HSBC is reportedly feeling the impact of the controversial comments from suspended asset management executive Stuart Kirk, with discontent being expressed across the board by clients and employees.
HSBC Asset Management has received multiple inquiries from institutional clients about the recent comments by head of responsible investing Stuart Kirk, according to a «Reuters» report citing multiple unnamed sources.
This includes one large institutional investor with more than $100 billion in assets which is seeking opinions from consultants on whether or not to use the British asset manager to help manage sustainability funds.
Others made inquiries as a matter of obligation to seek clarity and better understand HSBC’s official stance.
Staff Discontent
In addition to clients, the bank is also facing discontent internally.
Some employees raised questions to senior management during a recent town hall while others sought reassurances about HSBC’s policies.
Last week, Kirk was suspended following comments made about the financial overemphasis on climate change, underlining much more immediate priorities such as rising interest rates or inflationary pressures.
