Skip to content Skip to Search
Skip navigation

BlackRock appoints Aramco CEO as board director

Aramco CEO Amin Nasser Reuters/Hamad I Mohammed
President and CEO Amin Nasser oversaw the successful public listing of Saudi Aramco in 2019, the largest IPO in history

BlackRock, the world’s largest asset manager, has named Amin Nasser, president and CEO of Saudi Arabian Oil Company (Aramco), as an independent director.

The appointment reflects the importance of the Middle East to the firm’s long-term strategy, it said in a statement.

Nasser oversaw the successful public listing of the Saudi oil company in 2019, the largest IPO in history. 

He joined Aramco in 1982 as a petroleum engineer and later held vice president and executive roles in its upstream business. Nasser has held a board seat since 2010. 

He is leading Aramco’s efforts to produce cleaner energy and products through investments in new technologies such as crude oil-to-chemicals processes and renewable energy applications. 

Laurence D. Fink, chairman and CEO of BlackRock, said: “Amin’s distinguished career at Aramco, spanning more than four decades, gives him a unique perspective on many of the key issues facing our firm and our clients.”

BlackRock now has 17 board members, of which 15 are independent and five are women. One-third of BlackRock’s directors have been newly elected over the past five years.

The US-based investment firm established a wholy-owned Saudi subsidiary in 2018, opened an office in Riyadh in 2019 and in February 2022 received approval from the market regulator to start managing investments and operating funds in the kingdom.

Its other offices in the Middle East and Africa are in Dubai, Tel Aviv and Cape Town.

“We’re not only just seeing clients in the old geographic footprint, we’re seeing new clients expanding geographically. More and more client flows now in Europe, much more in the Middle East,” Fink earlier said.

Latest articles

PIF's Starbucks shareholdings were cut almost by half from 6.3 million shares to 3.8 million

PIF slashes Starbucks stake as it cuts US stocks by $15bn

Saudi Arabia’s Public Investment Fund (PIF) has slashed its US equity holdings by 42 percent to $20.6 billion, including its stake in Starbucks, the global coffee chain that has suffered calls for a boycott as a result of the Gaza conflict. The latest US government data highlights funding challenges facing the Saudi giga-projects.  The filing […]

Tunisia olives

Soaring olive oil exports help Tunisia balance books

Tunisia’s soaring olive oil exports have almost doubled to close to $1 billion in just five months, helping it claw back its current account deficit.   However the increased revenues merely “paint over the cracks” and the country is still probably heading towards a sovereign default, according to an economic expert. Tunisia’s current account deficit narrowed […]

Saudi aluminium producer Talco is offering 12 million shares

Aluminium producer Talco announces Saudi IPO

Aluminium producer Al Taiseer Group Talco Industrial Company (Talco) is the latest entity to reveal initial public offering (IPO) plans in Saudi Arabia. The Riyadh-based company, which was set up in 2009, is offering 12 million shares, a 30 percent stake, on the Saudi Exchange (Tadawul) at a nominal value of SAR10 ($2.67) per share. […]

One of the four restaurants in the Palazzo Versace Dubai hotel, which is listed on the Emirates Auction website

Palazzo Versace hotel sale aims to ride Dubai tourism wave

Owners of Dubai’s ultra-luxurious Palazzo Versace hotel are looking to capitalise on the emirate’s tourism boom before it peaks, offering it for sale at nearly AED1.4 billion ($380 million). A source familiar with the asset told AGBI the hotel is being “readvertised” as it has not found a buyer willing to meet its price tag […]