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(Yicai Global) Aug. 13 -- Ping An Insurance (Group) Company of China rebuffed rumors yesterday it is behind the resignation of two HSBC Holdings executives.
Ping An's shareholding in HSBC [LON:HSBA] -- the largest -- is purely a financial investment in the company's insurance funds and it does not participate in any day-to-day operations and management, it stated, Securities Times reported today.
Claims that HSBC's recent personnel changes were based on shareholder pressure are unfounded, HSBC Holdings also said yesterday.
Editor: Ben Armour