Saudi Arabia's isolation in the global business world deepened Tuesday as three of Europe's top bankers joined a growing list of executives who have pulled out of a high-profile investment conference in Riyadh next week.
A spokesperson for HSBC (HSBC) said its CEO, John Flint, would not attend the Future Investment Initiative, and a person familiar with the situation said Credit Suisse (CS) CEO Tidjane Thiam would no longer be going.
Both executives were previously listed as speakers and both banks were strategic partners for the event. Neither bank would comment on the status of the partnerships.
Standard Chartered (SCBFF) CEO Bill Winters has also withdrawn, a spokesperson for the British bank said.