Asia House leader arrested for suspected China espionage, putting sponsors on alert
David Taylor, the head of programmes at Asia House, has been arrested on suspicion of spying for China. The news has prompted calls for major financial backers to rethink their ties with the organisation. HSBC, Standard Chartered, and Prudential each donated £50,000 to Asia House this year alone.
Asia House works to strengthen connections between Asia, Europe, and the Middle East. It relies heavily on funding from major banks, with HSBC, Standard Chartered, and Prudential listed as its primary supporters in 2024.
Campaigners are now urging HSBC and Standard Chartered to review their involvement following Taylor's arrest. Both banks hold influential positions within the organisation. David Quarrey, HSBC's head of public affairs, and Tanuj Kapilashrami, Standard Chartered's chief strategy and talent officer, serve as trustees on Asia House's board.
No other regular corporate funders for Asia House have been identified in recent reports. The organisation's main focus remains on fostering business and cultural links across the three regions.
The arrest of a senior figure at Asia House has put pressure on its key financial backers. HSBC and Standard Chartered now face questions about their continued support. Both banks have yet to issue a public response regarding their next steps.
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