Fund managers target HSBC board

Concern over strategy

Laura Dew
clock

HSBC is being targeted by institutional investors looking to shake up the board after poor share price performance, according to reports.

The Times reports the shareholder group is working under the auspices of the Investor Forum, a shareholder body set up last year to engage with boards of directors at major blue-chip firms. It is believed to be pushing for talks with HSBC chairman Douglas Flint and deputy chairman Sir Simon Robertson. Shareholders particularly want to know what the succession plans are for when chief executive Stuart Gulliver leaves and why his strategy has failed to stop share prices falling. HSBC shares have fallen by 14% over the past year, from 628p to 531p. Buxton: It may be too late to sto...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

Trustpilot