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| Arabia |
| Saudi Bank Chief Resigns After Credit Suisse Comment Triggers Share Price Collapse |
| 2023-03-28 |
[PUBLISH.TWITTER]
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| Posted by:Fred |
| #1 Guardian: Saudi National Bank chair resigns... Ammar Al Khudairy’s remarks about Swiss lender spurred investor panic that led to emergency takeover. Mon 27 Mar 2023 The chair of the Saudi National Bank has resigned for “personal reasons” less than two weeks after his comments spurred investor panic over Credit Suisse that ended in an emergency takeover by its larger Swiss rival, UBS. The Saudi National Bank (SNB), which was Credit Suisse’s largest shareholder, announced on Monday that it had “accepted” Ammar Al Khudairy’s resignation, and that he would be immediately replaced by its chief executive. The Middle Eastern bank gave little detail regarding the swift replacement, saying only that Al Khudairy was stepping down “due to personal reasons”, according to a statement released to the Saudi stock exchange. |
| Posted by: Slavising Unineting5672 2023-03-28 09:13 |