SHANGHAI, Aug. 9, 2012 /PRNewswire-Asia/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH), the leading independent service provider focusing on distributing wealth management products to the high net worth population in China, announced today that one of its PRC subsidiaries has obtained regulatory approval on August 7, 2012 to authorize its business scope to include providing investment advisory, wealth management and related financial services. To reflect this authorized business scope, the Company changed the name of this PRC subsidiary from Shanghai Noah Yuanzheng Investment Co., Ltd. to Shanghai Noah Financial Services Company Limited.
Ms. Jingbo Wang, Noah's Co-founder, Chairwoman of the Board of Directors and Chief Executive Officer, commented, "We believe the regulatory approval is a recognition of our leading position in the industry and the new name of our subsidiary better reflects our overall wealth management business."
ABOUT NOAH HOLDINGS LIMITED
Noah Holdings Limited is the leading independent service provider focusing on distributing wealth management products to the high net worth population in China. Noah distributes over-the-counter wealth management products that are originated in China, including primarily fixed income products, private equity funds and securities investment funds. With 550 relationship managers in 60 branch offices as of June 30, 2012, Noah's total coverage network encompasses China's most economically developed regions where the high net worth population is concentrated. Through this extensive coverage network, product sophistication, and client knowledge, the Company caters to the wealth management needs of China's high net worth population. For more information please visit the Company's website at http://www.noahwm.com.Contacts: Noah Holdings LimitedShang Chuang, Director of IRTel: +86 21 3860 2388 email@example.com SOURCE Noah Holdings Limited