Saudi Chairman of Credit Suisse’s Largest Investor Resigns

DUBAI—The chairman of Credit Suisse Group AG’s largest shareholder has resigned 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 a takeover by rival UBS Group AG.

Ammar al-Khudairy, the chairman of Saudi National Bank, is leaving for personal reasons and will be succeeded by Chief Executive Saeed Mohammed al-Ghamdi, the bank said on Monday. It didn’t say whether the resignation was tied to Mr. Khudairy’s comments on SNB’s investment in Credit Suisse.