Global financial elites are increasingly concerned about going to Saudi Arabia next week to attend this high-profile conference of business executives and investors. They need to weigh their own security risks, and at the same time worry that this move will annoy host Saudi Arabia. “Desert Davos” refers to the “Future Investment Initiative” conference held by Saudi Arabia every year in the capital Riyadh. The 2026 conference is scheduled to be held in Riyadh from October 26th to 29th. People familiar with the matter said that some bankers and executives of J.P. Morgan Chase and Citigroup are carefully evaluating their trips to the conference, and some have already cancelled the relevant meeting arrangements. Both organizations have yet to make an official decision to participate in the conference. Sources said that J.P. Morgan Chase's Jamie Dimon and Citi's Jane Fraser teams are actively discussing whether to attend the conference and are concerned about safety risks. The two CEOs were scheduled to attend this meeting. A J.P. Morgan spokesperson declined to comment. A Citibank spokeswoman said, “We are closely monitoring the development of the situation.” Wall Street executives are discussing a response plan with the security team, according to people familiar with the matter. Their main concerns include that Riyadh Airport has already been attacked, and that some well-known hotels and landmark buildings around the conference are likely to become key targets.

Global financial elites are increasingly concerned about going to Saudi Arabia next week to attend this high-profile conference of business executives and investors. They need to weigh their own security risks, and at the same time worry that this move will annoy host Saudi Arabia. “Desert Davos” refers to the “Future Investment Initiative” conference held by Saudi Arabia every year in the capital Riyadh. The 2026 conference is scheduled to be held in Riyadh from October 26th to 29th. People familiar with the matter said that some bankers and executives of J.P. Morgan Chase and Citigroup are carefully evaluating their trips to the conference, and some have already cancelled the relevant meeting arrangements. Both organizations have yet to make an official decision to participate in the conference. Sources said that J.P. Morgan Chase's Jamie Dimon and Citi's Jane Fraser teams are actively discussing whether to attend the conference and are concerned about safety risks. The two CEOs were scheduled to attend this meeting. A J.P. Morgan spokesperson declined to comment. A Citibank spokeswoman said, “We are closely monitoring the development of the situation.” Wall Street executives are discussing a response plan with the security team, according to people familiar with the matter. Their main concerns include that Riyadh Airport has already been attacked, and that some well-known hotels and landmark buildings around the conference are likely to become key targets.