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Banking chiefs say market vulnerable to 'geopolitical escalation', regulatory push

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Top global banking chiefs on Tuesday said they are concerned the financial sector's next crisis may come from rising geopolitical uncertainty which could test financial market resiliency, while the industry remains vulnerable to regulatory tightening.

UBS Chairman Colm Kelleher looks on during the Global Financial Leaders' Investment Summit, in Hong Kong, China November 7, 2023. REUTERS/Tyrone SiuHONG KONG, Nov 7 -

Gorman was among more than a dozen top executives of international firms speaking at the Global Financial Leaders Investment Summit hosted by the Hong Kong Monetary Authority. The comments come as an unfolding Israel-Gaza conflict adds uncertainty to the global economic outlook, while the Russia-Ukraine war drags on and Sino-U.S.CEO Christian Sewing said markets have largely been resilient in the face of global events but any calm was vulnerable to the risk of new events.

 

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