Reuters reveals HSBC and Ping An executives plan to discuss breakup proposal

Reuter exclusively reported HSBC and Ping An executives plan to meet in mid-May to discuss the Chinese insurer’s proposal that the bank should explore strategic options such as spinning off its Asian business. Ping An, the biggest shareholder in HSBC, called on the London-headquartered bank last week to look at ways to boost returns in a move viewed by some analysts as potentially being driven more by politics than finances.