Published: 15:42, February 5, 2020 | Updated: 08:17, June 6, 2023
Credit Suisse scraps Hong Kong conference on virus outbreak
By Bloomberg

A Credit Suisse logo sits on the windows of a Credit Suisse Group AG bank branch in Zurich, Switzerland, on Oct 30, 2019. (STEFAN WERMUTH/BLOOMBERG)

Credit Suisse Group AG scrapped its annual Asia investment conference next month, adding to a string of cancellations or delays for similar gatherings in the Hong Kong Special Administrative Region and Chinese mainland, as the spread of the coronavirus shows no sign of abating.

The Zurich-based private bank, which planned to hold the conference on March 25-27 at the city’s Conrad Hotel, informed investors on Tuesday it is canceling the event.

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The Zurich-based private bank, which planned to hold the Asian Investment Conference on March 25-27 at the city’s Conrad Hotel, informed investors on Tuesday it is canceling the event

“In view of the continued health and safety risks caused by the coronavirus, we have taken the decision to cancel this year’s Asian Investment Conference,” a spokeswoman said in an email.

The decision marks the biggest cancellation in Hong Kong’s financial industry after the outbreak of the virus. The city on Tuesday reported its first confirmed death from the virus, the second fatality outside Chinese mainland, where the number of cases has topped 24,000. The Macao Special Administrative Region, the world’s biggest gambling hub, has asked its casinos to shut down for half a month.

Separately, the annual Fund Managers’, Asian Bankers’ and Brokers’ Awards set for later this month has been postponed to March, said Sean Alexander, a representative for the organizer. The decision came after some attendees chose to remain overseas with Hong Kong schools remaining shut until March 3.

Meanwhile, several other conferences slated to happen in the Chinese mainland and the Hong Kong SAR in February and March have been either postponed or canceled due to the coronavirus outbreak.

The two-day AVCJ China Forum, which host more than 430 fund managers and was scheduled in Beijing for mid-March, has been postponed until September, according to a Hong Kong-based spokeswoman. And Fitch Ratings’ Credit Outlook 2020 Conference in Hong Kong planned for Feb 11 was scrapped and the ratings agency will host live webinars instead, it said in an email to potential attendees.

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The virus also prompted trade journal HFM to postpone a planned conference for hedge fund chief operating officers in Macao, according to another email sent to potential attendees. The HFM Asia Operational Leaders’ Summit 2020 was to take place on Feb 19 and Feb 20 and will be rescheduled to later this year.