Yu-Ming Wang, president and global CIO of Matthews Asia, has resigned and will leave the firm Sept. 30, the firm said in an email statement Tuesday.
Robert Horrocks, the firm's CIO and a portfolio manager, is responsible for the day-to-day management of Matthews Asia's investment team and will continue to oversee the firm's Asia- and emerging markets-focused investment portfolios, according to the firm's statement.
The firm did not provide a reason for Mr. Wang's departure in response to a request for more information.
A source who requested anonymity said Mr. Wang "abruptly resigned" during a conference call Sept. 2. Mr. Wang could not be reached for comment.
Mr. Wang joined Matthews Asia in February after serving as senior executive investment adviser for Nikko Asset Management Americas.
In a Feb. 24 company news release, Mr. Horrocks said he looked forward to "partnering with Yu-Ming to develop the long-term strategic plans for the investment team."
In the firm's statement Tuesday, Mr. Horrocks said he will work closely with William J. Hackett, Matthews' CEO "in considering what support is required by the investment team, with a focus on ensuring there is ongoing strategic development, long-term planning and management of over 40 investment professionals."
Matthews Asia managed $24 billion as of Aug. 31.
