HSBC’s Guyett Defends China Stance, With Clients Seeking Answers
- Clients asking about HSBC position on China’s plans, memo says
- Global banking co-head Guyett says Hong Kong still key conduit
Photographer: Anthony Kwan/Bloomberg
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A top HSBC Holdings Plc executive sought to reassure clients and staff after the bank’s controversial support of China’s proposed security law in Hong Kong, saying that the escalating political rhetoric won’t diminish the appeal of the two markets.
The bank’s clients have raised the topic of Hong Kong in nearly every discussion in recent days, HSBC’s co-head of global banking and markets Greg Guyett said in an internal memo to colleagues, adding that he has addressed those concerns by pointing to HSBC’s role as a “bridge” between Asia and Western economies.