The CEO of Credit Suisse Group AG's Saudi Arabian business, Abdulaziz Bin Hassan, has resigned, Arabian Business reported Dec. 24, citing people familiar with the matter.

Bin Hassan is likely to leave in 2019, the people said.

The company intends to grow its equities business in the Middle East region after scaling it back a number of years ago during a slump in trading, according to the report. Since October, the Swiss company has reportedly taken on board three ex-Bank of America Corp. bankers to work in the region.