Riyadh: The US-Saudi Business Council has announced the appointment of two distinguished business leaders as co-chairs of its board of directors. Jane Fraser, CEO of Citigroup, will serve as the co-chair representing the United States, while Lubna Olayan, Chair of the Olayan Group, will represent Saudi Arabia. Fraser succeeds Steve Demetriou, former CEO of Jacobs Engineering Group, who served in the role from 2018 to 2024.
Charles Halaby, President and CEO of the Council, praised the appointments, noting that the combined experience and leadership of Fraser and Olayan will play a vital role in advancing the next phase of US-Saudi commercial cooperation.
Under Fraser’s leadership, Citigroup has strengthened its presence in Saudi Arabia, obtaining a license last year to set up its regional headquarters in the Kingdom.
Founded in 1993, the US-Saudi Business Council continues to foster stronger trade, investment, and economic partnerships between the two nations. The new appointments come at a time of increasing collaboration across sectors including energy, finance, and technology. Analysts say the move reflects growing confidence in Saudi Arabia’s evolving business landscape under Vision 2030.
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