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.
He will be replaced by SNB Managing Director and group CEO Mohammed al-Ghamdi.
Al-Khudairy's resignation comes within days of his mid-March comments that SNB was unlikely to increase its stake in Credit Suisse, at a time when the European lender battled a crisis of investor confidence that plunged its shares. The Saudi National Bank headquarters beyond the King Abdullah Financial District Conference Center in the King Abdullah Financial District in Riyadh, Saudi Arabia, on Tuesday, Dec. 6, 2022.
The comments fueled investor panic, sinking Credit Suisse shares 24% during that session, despite effectively reiterating SNB's previous position that it did not intend to expand its holdings beyond its then 9.9% interest as Credit Suisse's largest shareholder.
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