Investors force HSBC shareholder vote on structural overhaul

Minority shareholder Ken Lui leads campaign seeking to split bank’s Asian and western businesses

Hong Kong investors have forced HSBC into a shareholder vote on its structure and strategy, including a potential spin-off of its Asian arm.

An investor group, led by minority shareholder Ken Lui, said the bank’s Asian activities were “effectively subsidising the western businesses, to the detriment of HSBC’s global shareholders” in a way that undermines efforts to increase the bank’s value and growth.