HSBC’s top shareholder, Ping An, has escalated a dispute with the bank, accusing executives of exaggerating the downfalls of splitting off the Asian business, and insisted the move could instead boost the bank’s value by up to $35bn (£28.6bn), according to a source close to the investor.
It comes after HSBC’s chief executive, Noel Quinn, used an earnings announcement last week to defend the bank’s strategy and stress that its success was dependent on maintaining its global network.
