Saudi National Bank chair resigns after Credit Suisse remark

By Matthew Martin and Nicolas Parasie

27 Mar 2023 · 3 min read

The investor whose comments triggered a selloff at Credit Suisse has resigned from his job, Bloomberg reports. Ammar Al Khudairy was chairman of Saudi National Bank, the lender's largest shareholder.

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Ammar Al Khudairy, the chairman of Credit Suisse's largest shareholder, has resigned just days after his comments helped trigger a slump in the stock and bonds that prompted the Swiss government to step in and arrange its takeover.

Al Khudairy, who became chairman of Saudi National Bank in 2021 when it was created via a merger of National Commercial Bank and Samba, is leaving "due to personal reasons," according to a statement on Monday.

The news, curated.

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