The “stone of the scandal” of Credit Suisse Bank, the Saudi resigned Amar Al Qudayri, head of the Swiss bank’s previously largest investor, who had declared that “there is no way they will put a penny more into a capital increase”, sparking the beginning of the end of the Swiss giant.

Amar Al Qudayri, was its president Saudi National Bank, (National Bank of Saudi Arabia), and tendered his resignation days after his comments sent the bank’s shares plummeting, eventually leading to a takeover by UBS.

Al Qudayri, who became chairman of National Bank of Saudi Arabia in 2021 when it was created through the merger of National Commercial Bank and Samba Financial Group, is stepping down “for personal reasons” and will be replaced by CEO Saed Mohammed al-Ghamdi, according to a statement issued on Monday.

Asked about it in an interview on Bloomberg TV earlier this month, he had said he was categorically opposed to further investment in Credit Suisse if there was a request for additional liquidity.