HSBC is considering a shift towards fully online annual general meetings (AGMs) as part of efforts to reduce disruption from climate, related protests and cut operational costs. The proposal follows repeated activist interventions at in, person meetings and mirrors a broader reassessment of shareholder engagement models across global banks.

Although HSBC has not yet formally committed to abandoning physical AGMs, the development signals evolving governance practices influenced by security concerns, cost pressures, and digitalisation. Similar approaches have already been adopted by other European banks.

For regulators and governance watchdogs, the move raises questions about shareholder rights, transparency, and equal participation, particularly for minority and cross, border investors.

HSBC.

Sources:

• The Banker – HSBC Considers Shift to Online-Only Annual General Meetings
• Financial Times – HSBC Weighs Move to Virtual-Only Shareholder Meetings