Credit Suisse Leans on Saudi Money to Backstop Revamp Plans
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One of Credit Suisse Group AG’s biggest rescue packages is coming from an unexpected corner of Saudi Arabia.
Saudi National Bank, the kingdom’s largest lender -- but one without much of a presence until now -- is set to become one of the Swiss bank’s biggest shareholders alongside Harris Associates with a 9.9% stake as part of a sweeping $4 billion overhaul.