The investors of Lehman Brothers minibond held several meetings with ABN Amro and Secretary for Financial Services and the Treasury Chan Ka-keung yesterday to express their discontent on the banks that did not fully show the risk of Lehman Brothers minibonds when selling.
More than 20 investors handed in a complaint letter and demanded for a meeting with senior management. Maria Leung, ABN Amro's head of consumer clients in Hong Kong, said they have contacted all their clients that bought the minibonds to alert and update them with the situation.
"...our relationship managers followed the appropriate processes governing client suitability and sales, in accordance with our own policies and regulatory requirements," she said. "The bank would be happy to arrange a meeting."
Investors also went to the Monetary Authority to request assistance from the executive director, Raymond Li Ling-cheung and went for a private meeting with lawmaker Chan Kam-lam of the Democratic Alliance for the Betterment and Progress of Hong Kong.
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