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Credit Suisse forum holds invite-only K-pop girl band concert
[SINGAPORE] In an attempt to lure investors, Credit Suisse Group AG is using the "show don't tell" technique at its Asia conference this year.
And one of its tactics is an invite-only concert by K-pop girl band Red Velvet. The South Korean group is set to perform Tuesday evening after the chief executive officer of South Korean entertainment company S.M. Entertainment Co. - which represents the five-member band - talks about "cultural technology." This isn't the first time K-pop has been used as a way to attract investors. In January, Daiwa Capital Markets Hong Kong Ltd. power sector analyst Dennis Ip posted a video of himself dancing to a song by South Korean boy band Big Bang in order to get votes in the annual Institutional Investor survey.
The "Big 3" entertainment agencies in Korea have had a strong start to the year as JYP Entertainment Corp. surged 54 per cent, overtaking YG Entertainment Inc. to become the second most valuable company in the group. S.M. Entertainment leads with a 28 per cent rally in 2018.
"A lot of these conferences try to outdo each other at these things. It's a nice touch though. A lot of people do travel far and it's a nice bit of entertainment," said Adam Montanaro, fund manager with Aberdeen Asset Management. Montanaro is at the Credit Suisse conference today but won't be attending the concert.
During the four-day conference, the bank will also have a Credit Suisse Lounge for participants to get a feel of some "old and new forms" of technology disruptions including a virtual reality tennis match with the bank's brand ambassador Roger Federer, and an area to make your own smoothie by pedaling on a stationary bike.
Others presenting at the conference include Reince Priebus, the former Chief of Staff for U.S. President Donald Trump, Snap Inc. Chief Strategy Officer Imran Khan and Standard Chartered Plc's Chief Executive Officer Bill Winters.