HSBC did not comment on Chinese insurance giant Ping An's involvement but defended its overall strategy.
, has called for a break-up of the London-based bank, a source familiar with the matter said on Friday.
"Ping An supports all reform proposals from investors that can help with HSBC's operations and long-term value growth," a spokesperson said on Saturday.HSBC did not comment on Ping An's involvement but defended its overall strategy in a statement on Friday. "We believe we've got the right strategy and are focused on executing it," a spokesperson for the bank said by email.
CEO Noel Quinn, who has been running HSBC for more than two years, has doubled down on Asia by moving global executives there and ploughing billions of dollars in the lucrative wealth management business, with a focus on the region. Reuters reported last year that Beijing had grown disenchanted with HSBC over sensitive domestic and international legal and political issues, from China's crackdown in Hong Kong to the U.S. indictment of an executive at Chinese national tech champion Huawei Technologies. The executive was released last September.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ISS backs call for ConocoPhillips to set emission cutsTop proxy adviser Institutional Shareholder Services recommended investors vote for a shareholder resolution calling on ConocoPhillips to set emissions reduction targets, according to a paper provided by an ISS representative on Thursday.
Read more »
Pro-life activists protest Warren Buffett ahead of shareholder meetingPro-life activists called on Berkshire Hathaway shareholders to renounce CEO Warren Buffett’s funding of abortion rights in a protest outside the site of the firm’s shareholder meeting on Friday.
Read more »
Goldman Sachs offers bitcoin-backed loan: BloombergThe banking giant offered a lending facility with bitcoin as collateral, according to a report.
Read more »
What if the Seahawks could easily and inexpensively move up to 1.5?What if the Seahawks could easily and inexpensively trade up?
Read more »
City leaders lobby Congress to relax pot shop banking laws amid recent spate of armed robberiesPot shops across Washington continue to suffer from the ever-growing trend of armed robberies, caused by the fact that, as per federal law, they can only use cash. In 2022 alone, there have been three murders and 80 robberies in Washington state.
Read more »
Some UPS drivers want more safety measures in placeAlmost 2,000 UPS drivers have signed a petition calling for more safety measures to be put in place. FOX13
Read more »