Woman appointed to run Saudi listed bank for first time in country's history

Culture & Entertainment
Lubna Olayan. Image: REUTERS/Fahad Shadeed

 

Businesswoman Lubna Al Olayan has been appointed to run a publically traded bank in Saudi Arabia for the first time ever.

Lubna who was the deputy chair of Alawwal Bank for four years will now lead a bank that will be the third-largest lender in the kingdom following the merger of Saudi British Bank (SABB) and Alwwaal Bank.

Lubna is the CEO of Olayan Group and has also worked for Morgan Gauranty New York from 1979 to 1981, after which she returned to Saudi to work again with Olayan Group.

In 2004, Lubna was elected to the board of the Saudi Hollandi Bank, becoming the first woman in the country to feature on the board of a public company. Recently, she topped the list of Forbes’ Middle East’s most influential women of 2018.

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