HSBC Holdings Plc plans to hold a new flagship investor conference in Hong Kong next year to replace the marquee event now being dropped by Credit Suisse Group AG.

The London-headquartered bank is planning to hold an event at the upscale Conrad Hotel from April 8 to 10 in the Central business district, historically the venue for Credit Suisse’s annual Asian Investment Conference. HSBC is expecting to host more than 2,000 clients and investors, pivoting off the bank-sponsored Hong Kong Rugby Sevens from April 5 to 7.

“We will bring together clients, investors and thoughtful leaders from all around the world to discuss developments, challenges and, most of all, opportunities,” a spokesperson for the bank said.

The move comes as Hong Kong authorities are seeking to resurrect the city after years of Covid restrictions and a crackdown on civil liberties that has transformed the once freewheeling financial hub.

As the dominant bank in the city, HSBC has had to walk a tightrope between an increasingly authoritarian regime and criticism from western lawmakers and activists in the city over its endorsement of a Beijing-imposed national security law.

The lender has also been fighting off pressure from its largest shareholder, China’s Ping An Insurance Group Co., to split off its Asian operations to boost profitability.

Credit Suisse, which is being bought by Swiss rival UBS Group AG, had hosted the annual conference since 1998.