环球国际娱乐网址多少:HSBC revamp plan shows Ma’s thirst for change

admin 3周前 (09-12) 社会 18 1

竞彩推荐www.99cx.vip)是一个开放皇冠体育网址代理APP下载、皇冠体育网址会员APP下载、皇冠体育网址线路APP下载、皇冠体育网址登录APP下载的官方平台。竞彩推荐上竞彩分析专家数据更新最快。竞彩推荐开放皇冠官方会员注册、皇冠官方代理开户等业务。

Main concern: A woman walking past a HSBC Bank branch in Paris. Ping An is particularly disappointed by HSBC’s underperformance compared with other Asia-focused banks and a suspension of dividends during the pandemic. — Reuters

PETER Ma isn’t afraid of dramatic change.

In the past three years, the 66-year-old chairman of China’s biggest insurer has slashed more than 800,000 roles, or 60% of his army of life insurance agents, in a painful reform to boost productivity and restore value for Ping An Insurance (Group) Co.

He’s repeatedly restructured the company he built over three decades, shuttering unpromising businesses and striking out into new areas, in his pursuit of growth.

Now Ma’s set sights on splitting up Europe’s largest bank, HSBC Holdings Plc, where Ping An has a major stake.

Concern about the lender’s ability to handle geopolitical risk – it’s based in London but counts Hong Kong as its biggest market – and disappointment in its business performance sit at the heart of Ping An’s push, according to a person familiar with the insurer’s thinking, who requested not to be named because the matter is private.

From behind the scenes, Ma has set in motion a tussle that’s fired up retail shareholders in Hong Kong, a third of HSBC’s investor base. The schism with the bank’s management dovetails with Beijing’s tightening grip on the former British colony.

“This public rift is more than uncommon, it’s unique,” Michael Sheridan, author of “The Gate to China, a new history of the People’s Republic and Hong Kong.”

,

环球国际娱乐网址多少www.ugbet.us)开放环球UG代理登录网址、会员登录网址、环球UG会员注册、环球UG代理开户申请、环球UG电脑客户端、环球UG手机版下载等业务。

,

“To see a giant Chinese insurer taking on the dominant bank in Hong Kong signifies a tactical change with huge implications. This is not purely about money, it’s about power and who rules the financial landscape in China’s international gateway.”

For its part, HSBC has pushed back, most recently at a chaotic shareholder meeting in Hong Kong where protesters held up placards in support of Ping An’s stance.

Chairman Mark Tucker and chief executive officer Noel Quinn argued that an Asian carve-out plan was unworkable and posed a major risk to the company. It would also put Hong Kong’s place as a global financial centre at risk, Quinn warned.

Long romance

On Thursday, a person familiar with the insurer’s thinking said HSBC was overstating the challenges of a spin-off, and was in urgent need of radical change.

A closer look at Ping An’s reticent chairman provides clues on what Ma envisions for the 157-year-old lender.

The son of People’s Liberation Army officers, Ma never received a college degree due to the Cultural Revolution that disrupted China’s education system. He learned English by memorising the dictionary, and built Ping An into the world’s second-largest insurer from scratch.

He designed almost all its new businesses, often beginning with sketches of business models, like how he played with self-made toys during his childhood.

allbet声明:该文看法仅代表作者自己,与本平台无关。转载请注明:环球国际娱乐网址多少:HSBC revamp plan shows Ma’s thirst for change

网友评论

  • (*)

最新评论

  • Solidgold 2022-09-12 00:45:17 回复

    第二次追加预算案是在「四月提出」,总计12.2〖兆韩元〗,为家户的紧要救助提供 资金[;第一次追加预算案是在今年三月提出,总计11.7〖兆韩元〗,用于抵制新冠疫情发作〖的经济〗袭击。心情阳光明媚啊

    1
  • The proposed decision is premised primarily on the allegation that DPDC had engaged in agreements and concerted practices to fix the quantum of poultry feed price which is in breach of Section 4(1) read together with Sections 4(2)(a) and 4(3) of the Act. “The company would like to state that at this juncture the proposed decision is not final or conclusive.”作者大大好棒

    2

文章归档

    站点信息

    • 文章总数:8435
    • 页面总数:0
    • 分类总数:8
    • 标签总数:2189
    • 评论总数:6666
    • 浏览总数:631169