News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Asset Management

Top shareholder Aviva slams HSBC and StanChart’s Hong Kong stance

Aviva Investors, a top 20 shareholder in both banks, is one of the first City firms to come out publicly with its disquiet over the banks' political move

HSBC and Standard Chartered premises in Hong Kong, China
HSBC and Standard Chartered premises in Hong Kong, China Photo: Getty Images

Aviva Investors has hit out at HSBC and Standard Chartered's decision to back China’s new security law for Hong Kong, in one of the first signs of disquiet from a big London shareholder on the issue.

In a 9 June statement, equities chief investment officer David Cumming said: “We are uneasy at the decisions of HSBC and Standard Chartered to publicly support the proposed new national security law in Hong Kong without knowing the details of the law or how it will operate in practice.”

WSJ Logo