Saudi National Bank Chair Resigns Just Days After Credit Suisse Comments Sparked Sell-Off
Headline from NBC New York
Al-Khudairy’s resignation comes days after his comments fueled investor panic and contributed to a selloff in the shares of embattled lender Credit Suisse.
NBC New York's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
Al-Khudairy’s resignation comes days after his comments fueled investor panic and contributed to a selloff in the shares of embattled lender Credit Suisse.
The chairman of Credit Suisse's largest shareholder, Saudi National Bank, has resigned less than two weeks after comments he made about the Swiss lender accelerated a plunge in its share price.
The chairman of Credit Suisse’s largest shareholder helped trigger a calamitous drop in share price when he ruled out pumping more cash into the ailing bank.
Ammar al-Khudairy stepped down less than two weeks after his comments set off a panic with the European lender’s shareholders that eventually led the Swiss government to engineer an emergency takeover by UBS.
