MBS’s Credit Suisse Stake Isn’t Just Another Gulf Bank Rescue

As Credit Suisse Group AG is overhauled, the Saudis have swooped in to help. But the Swiss bank may end up playing its own rescue role, too.

The troubled lender, beset by scandals and losses, is striking deals to raise capital from outside investors and going back to its wealth-management roots. Saudi National Bank, or SNB, majority-owned by the kingdom’s Public Investment Fund and its largest lender, has…