Saudi National Bank Chairman Resigns Over Credit Suisse Comment

Ammar Al Khudairy, the chairman of Saudi National Bank, has resigned due to personal reasons just days after his comments helped spark a slump in Credit Suisse's shares. Al Khudairy's comments that Saudi National Bank would not be open to further investments in Credit Suisse if there was another call for additional liquidity caused the Swiss bank's stock to plunge to the lowest level on record. UBS later agreed to buy Credit Suisse in a government-brokered deal aimed at containing a crisis of confidence that had started to spread across global financial markets.