HSBC’s China Game Plan Clashes With Rising Political Risks
- HSBC agrees to new wealth deal in China with Citi purchase
- Simmering US-China tensions put bank under increasing scrutiny
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HSBC Holdings Plc is distancing itself from its top diplomat at an awkward time. In some ways, the bank has never needed the role more.
Public affairs head Sherard Cowper-Coles is expected to leave the position after his unguarded comments about the UK’s “weak” handling of relations with Beijing by siding with the US, which triggered fresh scrutiny of HSBC’s engagement with China and the West.