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Evening Standard

Business

Oscar Williams-Grut

City comment: HSBC’s political balancing act is getting increasing precarious

HSBC Noel Quinn United States Ping An China

HSBC
(Picture: REUTERS)

Running a big bank is a political job at the best of times but HSBC boss Noel Quinn has found himself smack bang in the middle of the biggest geopolitical story of our century: the growing rift between the US and China.

Chinese insurer Ping An, one of the bank’s biggest investors, has been lobbying for a split of HSBC into its Asian and Western arms. It broke cover over the weekend to call for “a debate about the future of the bank”.

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