LONDON, Dec 1 (Reuters) – HSBC (HSBA.L) Chief Government Noel Quinn has mentioned he doesn’t imagine a marketing campaign by its largest shareholder, Chinese language insurer Ping An, is politically motivated.
HSBC has come below concerted strain from Ping An Insurance coverage Group , which has urged the financial institution to separate off its Asian enterprise to spice up returns.
The marketing campaign has come amid rising geopolitical tensions between China and the West, resulting in hypothesis Ping An’s transfer may no less than partly be prompted by Beijing.
“No, I don’t imagine it is politically motivated, based mostly on the entire dialogue that we have had with varied stakeholders,” Quinn mentioned at a Monetary Occasions convention.
Reporting by Lawrence White and Iain Withers; Enhancing by Jan Harvey
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