Top shareholder of HSBC renewed its call for breaking up of the Asia-focused bank on Tuesday, saying the lender has failed to address key business model challenges which has resulted in deterioration in its operating performance.
Ping An Asset Management Company (Ping An AMC) said in a statement HSBC has “drained” its Asia unit of dividends and growth capital to support its relatively low-return non-Asia businesses.
Over the past two years, Ping An AMC said it had shared numerous structural suggestions with HSBC management ranging from listing the HSBC Asia business in Hong Kong to consolidating Asia businesses.
Source : Reuters
In international affairs, what a country does depends on its own interests and on what…
US Treasuries have long been the benchmark dollar safe asset, and the convenience yield they…
AI agents can now write substantial amounts of research code. In a recent self-selected survey,…
Governments and international organizations collectively invest trillions of dollars each year in transport infrastructure —…
One in five workers worldwide lives in South Asia, where 1.17 billion people are in…
Stablecoins compete with banks for households’ holdings of safe and liquid assets, while creating additional…