Monday 29, October 2018 by Bloomberg

HSBC's Flint sees Saudi appetite unchanged by Khashoggi death


The HSBC boss joined chiefs of some of the world’s biggest banks in pulling out of an FII forum in Riyadh this month as pressure built on Saudi Arabia amid allegations it killed Khashoggi.

HSBC Holdings, one of the most active global banks in Saudi Arabia, says interest in doing business in the Kingdom will be unaffected by the furor over the murder of journalist Jamal Khashoggi.

John Flint, HSBC’s Chief Executive Officer, said, “Longer term impact on our appetite for Saudi Arabia, I do not think it has any impact, t’s an important part of the global economy.”

 In the emotion of the last few weeks, it’s been easy to forget that the world is very dependent on energy from Saudi Arabia and many other things, added Flint.

Investors vexed by Khashoggi-fate fracas said this too shall pass.

The London-based lender was represented by Samir Assaf, head of its global banking and markets division. The decision enabled HSBC “get to the right place,” Flint said and declined to comment on why he did not attend.

“It’s been a tough couple of weeks for the kingdom,” said Flint. “It’s been sad to watch this play out.”



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