HSBC shareholders to vote on whether to spin off Asia business at Friday's annual meeting

📆 05/05/2023 11:20:00
📰 CNBC

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Taking center stage for investors will be two resolutions tabled by investor Ken Lui, which call for a spinoff of HSBC's Asia business and fixed dividends.

" that the proposals reflect a longer-term issue "that's not likely to go away for HSBC." He predicted the bank will continue to see activist or leading shareholders putting pressure on management going forward.

"It would make sense to simplify the structure. However, as a bank, it's not easy to simplify it," he said.

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