HSBC Holdings’ largest shareholder, Chinese insurance giant Ping An, has called for a break-up of the London-based bank, a source familiar with the matter said on Friday. Ping An has set out its plan to split the company to HSBC’s board, according to earlier media reports, which also cited people familiar with the matter.
“Ping An supports all reform proposals from investors that can help with HSBC’s operations and long-term value growth,” a spokesperson said on Saturday.
