NOAH announces change of Chief Executive Officer

Company separates CEO and chairperson roles to improve corporate governance Mr. Zhe Yin appointed as CEO; Ms. Jingbo Wang to remain as Chairwoman
PRNewswireJanuary 2, 20248 min

Noah Holdings Limited, a leading wealth management service provider in China offering comprehensive global investment and asset allocation advisory services primarily for high-net-worth investors, announced that its Board of Directors (the “Board”) has approved a separation of the chief executive officer and chairperson roles. Mr.¬†Zhe Yin, co-founder and director of the Company and chairman of Gopher Asset Management Co., Ltd., has been appointed as the chief executive officer of the Company, effective¬†December 29, 2023, to succeed Ms.¬†Jingbo Wang, who will remain as the chairwoman of the Board and the chairwoman of the Company’s corporate governance and nominating committee. The decision to separate the roles of the chief executive officer and chairperson was taken for the purpose of achieving better corporate governance pursuant to the Corporate Governance Code as set out in Appendix 14 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, specifically code provision C.2.1, and reflects the Company’s commitment to adhering to corporate governance best practices.

Mr. Yin is one of the founders of the Company and has been a director since¬†June 2007. Mr. Yin is a highly accomplished senior executive in the wealth and asset management industry with over 22 years of professional experience and possesses an in-depth understanding of the Company’s operations and culture. He has been serving as the chairman of Gopher Asset Management Co., Ltd. (“Gopher Asset Management”), one of the Company’s consolidated affiliated entities, since¬†March 2021, and served as the chief executive officer of Gopher Asset Management from¬†April 2014¬†to¬†March 2021¬†and as the chairman of Gopher Asset Management from¬†February 2010¬†to¬†April 2014.

Prior to co-founding Noah, Mr. Yin worked at Xiangcai Securities Co., Ltd. from November 2003 to September 2005 as a deputy general manager of the private banking department. From July 1997 to October 2003, Mr. Yin served as various positions at Bank of Communications Co., Ltd. Shanghai Branch, with his last position as the foreign exchange product manager of private finance division. From August 2021 to September 2022, Mr. Yin served as a director of Dalian Zeus Entertainment Co., Ltd , the shares of which are listed on the Shenzhen Stock Exchange (stock code: 002354). From November 2017 to June 2021, Mr. Yin served as an independent director of Guizhou Xinbang Pharmaceutical Co., Ltd, the shares of which are listed on the Shenzhen Stock Exchange (stock code: 002390).

Mr. Yin served as a co-chairman of the Fund of Funds Professional Committee of the Asset Management Association of¬†China¬†from 2017 to¬†August 2021. Mr. Yin has repeatedly been named among the most influential private equity investors in¬†China¬†by respected industry organizations. For instance, he was named one of the Top 20 China’s Best Private Equity Investors in 2017 and one of the Top 50 China’s Best Private Equity Investors in 2019, respectively, by ChinaVenture Investment Consulting., Ltd., a leading financial services technology enterprise in¬†China’s¬†private equity investment industry. In addition, he was honored as one of the Most Influential Investors in¬†China’s¬†VC/PE Fund Limited Partner Market 2021 selected by Zero2IPO Group, a leading venture capital and private equity service provider and a well-known investment firm in¬†China.

Mr. Yin received his MBA degree from China Europe International Business School in¬†Shanghai, China, in¬†September 2010¬†and his bachelor’s degree in economics from¬†Shanghai¬†University of Finance and Economics in¬†Shanghai, China, in¬†July 1997.

Ms. Wang commented, “This strategic move underscores our commitment to enhancing corporate governance, fostering talent development, and facilitating leadership succession planning. Mr. Yin’s alignment with our company values and culture, coupled with his instrumental role in building our Gopher Asset Management franchise, positions him as the ideal candidate to lead the Company as the CEO. Under Mr. Yin’s leadership, I am confident that Noah will continue to execute our growth initiatives and create substantial value for our clients and shareholders. As the chairwoman of the Board, I look forward to supporting Mr. Yin in his new role while continuing to oversee the Company’s strategic planning, board activities, and corporate governance.”

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