HSBC has delivered a sharp rebuke to Eric Knight by dismissing the activist investor’s demands for a shake-up in the bank’s corporate governance and rejecting calls for an independent strategic review. Simon Robertson, the bank’s senior independent director, on Wednesday told Mr Knight that HSBC’s non-executive directors unanimously supported Stephen Green as executive chairman and saw no need for a strategy review. The decision is a setback for Mr Knight, whose investment firm, Knight Vinke, this month launched a wide-ranging attack on HSBC over governance issues and its poor share price performance.

This entry was posted by Gwen Robinson on Thursday, September 20th, 2007 at 5:37 and is filed under Capital markets, People. Tagged with Eric Knight, hsbc. Edit this entry.