Earlier this month, Noah officials announced that they had set up a Jersey managed trust and opened a Silicon Valley office. According to a spokesman, the US office is located in Menlo Park, California.
Replacing Ching as CFO is Shang-yan Chuang. Both appointments are effective September 1.
Shang-yan Chuang joined Noah in 2011 as a director of investment relations and corporate development, the firm said in a statement. In 2012, he founded the firm’s Hong Kong office and served as executive director and CEO until January.
Prior to joining Noah, Chuang was a senior executive at Bank of America Merrill Lynch’s investment banking division and Asia private equity from 2003 to 2011, based in Hong Kong.
“As the complexity of our businesses grows, Shang can provide highly valuable strategic and financial leadership to the team,” said Kenny Lam, group president, in the statement.
“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.”
Shanghai-based Noah has 175 branches and sub-branches in China as well as an office in Hong Kong. It listed on the NYSE in 2010.