Boutique investment manager Matthews International Capital Management will see its ownership return to leaders from its founding era.

Founder G. Paul Matthews and executive chairman Mark Headley are set to take a controlling interest in the firm, pending standard approvals from the board, regulators, and shareholders.

As this transition moves forward, several of the firm’s longstanding partners are set to increase their equity stakes.

Paul Matthews commented: “I’m delighted that Matthews will once again become a truly independent company under Mark’s leadership. In an increasingly volatile world, I believe the case for international diversification is as compelling today as it was 35 years ago. I’m proud of our history and confident in the continued evolution of our business.”

Besides, Kathy Xu will join Matthews International Capital Management in Hong Kong.

Previously, Xu worked as director of North Asia and senior portfolio manager for China equities at APG Asset Management.

She also has experience as an investment manager at Aberdeen Asset Management, focusing on Chinese A Shares.

Starting 9 March 2026, Xu will work with Headley on both the Matthews Pacific Tiger Fund and the Matthews Pacific Tiger Active ETF.

Mark Headley said: “It is a privilege to become a controlling shareholder of Matthews, alongside my longtime partner and colleague Paul Matthews. This decision reflects the deep conviction we share in the future of the firm we have built together and our continued commitment to serving clients with independence and focus.

“The appointments of Tiffany Hsiao last fall and now Kathy Xu as Portfolio Managers strengthens the firm’s investment leadership.”

Since its founding in 1991, Matthews International Capital Management has concentrated on investments in Asia and later broadened its focus to include global emerging markets.