Fraser replaces Steve Demetriou, former CEO of engineering contractor Jacobs, who held the role from 2018 to 2024.<\/p>\n
The U.S.-Saudi Business Council has named Citigroup<\/a> CEO Jane Fraser as U.S. co-chair of its board, representing the United States.<\/p>\n Fraser replaces Steve Demetriou, former CEO of engineering contractor Jacobs, who held the role from 2018 to 2024.<\/p>\n Lubna Olayan, chair of the Olayan Group, was also named co-chair representing Saudi Arabia.<\/p>\n Founded in 1993 as a spin-off of the U.S.-Saudi Arabian Joint Economic Commission, the council promotes bilateral business ties between Saudi Arabia and the United States.<\/p>\n “Their combined vision and expertise will be invaluable as we define the next chapter of U.S.-Saudi business relations,” President and CEO Charles Hallab said.<\/p>\n The appointments come as Saudi Arabia seeks to attract foreign investment to fund Crown Prince Mohammed bin Salman’s ambitious economic diversification plans.<\/p>\n Earlier this year, U.S. President Donald Trump made a four-day Gulf trip that brought a $600 billion Saudi commitment to invest in the United States and $142 billion in U.S. arms sales to the kingdom, as Riyadh steps up efforts to attract foreign investment.<\/p>\n