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HSBC boss Noel Quinn writes to ex-Hong Kong lawmaker to explain why his accounts were frozen Ted Hui slams the UK lender for ‘political toadyism’ after freezing his bank accounts and credit cards Ted Hui wrote on Facebook that Noel Quinn had told him that HSBC “had no choice” but to legally freeze his bank accounts and credit cards after they’d been instructed to do so by the Hong Kong police Anthony Wallace/Getty Images By Monday January 18, 2021 9:40 am Former Hong Kong lawmaker Ted Hui has criticised HSBC for “political toadyism” after it froze his bank accounts and credit cards. ....
Financial News Shareholders have filed a resolution to push HSBC to commit to cutting fossil fuel investments HSBC has made no commitment to reduce funding for fossil fuels, in particular coal, which has risen every year since 2016 Sean Gallup/Getty Images By Monday January 11, 2021 1:08 pm Fifteen institutional investors with a combined $2.4tn under management have filed a climate change resolution with HSBC calling for the bank to publish targets for reducing its exposure to coal in line with the Paris climate goals. The move has been coordinated by responsible investment NGO ShareAction with backing from investors including asset manager Amundi and hedge fund Man Group. ....