Saudi National Bank chair resigns after Credit Suisse remark

Ammar Al Khudairy had ruled out fresh investments in the Swiss lender as it grappled with its finances

The Swiss bank’s stock plunged to the lowest level on record following Al Khudairy’s comments. Picture: Getty

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 Financial Group, is leaving “due to personal reasons,” according to a statement released ...