Saudi National Bank chair resigns after Credit Suisse remarks

clock • 1 min read

The chair of the Saudi National Bank Ammar bin Abdul Wahed Al-Khudairi has left the bank, it said in a regulatory filing. Managing director and CEO Saeed bin Muhammad Al-Ghamdi will succeed as chair, while executive vice president Talal bin Ahmend Al-Khereiji will become CEO. The move followed comments by Al-Khudairi about SNB's 9.9% stake in ownership of Credit Suisse. In a television interview with Bloomberg, he said that SNB was not going to provide any more financial assistance to the Swiss bank, as buying any more shares would have pushed SNB over its 10% limit and caused a "r...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?