Main concern: A woman walking past a HSBC Bank branch in Paris. Ping An is particularly disappointed by HSBC’s underperformance compared with other Asia-focused banks and a suspension of dividends during the pandemic. — Reuters
PETER Ma isn’t afraid of dramatic change.
In the past three years, the 66-year-old chairman of China’s biggest insurer has slashed more than 800,000 roles, or 60% of his army of life insurance agents, in a painful reform to boost productivity and restore value for Ping An Insurance (Group) Co.
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