A London fund manager has expressed concern over the performance of HSBC under new chairman Stephen Green.
In an interview with the DailyTelegraph in London, Michael Taylor, head of equities at Threadneedle Investments, said that Green was not a successful leader of the bank.
“We had Stephen Green in here two weeks ago, and, cor, he was asleep on the job is how I would describe it,” Taylor said. “He’s just not up for it.
Taylor cited HSBC’s apparent lack of interest in investment in Asia as particularly worrying. He preferred Standard Chartered at present because of its focus on Asia.
The comments came follow a near 10 per cent fall in the share price of the bank in the last two months.