London Daily

Focus on the big picture.
Sunday, Nov 16, 2025

"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

0:00
0:00
Close
Nearly Half of Job Losses Under Labour Government Affect UK Youth
UK Chancellor Reeves Eyes High-Value Home Levy in Budget to Raise Tens of Billions
UK Urges Poland to Choose Swedish Submarines in Multi-Billion € Defence Bid
US Border Czar Tom Homan Declares UK No Longer a ‘Friend’ Amid Intelligence Rift
UK Announces Reversal of Income Tax Hike Plans Ahead of Budget
Starmer Faces Mounting Turmoil as Leaked Briefings Ignite Leadership Plot Rumours
UK Commentator Sami Hamdi Returns Home After US Visa Revocation and Detention
UK Eyes Denmark-Style Asylum Rules in Major Migration Shift
UK Signals Intelligence Freeze Amid US Maritime Drug-Strike Campaign
TikTok Awards UK & Ireland 2025 Celebrates Top Creators Including Max Klymenko as Creator of the Year
UK Growth Nearly Stalls at 0.1% in Q3 as Cyberattack Halts Car Production
Apple Denied Permission to Appeal UK App Store Ruling, Faces Over £1bn Liability
UK Chooses Wylfa for First Small Modular Reactors, Drawing Sharp U.S. Objection
Starmer Faces Growing Labour Backlash as Briefing Sparks Authority Crisis
Reform UK Withdraws from BBC Documentary Amid Legal Storm Over Trump Speech Edit
UK Prime Minister Attempts to Reassert Authority Amid Internal Labour Leadership Drama
UK Upholds Firm Rules on Stablecoins to Shield Financial System
Brussels Divided as UK-EU Reset Stalls Over Budget Access
Prince Harry’s Remembrance Day Essay Expresses Strong Regret at Leaving Britain
UK Unemployment Hits 5% as Wage Growth Slows, Paving Way for Bank of England Rate Cut
Starmer Warns of Resurgent Racism in UK Politics as He Vows Child-Poverty Reforms
UK Grocery Inflation Slows to 4.7% as Supermarkets Launch Pre-Christmas Promotions
UK Government Backs the BBC amid Editing Scandal and Trump Threat of Legal Action
UK Assessment Mis-Estimated Fallout From Palestine Action Ban, Records Reveal
UK Halts Intelligence Sharing with US Amid Lethal Boat-Strike Concerns
King Charles III Leads Britain in Remembrance Sunday Tribute to War Dead
UK Retail Sales Growth Slows as Households Hold Back Ahead of Black Friday and Budget
Shell Pulls Out of Two UK Floating Wind Projects Amid Renewables Retreat
Viagogo Hit With £15 Million Tax Bill After HMRC Transfer-Pricing Inquiry
Jaguar Land Rover Cyberattack Pinches UK GDP, Bank of England Says
UK and Germany Sound Alarm on Russian-Satellite Threat to Critical Infrastructure
Former Prince Andrew Faces U.S. Congressional Request for Testimony Amid Brexit of Royal Title
BBC Director-General Tim Davie and News CEO Deborah Turness Resign Amid Editing Controversy
Tom Cruise Arrives by Helicopter at UK Scientology Fundraiser Amid Local Protests
Prince Andrew and Sarah Ferguson Face Fresh UK Probes Amid Royal Fallout
Mothers Link Teen Suicides to AI Chatbots in Growing Legal Battle
UK Government to Mirror Denmark’s Tough Immigration Framework in Major Policy Shift
UK Government Turns to Denmark-Style Immigration Reforms to Overhaul Border Rules
UK Chancellor Warned Against Cutting Insulation Funding as Budget Looms
UK Tenant Complaints Hit Record Levels as Rental Sector Faces Mounting Pressure
Apple to Pay Google About One Billion Dollars Annually for Gemini AI to Power Next-Generation Siri
UK Signals Major Shift as Nuclear Arms Race Looms
BBC’s « Celebrity Traitors UK » Finale Breaks Records with 11.1 Million Viewers
UK Spy Case Collapse Highlights Implications for UK-Taiwan Strategic Alignment
On the Road to the Oscars? Meghan Markle to Star in a New Film
A Vote Worth a Trillion Dollars: Elon Musk’s Defining Day
AI Researchers Claim Human-Level General Intelligence Is Already Here
President Donald Trump Challenges Nigeria with Military Options Over Alleged Christian Killings
Nancy Pelosi Finally Announces She Will Not Seek Re-Election, Signalling End of Long Congressional Career
UK Pre-Budget Blues and Rate-Cut Concerns Pile Pressure on Pound
×