Aberdeen has announced that Flavia Cheong, head of equities for Asia Pacific, will retire at the end of 2025 after a three-decade career with the business. Her departure follows a period that saw Aberdden grow from having a small regional presence into one of the most respected Asia equity managers in the market. She will be succeeded by Pruksa Iamthongthong, currently deputy head of Asia Pacific equities, who brings 20 years’ experience at Aberdeen and has long been a visible part Asian Pacific equities leadership team.
Cheong joined the firm in 1997 as one of the first members of Aberdeen’s newly established Singapore office. Prior to this, she was an economist with the Investment Company of the People’s Republic of China, and earlier with the Development Bank of Singapore. At the time, Aberdeen managed just £250m in Asia Pacific equities, which stands today at £16.9bn. Alongside managers such as Hugh Young, who left Aberdeen in 2023, Cheong has played a central role in building the team, process, and performance track record that have underpinned this growth.
Reflecting on her retirement, Cheong said: “I am glad to be part of Aberdeen’s growth journey in Asia. I’m proud of what we’ve built together and grateful to my colleagues and our clients for their trust. I leave the team in highly capable hands.”
Iamthongthong commented: “I’m honoured to lead this exceptional team. With an average tenure of 12 years, our deep local expertise and collaborative culture are our greatest strengths. I look forward to building on the strong foundations laid by Flavia and continuing to evolve our strategies to meet the needs of our clients.”
Devan Kaloo, global head of equities at Aberdeen, said: “Flavia helped put Aberdeen on the map in Asia. Her leadership, investment acumen, and commitment to nurturing talent have left an enduring legacy. Pruksa is the natural successor. She combines a strong performance track record with deep client engagement and a passion for continuous improvement.”
The announcement came alongside news of two further hires joining the team in June: Isaac Thong, from JP Morgan, as a portfolio constructor, and Anthony Yang, an emerging markets financials analyst from Goldman Sachs.
Cheong’s retirement will be closely noted by investors in Aberdeen-managed Asia mandates, including listed vehicles such as abrdn Asia Focus (AAS), where she has long played a behind-the-scenes role in building the research platform that supports lead manager Gabriel Sacks and his team. In managing AAS, Sacks will be supported by Xin-Yao Ng and the wider Aberdeen Asia Pacific equity team of analysts and investment managers based in the region.
[QD comment MR: While Flavia Cheong’s retirement marks a significant moment for Aberdeen’s Asian equities operation, Aberdeen has always had a strong emphasis on a team approach and Flavia leaves behind an experienced bench and a clear successor in Pruksa Iamthongthong. We think that part of Aberdeen’s strength in Asia has been due its local presence, team longevity and disciplined process. These are all qualities Cheong helped instil and they all remain in place.
For investors in trusts such as abrdn Asia Focus, the disruption should be minimal – the team has managed the departure of major team members previously with the minimum of fuss, and we expect the same this time around, noting that Gabriel Sacks and his team remain in place.]
