Matthews Transitions Controlling Equity Ownership

Editorial Staff

16 February 2026

has announced that Paul Matthews, the firm's founder, and Mark Headley, who joined Matthews soon after its founding and returned as executive chairman last year, will acquire controlling ownership interest of the firm. This is subject to customary closing conditions, including applicable board, regulatory and shareholder approvals.

Alongside this, as the firm’s ownership transitions, several of the its long-time partners will be increasing their equity ownership, reflecting their shared commitment to the firm and its future.

“It is a privilege to become a controlling shareholder of Matthews, alongside my longtime partner and colleague Paul Matthews,” said Headley. “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 strengthen the firm’s investment leadership.”

Kathy Xu, who is joining Matthews, will be based in Hong Kong, the firm said in a statement. She was most recently with APG Asset Management, where she served as director of North Asia and senior portfolio manager of China equities. Earlier in her career, she served as an investment manager at Aberdeen Asset Management, specialising in Chinese A Shares. She will join Headley – who was named portfolio manager on the Matthews Pacific Tiger Fund and the Matthews Pacific Tiger Active ETF, effective 9 March 2026 – and will work alongside him on the fund and the active exchange-traded fund (ETF).

“In an increasingly volatile world, I believe the case for international diversification is as compelling today as it was 35 years ago,” said Paul Matthews.

Matthews has built a differentiated investment firm rooted in Asia which has expanded over time to include global emerging markets. This geographic expertise and focus, together with a client-centric culture, continues to differentiate the business, the firm said.

Matthews is a privately owned boutique investment manager focused on Asia and emerging markets. It was founded in 1991 in the belief that Asia and global emerging markets offer long-term growth potential. The firm’s investment offerings provide a range of choices for building a global portfolio that includes exposure to some of the world’s fastest-growing regions. (The firm, which was formerly known as Matthews Asia, dropped the “Asia” handle to reflect a wider focus in 2023.)