Top bankers to attend Hong Kong investment summit

Top bankers to attend Hong Kong investment summit

HONG KONG The heads of some of the world's top banks and asset managers will attend an investment summit in Hong Kong on November 2, the city's financial regulators said on Thursday, signalling a re-opening of the financial hub after strict pandemic-linked curbs.

Goldman Sachs Group Inc CEO David Solomon, Citigroup Inc head Jane Fraser, Morgan Stanley boss James Gorman and BlackRock Inc President Rob Kapito will be among the speakers at the Global Financial Leaders' Investment Summit, according to the Hong Kong Monetary Authority HKMA.

After more than two years of COVID 19 border restrictions, Hong Kong officials hope that the most high-profile event since the start of the epidemic, which will lead to the Rugby Sevens, will be a re-opening of the city.

Hong Kong's unrelenting COVID curbs have battered its economy and standing as a financial centre.

The city removed the mandatory hotel quarantine from Monday, but visitors to the city still face restrictions on visiting some places like bars and restaurants for the first three days.

Top bosses would not attend if restrictions were in place, according to some banks.

The final guidelines for those attending the summit were still being finalised, according to HKMA Chief Executive Eddie Yue.

He said that for most of them this will only be a short visit and we need to make sure they can meet people, do business and build relationships in the kind of business-as usual way they expect from a vibrant international city.

The latest relaxation of some of the control measures is helpful and provides a good basis for us to finalise an appropriate set of arrangements to facilitate the visit of our guests and make the Summit a success, which will underline Hong Kong's status as an international financial centre. Singapore, which has long been locked in fierce competition with Hong Kong to be considered Asia's premier financial centre, attracted dealmakers, fund managers and CEOs for a slew of high-profile conferences this month.