In July 2016 Theresa May became Britain’s Prime Minster, after David Cameron resigned. Her husband Philip May is Investment Relationship Manager for Capital Group, a US Investment management firm with assets of $1.39 trillion. Philip May is based in Britain so it is highly likely he will have been involved in negotiating business deals with British based HSBC.
In October 2016 Capital Group announced a new investment initiative with HSBC in Hong Kong.
In January 2017 Aramco, Saudi Arabia’s state oil company announced plans to undertake the world largest ever IPO (share offering) worth $50-$100bn and asked Goldman Sachs and HSBC to pitch for an advisory role on the flotation, and in February it was announced that HSBC had been selected, although the location for the stock exchange was not yet decided, with the Saudis appearing to favour New York.
In April 2017 Theresa May went to Saudi Arabia and had a meeting with Aramco Chairman, Khalid Al-Falih. The only other British businessman who attended meetings in Saudi with May was Sir Xavier Rolet, the CEO of the London Stock Exchange (Telegraph)
On 24 April 2017 it was announced that HSBC had been “formally mandated” as an advisor on the sale (Reuters)