Noah Holdings Singapore has been granted a capital markets services (CMS) licence by the Monetary Authority of Singapore (MAS).
In a statement, Noah Singapore said that with its new licence, it will be able to deal in capital markets products that are securities and units in a collective investment scheme, and provide custodial services. It also allows the firm to provide financial advisory services on capital markets products that are securities, units in a collective investment scheme and life policies, as well as advice on the arranging of contracts of insurance in respect of life policies, other than contracts of reinsurance.
“Singapore plays a strategic role in Noah’s overall expansion in servicing our clients’ overall wealth management needs,” said Tao Thomas Wu, CEO of Noah Singapore. “With the issuance of the CMS licence, Noah will continue to draw on our strengths to serve Noah’s high net worth clients with an expanded suite of investment and wealth management solutions in Singapore.”
Noah Holdings Singapore is a wholly owned subsidiary of Noah Holdings Limited, which is based in Shanghai, China. It provides various services for high-net-worth Chinese clients in several countries. These include wealth management, insurance broking, family trusts, and investor education for individuals, families, and businesses.