June 30, 2020 / 8:30 AM / a month ago

Federated Hermes questions HSBC's stance on Hong Kong law

LONDON, June 30 (Reuters) - HSBC investor Federated Hermes said it has questions about the bank’s support for China’s new security law for Hong Kong, the second investor in Europe’s biggest bank in recent weeks to voice concerns about the lender’s stance.

“We expect companies to support improvements in protections for citizens and not back their removal,” Roland Bosch, lead engager for financial services at Federated Hermes’s stewardship and engagement team, said.

The new law could have an adverse impact on human rights, he said.

Aviva Investors, another leading HSBC shareholder, said earlier this month it was uneasy about the bank’s show of public support for the law. (Reporting By Lawrence White; Editing by Tom Arnold)

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