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City of London

Ping An Paperwork Blunder Halted HSBC Shareholder Protest Vote

  • Insurer had planned to vote against CFO’s reappointment
  • Chinese firm missed deadline to lodge its votes at HSBC’s AGM


Photographer: Anthony Kwan/Bloomberg

Ping An Insurance Group Co. had planned a broadside against HSBC Holding Plc at the bank’s annual shareholder meeting. A failure to file its paperwork on time stopped the plan in its tracks.

The Shenzhen-based company was set to lodge several protest votes at HSBC’s April AGM, including opposing the reappointment of the bank’s Chief Financial Officer Ewen Stevenson as a director, as well as voting against its remuneration report, according to people familiar with the situation.