Citigroup CEO Jane Fraser named U.S.-Saudi Business Council co-chair

Group 1 - Citigroup CEO Jane Fraser has been appointed as the U.S. co-chair of the U.S.-Saudi Business Council, replacing Steve Demetriou [1] - Lubna Olayan, chair of the Olayan Group, has been named co-chair representing Saudi Arabia [1] - The council, founded in 1993, aims to enhance bilateral business ties between Saudi Arabia and the United States [2] Group 2 - The appointments are part of Saudi Arabia's efforts to attract foreign investment to support Crown Prince Mohammed bin Salman's economic diversification plans [2] - Earlier this year, a $600 billion commitment from Saudi Arabia to invest in the U.S. was announced, alongside $142 billion in U.S. arms sales to the kingdom [3] - Under Fraser's leadership, Citigroup has expanded its presence in Saudi Arabia and secured a license for its regional headquarters in the kingdom [3] Group 3 - Fraser is also involved with several influential organizations, including the Council on Foreign Relations and the Business Roundtable [4]