The Chinese wealth manager has hired a private equity veteran to help it further expand its business offshore and beyond third-party product distribution. It has several funds in the pipeline.
Chinese banks may dominate domestic retail fund distribution, but local independents such as Jupai and Noah are making inroads with wealthier clients, and expanding internationally.
The Chinese wealth management firm's president says peer-to-peer lending platforms may not have the financial expertise to select suitable investment products for clients.
The Chinese wealth manager plans to grow its staff by 50% next year and may expand to the UK and US in future. It is also seeking insurance partners, but will cut the number of fund firms it works with.
Chinese IFA Noah Wealth Management has formed a partnership with Swiss private bank UBP in a bid to grow their capabilities and target wealthy Chinese investors' desire for global exposure.