HSBC pressed to spin off Asian business
Bank resisting calls from top shareholder Ping An Insurance of China
HSBC Holdings Plc has begun an internal review in the face of pressure from its largest shareholder to discuss splitting off the bank’s Asian operations.
The London-headquartered bank is examining the case for a breakup after Bloomberg reported late last month that Ping An Insurance of China was pushing the lender to take action to improve returns, according to people familiar with the matter, who asked not to be identified discussing private information.
Executives are against the idea…
