HONG KONG : Ping An Insurance Group defended its call to spin off HSBC's Asia business, citing its large holdings in the bank that affects its investment returns. 'It is a significant investment and we've invested in it for seven years,' Jessica Tan, the group's co-CEO, told Reuters on Wednesday, when asked a
HONG KONG : Ping An Insurance Group defended its call to spin off HSBC's Asia business, citing its large holdings in the bank that affects its investment returns. "It is a significant investment and we've invested in it for seven years," Jessica Tan, the group's co-CEO, told Reuters on Wednesday, when asked about the drivers behind urging Europe's largest bank to consider a spin-off.
"We care much about long-term returns," Tan said in remarks that were among the first official comments by the insurer's senior management on the saga with HSBC.
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