Major Shareholder Ping An Keeps Up the Pressure on HSBC
, one of the world's biggest insurers, first publicly called on HSBC in March to consider a breakup. Ping An continues to push for a breakup of HSBC despite the bank's lack of engagement.
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On Friday, one of HSBC’s largest shareholders continued its public campaign against its international banking giant. He accused the lender of not fully engaging in discussions about its future.
Huang Yong said that the proposal of Ping An Asset Management "would not lead to the exaggerated destruction of global value, soaring operating costs, and legal barriers, as portrayed by HSBC."