Wall Street Embraces #Saudi Bid for Rehabilitation at Davos - Bloomberg

Wall Street Embraces Saudi Bid for Rehabilitation at Davos - Bloomberg:

As Davos delegates walk to their meetings, they’re overlooked by the largest billboard in town. The message mixes confidence and defiance -- "Invest Saudi: The Future-Forward Economy."

Only three months ago, the global elite largely shunned Saudi Arabia’s own version of Davos after the murder of Jamal Khashoggi. Now, Riyadh is using the real thing to attempt a reconciliation with the business world, making nice in the Swiss mountain resort’s universal language: money. Plans for economic reform, big capital market deals and global investments mean A-list bankers and executives are inclined to listen.

At an event where success is often measured by who’s seen at a reception or speaks on a panel, the Saudis aren’t getting the cold shoulder any more. James Gorman, the head of Morgan Stanley, spoke on Thursday in a debate alongside two Saudi ministers. And the likes of Jamie Dimon of JPMorgan Chase & Co. and John Flint of HSBC Holdings Plc attended the annual Davos party thrown by Saudi oil giant Aramco, according to a person present.