Beautiful Virgin Islands

Thursday, Apr 02, 2026

"Embrace New Reality": Credit Suisse Reassures Hong Kong Clients

"Embrace New Reality": Credit Suisse Reassures Hong Kong Clients

Executives at the event from the troubled Swiss lender were eager to offer reassurances, even as details of the takeover by Swiss giant UBS remained unclear and global markets were buffeted by fears for the banking industry.
Days after it was rescued in an emergency buyout, Credit Suisse gathered hundreds of clients in an upscale Hong Kong hotel on Tuesday for a glitzy investment conference where they were told to "embrace the new reality".

Executives at the event from the troubled Swiss lender were eager to offer reassurances, even as details of the takeover by Swiss giant UBS remained unclear and global markets were buffeted by fears for the banking industry.

UBS agreed on Sunday to a government-brokered deal to take over Credit Suisse for $3 billion Swiss francs ($3.25 billion), a move authorities say was vital to prevent further economic turmoil.

Chairman Axel Lehmann and CEO Ulrich Korner cancelled their scheduled appearances at the event in the Chinese finance hub.

That left Head of Global Equities Neil Hosie to welcome corporate clients at Hong Kong's Conrad Hotel, overlooking the city's famed Victoria Harbour.

A Credit Suisse executive at the event told AFP Hosie did not speak about company prospects during his closed-door welcome speech and took no questions.

A brief statement was released to the media in which Hosie said: "The (conference) represents Credit Suisse at its best."

"For 26 years, it has been our privilege to present powerful perspectives on the themes that matter most."

Organisers in Hong Kong announced the event would no longer be open to the media after the weekend's crunch talks at the Swiss finance ministry to decide the bank's fate.

A security guard tried to block an AFP reporter from taking photographs within the hotel, saying the event was private.

The three-day event, in its 26th and potentially final iteration, was meant to discuss how investors can adapt to slower growth and elevated tensions in Asia, according to the company.

The lineup of guest speakers includes British adventurer Bear Grylls, who will speak on overcoming fears, building mental resilience and how "our mindset affect(s) our success in business".

City leader John Lee said on Tuesday Hong Kong would not be significantly affected by the Credit Suisse fallout and that the lender's business and assets in the city were relatively small.

"The banking system in Hong Kong is very resilient and very properly regulated," Lee said at a regular news briefing.

Lee had been scheduled to address the conference but was replaced by another Hong Kong finance official.

'Don't sense panic'

While Credit Suisse prepares for life under new management, its Hong Kong clients were told to "embrace the new reality and thrive", according to promotional materials prepared well before the weekend's events.

The event is expected to draw more than 1,600 institutional investors from more than 200 companies, including 84 Chinese firms, according to the bank.

A crowded lunch buffet and lively conversations in hotel hallways on Tuesday betrayed few signs that anything was amiss.

Clients at the event were "by and large supportive" of the bank and have confidence in the takeover, according to the Credit Suisse executive.

"They are not worried about any problems because this (merger) has the backing of the Swiss government," he said.

A conference attendee representing a Chinese firm told AFP news about the acquisition had been encouraging.

"I don't sense a panic here," said the executive, who declined to be identified because he was not authorised to speak to the media.

"But this is a good reminder to prepare ourselves and keep our options open."
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
King Charles III Invited to Address Joint Session of U.S. Congress in Rare Diplomatic Honor
Debate Grows Over Whether Expanded North Sea Drilling Can Reduce UK Energy Bills
UK Faces Heightened Risk of Jet Fuel Shortages, Airline Chief Warns
UK Ends Police Investigations into Lawful Social Media Posts After Review Finds Overreach
Abramovich Moves to Establish Charity for Frozen Chelsea Sale Proceeds Amid UK Dispute
Starmer Reaffirms NATO Commitment While Responding to Trump’s Strategic Critique
UK Aid Reductions Raise Fears of Severe Human Impact Across Parts of Africa
UK Signals Renewed Push for EU Cooperation as Iran Conflict Reshapes Security Landscape
Bank of England Signals Caution as Bailey Advises Markets Against Expecting Rate Hikes
UK to Convene Global Coalition to Restore Shipping Through Strait of Hormuz
Trump Signals Possible NATO Reassessment, Emphasizes Stronger U.S. Strategic Autonomy
Australia Joins British-Led Efforts to Reopen Strait of Hormuz Amid Escalating Tensions
King Charles Plans US State Visit as UK Strengthens Ties with Trump Leadership
UK Regulator Launches Investigation Into Microsoft’s Business Software Practices
Kanye West Set for High-Profile Return to UK Stage at Wireless Festival
Trump Presses Europe to Strengthen Commitment as Iran Conflict Escalates
UK to Deploy Additional Troops to Middle East Amid Rising Regional Tensions
UK Authorities Face Claims of Heavy-Handed Measures in Monitoring Released Pro-Palestine Activists
Trump Calls on UK to Secure Its Own Energy as Iran Conflict Intensifies
Nigel Farage Declines Invitation to UK Conservative Conference Led by Liz Truss
Trump Warns Allies to Take Responsibility as Rift Deepens with UK and France Over Iran Conflict
How Britain’s Prime Minister Controls U.S. Bomber Access in Escalating Iran Conflict
Trump Urges Allies to Secure Their Own Oil Supplies as Hormuz Crisis Disrupts Global Energy
Russia Expels British Diplomat as UK Pushes Back Against Pressure
White House App Faces Scrutiny After Claims of Continuous User Location Tracking
BBC Faces Scrutiny Over Allegations of Paid Content Linked to Saudi Arabia
UK-France Coastal Patrol Agreement Nears Breakdown Amid Migration Pressures
UK Police Detain Pro-Palestine Activist Again Weeks After Bail Release
FTSE 100 Advances as Energy and Mining Shares Gain Amid Middle East Tensions
Eli Lilly Seeks UK Pricing Deal to Unlock Renewed Pharmaceutical Investment
Three Arrested in UK After Massive Cocaine Haul Discovered Hidden in Banana Shipment
UK Fuel Prices Poised for Further Surge Amid Global Energy Pressures
Apple Subsidiary Penalized by UK Authorities for Breach of Moscow Sanctions
Western Allies Intensify Coordinated Sanctions Strategy Against Russia
UK Lawmakers Face Criticism Over Renewed Push for Social Media Restrictions
Starmer Signals UK Crackdown on Addictive Social Media Features
Rising Costs Push One in Five UK Hospitality Businesses to the Brink of Closure
Man Arrested on Suspicion of Attempted Murder After Car Strikes Pedestrians in UK, Injuring Seven
Escalating Conflict Involving Iran Tightens Fiscal Pressures and Highlights UK Economic Vulnerabilities
UK Moves to Confront Russian ‘Shadow Fleet’ Operating in Its Waters
UK Housing Divide Deepens as Older Owners Hold Wealth While Under-30s Face Mounting Barriers
London Demonstration Calls on UK to Recognize Iranian Opposition’s Provisional Government
UK Green Party Vote on ‘Zionism is Racism’ Motion Collapses Amid Internal Disputes and Technical Failures
SNL UK Ignites Debate with Sharp Royal Satire Targeting Prince Andrew and Prince William
EU Proposes ‘Emergency Brake’ to Resolve Deadlock in UK Youth Mobility Talks
Thousands Rally in London to Oppose Rise of Far-Right Movements
Hong Kong Official Rejects Allegations of Surveillance Orders Targeting UK-Based Dissidents
PayPal Expands Cryptocurrency Services to Allow UK Users to Buy and Sell Bitcoin
UK Minister Challenges Reform Party’s ‘Pro-Family’ Agenda as Debate Intensifies
Concerns Grow Over Meningitis Risk Among UK Students Amid Warning Signs of New Outbreaks
×