Riyadh: BlackRock said Saudi Aramco CEO Amin Nasser is joining its board, reflecting the asset manager’s commitment to the Middle East as part of its long-term strategy.
Nasser has led the world’s biggest oil producer since 2015, including overseeing its public listing, and provides BlackRock with “a unique perspective” on key issues facing the company and its clients, CEO Larry Fink said Monday in an emailed statement.
“His leadership experience, understanding of the global energy industry and the drivers of the shift toward a low-carbon economy, as well as his knowledge of the Middle East region, will all contribute meaningfully to the BlackRock board dialogue,” Fink said in the statement.
Bader Al-Saad, director general and chairman of the Arab Fund for Economic and Social Development, won’t stand for re-election to BlackRock’s board next year, according to the statement.
Nasser serves on several boards, including the Massachusetts Institute of Technology Presidential CEO Advisory Board and the JP Morgan International Council.
BlackRock, the world’s biggest asset manager, has a $2.4 billion interest in the oil producer.