Saudi National Bank chairman resigns after Credit Suisse loss

Salim A. Essaid

Mar 27, 2023

The logo of the Saudi National Bank (SNB) can be seen at a branch in Riyadh on March 27, 2023, after the chairman of SNB, the main shareholder of troubled lender Credit Suisse which was bought out this month, resigned. — FAYEZ NURELDINE/AFP via Getty Images

Saudi National Bank, which was the largest shareholder in Credit Suisse, named a new chairman on Monday following the former head's resignation weeks after comments he made helped propel the plunge of the beleaguered Swiss bank's share price.

Ammar Al Khudairy resigned as chairman of SNB due to "personal reasons," according to a statement from the bank. Current CEO Saeed Mohammed Al Ghamdi will take over as the new chairman on March 27, with deputy CEO Talal Ahmed Al Khereiji filling his place.