Despite the ongoing Israel-Hamas conflict and rising instability in the region, a number of senior bankers and financiers are still expected to attend Saudi Arabia’s high-profile investment conference next week. The conference, known as the Future Investment Initiative or “Davos in the Desert,” has a reputation for attracting influential individuals from the financial world, even in times of tension between Saudi Arabia and the West. The event is particularly appealing due to the significant presence of the region’s sovereign wealth fund, the Public Investment Fund, chaired by Crown Prince Mohammed bin Salman. Middle Eastern money has become increasingly important for asset managers and bank underwriters as North American and European investors have grown cautious in volatile markets.
Although between 10 and 20 people have pulled out of the conference, the majority are still planning to attend. Some individuals have cited safety concerns or insurance coverage issues as reasons for cancellation, but many will provide video messages instead. The event’s organizer, Richard Attias, believes that the impact of conflicts, not only in the region but also in Ukraine, will be addressed during the sessions. He also mentioned that the FII continues to receive high interest from investors worldwide who want to understand the “new Middle East.” Despite some doubts, Wall Street banks have informally checked with the US state department and received no discouragement from attending the conference.
In conclusion, the Future Investment Initiative in Saudi Arabia is still expected to have a strong turnout from senior bankers and financiers, despite the current regional instability caused by the Israel-Hamas conflict. The conference’s reputation for attracting important figures in the financial world is largely due to the presence of the Public Investment Fund, one of the region’s most active sovereign wealth funds. Middle Eastern money has become increasingly valuable to asset managers and bank underwriters as North American and European investors have become more cautious. While some attendees have cancelled due to safety concerns or insurance issues, the majority will still participate, either in person or through video messages. The event’s organizer expects that the impact of conflicts, including the situation in Ukraine, will be addressed during the conference sessions. Overall, Wall Street banks have received no discouragement from attending, ensuring a successful event despite the challenging circumstances.
