Woman appointed to run Saudi Arabian bank for first time in country's history
A woman has been appointed to run a Saudi Arabian bank for the first time in the countryâs history.
Lubna Al Olayan, a Saudi businesswoman, will lead a new lender that has been formed after the merger between Alawwal Bank and Saudi British Bank.
Ms Olayan, 63, has been the deputy chair of Alawwal Bank for four years and will now lead a bank that is the third-largest lender in Saudi Arabia.
The new bank will be part own ed by HSBC and have a capitalisation of Â£13.2bn.
Ms Olayan has long been a pioneer for women in Saudi Arabia. In 2004 she was elected to the board of Saudi Hollandi Bank, becoming the first woman in the country to feature on the board of a public company.
In the same year she was the first Saudi woman to give the keynote speech at the Jeddah Economic Forum and 12 months later she co-chaired the World Economic Forum in Davos, Switzerland.
Ms Olayan has frequently appeared in a range of âmost influentialâ lists and in 2018 she top ped the ranking of Forbes Middle Eastâs most influential women.