Value Partners has appointed Patricia Cheung as its sole chief operating officer from May 2020. Cheung was mostly recently the firm’s co-chief operating officer alongside Roger Hepper, who is preparing to retire at the end of April. The duo have jointly led Value Partners’ front and back office operations since July 2019. Going forward, Cheung will continue to lead the operations team and manage portfolio analytics. She first joined the firm as a chief administrative officer in August 2018. Prior to that, Cheung was a treasurer at the Hong Kong Exchange where she oversaw a $20bn liquidity portfolio. She has also served as a senior advisor at Lufax, an online Chinese wealth manager owned by the Ping An Group. In her earlier days, the executive worked at Morgan Stanley, as well as Goldman Sachs.