China-focused wealth and asset management company Noah Holdings has appointed Shang-yan Chuang as its new chief financial officer, replacing Ching Tao.
Effective 1 September, Tao will now serve as the chief executive officer of Noah US LLC, the firm’s first subsidiary to operate in the US.
Chuang has more than 13 years of experience in financial services. In March 2011, he joined noah as a Director of Investment Relations and Corporate Development. In 2012, he founded Noah Holdings (Hong Kong) Limited and served as its executive director and chief executive officer until January 2016.
Prior to joining Noah, Chuang was a senior executive at Bank of America Merrill Lynch in the investment banking division and Asia private equity from 2003 to 2011 based in Hong Kong.
Kenny Lam, group president of Noah, says: "We warmly welcome Shang to Noah's group executive leadership team as our new CFO. Shang has an in-depth understanding of Noah, previously as a leader of one of our major businesses, and a proven track record in financial and business management. As the complexity of our businesses grows, Shang can provide highly valuable strategic and financial leadership to the team. At the same time, our expansion in the US with the formation of Noah US LLC, a new initiative led by Ching, marks another key milestone in the Company's history. This new US presence will allow Noah to introduce much more integrated global wealth and asset management services to our clients. Ching's experience and expertise will provide tremendous leadership for our US expansion. We firmly believe that Shang and Ching's new roles at Noah will help Noah further strengthen its leading market position.”