More executives have dropped out of next week’s conference in Riyadh, following the disappearance and likely murder of Jamal Khashoggi, a Saudi journalist who criticized the government and was living in self-imposed exile.
After weeks of denying any involvement or knowledge of Khashoggi’s fate (he was last seen entering the Saudi consulate in Istanbul), The Wall Street Journal reports that the Saudis may admit that he died during a botched interrogation and rendition operation.
Three chief executives of big European bank are no longer attending the Future of Investment Conference, which is scheduled to take place from Oct. 23 to 25.
John Flint of HSBC (ticker: HSBC) and Bill Winters of Standard Chartered (STAN.UK) have dropped out of the conference, spokespeople for the banks told Barron’s.
The CEO of Credit Suisse (CSGN.Switzerland), Tidjane Thiam, who had been listed as an attendee at the conference, will also not be attending, a person familiar with his decision said.
HSBC and Credit Suisse are still listed as two of the conferences eight “strategic partners.”
Larry Fink of BlackRock (BLK), Jamie Dimon of JPMorgan Chase (JPM), Stephen Schwarzman of Blackstone Group (BX) and several other high-profile CEO’s have canceled their trips, and numerous Western media organizations have withdrawn their participation. Other Wall Street figures still appear to be attending the conference.
The conference was intended to generate positive headlines for Crown Prince Mohammed bin Salman’s program of economic reforms, referred to as 2030. Instead, it has forced executives who would much rather be drumming up business with the kingdom to distance themselves from the regime with conspicuous, if limited, gestures.
Write to Ben Walsh at ben.walsh@barrons.com
