The London-based lender is one of the world’s top financial institutions, but its biggest investor, Ping An Asset Management, is deeply concerned about the bank’s future and wants its Asia business spun out into a Hong Kong-listed entity. Retail investors in Hong Kong,
for almost 15 years. “It’s never been a discussion that management had to refute as much as they are doing right now.” ’s strong earnings this week, which included a tripling of profits, restoration of dividends and an announcement of buybacks, also gives management ammunition for its argument that it’s on the right path, according to analysts. Canvassing for support But Ken Lui, an activist shareholder in Hong Kong spearheading the resolution, told CNN he was confident his proposal would pass.
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HSBC shareholders to vote on whether to spin off Asia business at Friday's annual meetingTaking 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.
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