Biggest Shareholder Ping An Denies Rumors It Forced Out HSBC Executives
Yicai Global
DATE:  Aug 13 2019
/ SOURCE:  yicai
Biggest Shareholder Ping An Denies Rumors It Forced Out HSBC Executives Biggest Shareholder Ping An Denies Rumors It Forced Out HSBC Executives

(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

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Keywords:   Ping An Insurance