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HSBC Begins Internal Analysis to Help Rebut Push for Split

  • Ping An wants HSBC to debate spinning out its Asian unit
  • Goldman Sachs is working with HSBC on its internal review
HSBC’s headquarters in Hong Kong.

HSBC’s headquarters in Hong Kong.

Photographer: Paul Yeung/Bloomberg
Updated on

HSBC Holdings Plc has begun an internal review that’s part of an effort to rebut calls from its largest shareholder to discuss splitting off its Asian operations.

The London-headquartered bank is examining the case for a breakup after Bloomberg reported late last month that Ping An Insurance (Group) Co. was pushing the lender to spin off its Asian unit to improve returns, according to people familiar with the matter, who asked not to be identified discussing private information.