LONDON (Reuters) -HSBC has hired Robey Warshaw to assist an internal review into its strategy, after a push from its largest shareholder Ping An to spin off the lender's Asian operations, a source familiar with the matter said on Friday. The London-based investment bank will work alongside HSBC executives to assess the bank's strategy, which is to remain a global bank, the source said. Robey Warshaw declined to comment.
(Bloomberg) -- HSBC Holdings Plc has brought on boutique advisory firm Robey Warshaw as a defense adviser, as the bank moves to fight calls for a breakup from its biggest shareholder, people with knowledge of the matter said. Most Read from BloombergElon Musk Sows Doubt Over His $44 Billion Twitter TakeoverSony PlayStation Staff Fume Over CEO’s Abortion CommentsUkraine Latest: US Senator Delays Aid Vote; Russia Eyes BorderTerraform Again Halts Blockchain Behind UST Stablecoin, LunaMore Than $200
China's Ping An Insurance Group Co. is urging HSBC Holdings Plc Chairman Mark Tucker to consider options including breaking the firm apart and listing its Asian operations separately on the stock market. In a recent private memo, the Shenzhen-based financial giant listed a number of perceived management failures at HSBC, from underwhelming returns to swelling costs. Harry Wilson reports on "Bloomberg Markets: Europe."