MARKETS | Staff Reporter, UK

HSBC CEO to face UK officials over frozen Hong Kong accounts

Noel Quinn is set to appear before the foreign affairs committee’s hearings on Tuesday.

HSBC Holdings Plc's Chief Executive Officer Noel Quinn is set to appear before the UK Parliament Foreign Affairs Committee to answer questions over the lender's moves to freeze accounts of activists in Hong Kong, reports Bloomberg.

Quinn—along with Colin Bell, the bank's chief compliance officer—is listed as a participant at private and public hearings on 26 January, according to a parliament schedule, which didn't provide details.

The London-based bank, which counts Hong Kong as its largest market, has been caught in the midst of growing tension as China tightens control over the former British colony. The lender came under criticism last year after its top executive in Asia publicly endorsed a controversial security law imposed on the city.

HSBC froze the bank account of former Hong Kong lawmaker Ted Hui last year. The pro-democracy lawmaker was amongst those arrested in connection with a protest in the city’s legislative chamber in May 2020.

Here’s more from Bloomberg.

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