HSBC today published its response to the statement issued by Ping An Asset Management Company on 18 April 2023.
As FNG has reported, Ping An pushed for restructuring at HSBC, with the proposed changes affecting primarily the operations of HSBC Asia Pacific.
In its response, HSBC argues that a structural reconfiguration of HSBC Asia Pacific would result in material loss of value for HSBC shareholders.
In 2022, HSBC undertook a thorough evaluation of structural options for its Asia Pacific businesses, the conclusions of which were summarised in our 2022 interim results. The Board considered the potential revenue and…
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