets under management of RMB153.3 billion (US$21.2 billion) as of March 31, 2024.
For more information on Noah Holdings Limited and its services, visit ir.noahgroup.com. The company remains committed to upholding the highest standards of corporate governance and driving strategic growth in the wealth management industry.