Published by WealthBriefingAsia – 18th March 2015
The Chinese wealth management house has appointed a former McKinsey man as its group president.
Noah Holdings, the Chinese wealth and asset management firm, has appointed Kenny Lam to be group president. He was previously a global senior partner at McKinsey and he takes up his new role immediately.
Lam will oversee Noah’s operational and management functions and key strategic initiatives. He will report directly to Ms. Jingbo Wang, chairman and chief executive, it said in a statement yesterday.
Lam brings 14 years of experience in strategic, operational and management transformations in the financial industry. As part of his role at McKinsey, he was co-leader of its Asia financial service practice, covering 13 markets across Asia.
“He has led transformational programs for leading financial institutions across Mainland China, India, Taiwan, Singapore, Hong Kong, Korea and Japan on a wide range of strategic, financial and operational topics and is McKinsey’s expert on private banking and wealth management,” Noah said.
Before McKinsey, Lam was with American law firm Shearman & Sterling in New York and Hong Kong, counseling multinational corporations in various M&A transactions and NYSE/Nasdaq public offerings.
Noah distributed $10.3 billion of wealth management products in 2014 and had a total of $8.1 billion of assets under management as of 31 December, 2014.
Noah distributes products such as fixed income products, private equity funds, mutual funds and insurance products; it also manages private equity funds, real estate funds, hedge funds, and other assets through Gopher Asset Management.
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