HSBC quashes bid to spin out Asian business at annual meeting

HSBC quashes bid to spin out Asian business at annual meeting

FILE PHOTO: A logo of HSBC is seen on its headquarters at the financial Central district in Hong Kong, China August 4, 2020. REUTERS/Tyrone Siu/File Photo

HSBC soundly defeated a bid to breakup the bank and spin out its lucrative Asian business at its annual investor meeting in Birmingham in England on Friday, but still faced a rebellion against its board and pay for top bosses.

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