A tale of two wealth managers: Noah’s shift to offshore clientele gathers pace

By Stanley Yupu Li , senior reporter | 28 November 2024 | 3 minutes read
Photo by Elias Null on Unsplash

The international expansion of Chinese wealth manager Noah Holdings appears to be gaining momentum as its onshore business continues to suffer. Shanghai-based, Nasdaq-listed Noah reported net revenue of RMB683.7 million (US$97.4 million) in 3Q2024, a 8.8% YoY decline. This was due to a 33.0% YoY decrease in net revenues from mainland China to RMB306.8 million, which was partially offset by…

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