Chinese insurer Ping An accused HSBC of merely paying lip service to calls for an Asia spin-off.
HSBC has «merely repeated» past rebuttals to proposals for an Asia spin-off, according to a «Reuters» report citing a statement from Ping An, the bank's largest shareholder.
«As in accordance with the fundamental principles of global corporate governance principles, HSBC should at least respect their shareholders and their concerns or views,» said Ping An chairman Michael Huang.
Ping An added that HSBC had failed to engage in «deep discussions» though the British lender said in a previous statement that approximately 20 meetings were held between the two firms in 2022 and 2023 at the chairman, chief executive officer, chief financial officer and senior management level.
