Three months on from winning a shareholder vote over a strategy shakeup pushed by its largest shareholder, HSBC Holdings Plc Chief Executive Officer Noel Quinn said the debate over a potential split of Europe’s largest bank was over.
(Bloomberg) — Three months on from winning a shareholder vote over a strategy shakeup pushed by its largest shareholder, HSBC Holdings Plc Chief Executive Officer Noel Quinn said the debate over a potential split of Europe’s largest bank was over.
“The vote was very clear, and I believe that matter is now behind us,” said Quinn, speaking in an interview with Bloomberg Television Tuesday. “That matter is now closed from the point of view of HSBC.”
Ping An Insurance Group Co. has spent the past year agitating for change at HSBC. It’s biggest demand was that the London-headquartered bank consider splitting out its Asian business, a move rejected by the company.
Quinn said the bank continues to have dialog with all its shareholders.
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