When it comes to big-ticket financial meets, there are very few places in the world that have a higher ceiling than the Gulf. In a new development, Switzerland is going to send a delegation to some of the most important states in the region. The purpose of the visit is to forge strong business ties between Switzerland and the Gulf states. It is clearly an important event for the Swiss government and that is reflected by the fact that the country’s President Ueli Maurer is going to lead the delegation.
The finance ministry in Switzerland put out a statement regarding the details of the trip. It revealed that the Switzerland President will meet the rulers of Abu Dhabi, Saudi Arabia, and Dubai during his visit to the region between October 26 and October 29. However, it is important to point out that in addition to the Swiss President, some of the heavy hitters from the Swiss banking industry will also be in attendance. The Chief Executive Officers of Credit Suisse and Citigroup are going to attend the meeting. On the other hand, fund managers like BlackStone and BlackRock will also be part of the deliberations.
The banking executives and the fund manager will only attend the leg of the tour in Riyadh. It is one of the biggest financial conferences in the Gulf region and it is no surprise that some of the biggest names from the industry are going to visit. Saudi Arabia has pledged to make massive investments in its country in order to build up its infrastructure and it is no surprise that financiers are keen to get a piece of the action. The event was held last year as well but it was generally boycotted by prominent banks due to the killing of journalist Jamal Khashoggi.