Ping An Insurance Group Co. has spent the past year agitating for change at HSBC. Its biggest demand was that the London-headquartered bank consider splitting out its Asian business, a move rejected by the company.
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.”
