Hames joined Aberdeen in 1990 and alongside Hugh Young helped create Aberdeen Asia Singapore in 1992.
Hames is to leave the firm in the autumn and is planning to return to Europe.
Prior to Aberdeen, Hames worked at Iveagh Trustees where he managed family money.
Young says: “Peter’s contribution has been vast and I am personally sorry to see him go. He has always set the standards for the team. But his example has rubbed off and we have a nucleus of half a dozen senior managers each with ten years or more with us. Peter is literally irreplaceable, so we will divide up his duties up among them.”