Ping An
Chinese asset manager becomes second biggest HSBC stakeholder
The asset management arm of China’s Ping An Insurance has become the second largest shareholder in HSBC after a recent acquisition pushed its stake over the 5% stock exchange notification threshold.
Hong Kong’s Mason plans acquisitions for wealth unit launch
Hong Kong financial company Mason Group Holdings has announced plans to build an offshore wealth management business with at least $3bn (£2.3bn, €2.5bn) in assets from the ground up through a series of acquisitions.
Nine insurers identified as globally systemically important
The Financial Stability Board has named Aegon, Aviva, and Axa among nine global insurance firms identified as systemically important financial institutions (SIFI).