City Of London
HSBC's Largest Shareholder Supports Breakup of Europe's Largest Bank
- Shareholder has held discussions with bank on Asia spinoff
- Ping An owned 8% of the lender at end of 2021, filings show
This article is for subscribers only.
HSBC Holdings Plc’s largest active investor would support a breakup of the lender on the basis that a separate Asia-listed unit would create shareholder value.
Ping An Insurance (Group) Co. has held discussions with the bank on the idea of spinning off HSBC’s Asian operations and listing them separately in Hong Kong, according to people familiar with the matter. The shareholder believes a spinoff would win broad investor support.