Saudi National Bank Chairman Ammar Al Khudairy is stepping down “due to personal reasons.”
The outgoing chairman had declared during a Bloomberg Television appearance that the Saudi National Bank, Credit Suisse’s biggest shareholder, would not consider pouring more money into the Swiss banking giant.“The answer is absolutely not, for many reasons outside the simplest reason, which is regulatory and statutory,” Al Khudairy said in the March 15 interview.
The bank had faced a crisis of confidence among investors after top executives admitted to “material weaknesses” in its financial reporting practices over the last two years.
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