One of China’s biggest insurers has become the second-largest shareholder of HSBC, The Wall Street Journal reports. But it will not influence how the UK-based bank is run, HSBC’s departing chief executive Stuart Gulliver said.

Ping An Insurance of China’s investment is a financial move and not a strategic one, Gulliver told reporters at an event in Shenzhen, after the Chinese insurer said that its stake in HSBC rose to more than 5%.