Under attack: BEA chairman and chief executive David Li said that BEA would vigorously resist Elliott’s attack on the bank. — Bloomberg
This comes as US hedge fund Elliott Management launches legal proceedings against the century-old bank
WHILE a corporate streamlining could take place at Tan Sri Quek Leng Chan’s Hong Leong group with the proposed sale of its insurance business and speculation of the tycoon’s youngest son assuming a bigger role, the latest development in Bank of East Asia (BEA) could present him with another bite at the cherry. The tycoon has a 14% stake in BEA.
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