Saudi Gazette report

RIYADH — The US-Saudi Business Council announced the appointment of two prominent leaders as co-chairs of its board of directors.

Jane Fraser, CEO of Citigroup, has been named co-chair representing the US side, while Lubna Olayan, Chair of Olayan Group, will serve as co-chair representing Saudi Arabia.

Fraser succeeds Steve Demetriou, former CEO of Jacobs Engineering Group, who held the position from 2018 to 2024.

Charles Halaby, president and CEO of the US-Saudi Business Council, said the combined vision and expertise of Fraser and Olayan “will be invaluable as we shape the next chapter of US-Saudi commercial relations.”

Under Fraser’s leadership, Citigroup has expanded its presence in Saudi Arabia, securing a license last year to establish its regional headquarters in the Kingdom.

Established in 1993, the US-Saudi Business Council works to strengthen bilateral trade and investment relations between the two nations.