BATON ROUGE, LOUISIANA (By Steve Stewart, Energy Analytics Institute, 21.Oct.2025, Words: 440) — The US-Saudi Business Council announced appointment of Ms. Lubna S. Olayan, chair of the corporate board of The Olayan Group, and Ms. Jane Fraser, chief executive officer of Citi, as co-chairs of the Council’s board of directors, representing Saudi Arabia and the US, respectively.
In their roles, Olayan and Fraser will provide strategic direction and leadership to advance the Council’s mission as the organizational hub and champion of bilateral business between the US and Saudi Arabia. Their appointments come at a pivotal moment as Saudi Arabia accelerates toward Vision 2030, creating new opportunities for investment and partnership between US and Saudi businesses across a variety of sectors.
Olayan succeeds Abdallah S. Jum’ah, former CEO of ARAMCO and chairman of Saudi Investment Bank, who served as Saudi co-chair since 2015.
Fraser succeeds Steve Demetriou, former CEO of Jacobs Engineering Group, who served as US co-chair from 2018 to 2024.
Olayan background
Olayan brings decades of leadership and expertise in advancing US-Saudi economic collaboration. In addition to serving as chair of The Olayan Group, she also serves as chair of the board of Saudi Awwal Bank (SAB).
Olayan is currently a member of several international advisory boards, including those of Akbank, Bank of America, Hakluyt, Hong Kong Exchanges and Clearing Limited (HKEX), and TotalEnergies. She is a senior advisor at Chatham House, and sits on the global board of advisors at the Council on Foreign Relations (CFR).
She also serves as a trustee of MIT and the World Economic Forum, is a member of the Asia Business Council, and a director of the Philanthropy Asia Alliance (PAA) of Temasek Trust.
Her other philanthropic positions include serving as president of the Suliman S. Olayan Foundation and chair of Alfanar, a UK based charity and the first venture philanthropy organization in the Arab world.
Fraser background
Fraser, who will serve as the Council’s US co-chair. Under her leadership, Citi has reinforced its significant and strategic presence in Saudi Arabia, further connecting the country to the global economy, expanding operations, and actively investing in growing local talent.
Over more than 2 decades at Citi, Fraser has held senior leadership roles spanning global consumer and institutional businesses. Beyond Citi, she serves on the boards of the Business Roundtable, the Council on Foreign Relations, and the Partnership for New York City. She also is a member of the group of 30 and chairs the Financial Services Forum. Fraser holds an M.B.A. from Harvard Business School and an M.A. in economics from Cambridge University.
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By Steve Stewart reporting from Baton Rouge. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
