Saudi Aramco CEO Amin Nasser – BlackRock’s newest board member

BlackRock, the world’s leading asset manager with over $9.4 trillion assets under management at the end of June, has announced a significant addition to its board of directors. Amin H. Nasser, President and CEO of Saudi Aramco, will join the board — which is effective immediately.

Amin Nasser has been at the helm of Aramco since 2015 and managed the public listing of the oil giant in 2019. Nasser joined the state-run oil giant Saudi Aramco in 1982 as a petroleum engineer, rising the ranks to become CEO in 2015. Four years later, the Saudi national led the company’s blockbuster public listing, raising $25.6 billion in the world’s biggest-ever IPO. His appointment to BlackRock’s board represents a substantial convergence of leadership in the financial and energy sectors.

“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,” Larry Fink, chairman and CEO of BlackRock, said in a statement.

“His leadership experience, understanding of the global energy industry and the drivers of the shift towards a low carbon economy, as well as his knowledge of the Middle East region, will all contribute meaningfully to the BlackRock Board dialogue,” Fink added.

Saudi Aramco is the world’s largest oil producer, with a market capitalization of $2.1 trillion. Last year, the firm posted a record annual profit of $161 billion — up 46% from the year before.