HSBC CFO sees upside from crackdown on big tech

“The fact that large tech has come under greater scrutiny, in some ways, we could be a net beneficiary of that,” Ewen Stevenson said at the Barclays Virtual Global Financial Services conference on Monday.

SINGAPORE: HSBC Holdings Plc is likely to benefit from China’s wide-ranging crackdown on its technology sector because it could steer more business to Hong Kong and limit competition, the bank’s chief financial officer said.

“The fact that large tech has come under greater scrutiny, in some ways, we could be a net beneficiary of that,” Ewen Stevenson said at the Barclays Virtual Global Financial Services conference on Monday.