Executives: Hsbc and Reports

executives: Late on Monday, Europe's biggest bank issued a Chinese statement on its official WeChat account, denying media reports that linked the resignations of its two executives with shareholder pressure over external affairs, according to Global Times China. HSBC said these reports are baseless rumors. Photo IC The shock exit of two high-level HSBC executives within a week, including its top executive and the head of key China business, has put the 150-year-old, London-based banking giant under public scrutiny and mounting speculations. The statement came as China's Ping An Insurance, the largest HSBC shareholder, was reported to have been a major promoter of the two executives' resignations. A person close to Ping An refuted the reports, telling the Global Times on Monday that, It is only those media that want to make hype and attract attention. Ping An Insurance overtook New York-based Black Rock, the world's biggest asset manager, to become the largest shareholder of HSBC in November last year, with a stake of over 7 percent. (news.financializer.com). As reported in the news.