--HSBC Holdings PLC is being called upon by major shareholder Ping An Bank Co. to break itself up, the FT reports, citing people familiar with the matter.

--The Asia-focused lender would benefit from higher profitability, lower capital requirements and greater local management control and autonomy, according to Ping An.

--HSBC Chairman Mark Tucker rebuffed calls for a break-up of the company, saying at its annual general meeting on Friday that he is happy with the company's strategy and performance, the FT reports.

Full story: https://on.ft.com/3F7OrA8

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

April 29, 2022 11:32 ET (15:32 GMT)

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