Saudi National Bank chair resigns in wake of Credit Suisse loss

The Bedouin man, who graduated from the George Washington University, whose comments helped to topple the Swiss bank!

"The chairman of top Credit Suisse shareholder Saudi National Bank (SNB)  has stepped down less than two weeks after making comments blamed for contributing to the Swiss lender's demise.

Ammar Al Khudairy said on March 15 that the biggest Saudi bank by assets could not buy more shares in Credit Suisse on regulatory grounds.

That helped trigger to a further sell-off in the Swiss bank's shares, exacerbating a crisis of confidence in the lender which saw clients pull out more than $110 billion in the final quarter of 2022."

Saudi National Bank chair resigns in wake of Credit Suisse loss | Reuters