The legacy of Lubna Suleiman Al Olayan
In a groundbreaking moment for women in business, Lubna Suleiman Al Olayan made history in 2004 by becoming the first woman to join the board of a Saudi publicly listed company: Alawwal Bank .This pivotal achievement marked a significant step towards gender equality in a traditionally male-dominated arena, inspiring many women to pursue leadership roles in the Middle East and beyond.
Trailblazer at Alawwal Bank Bank
Al Olayan’s influence did not stop with her board appointment. In 2018, she was selected to lead the newly formed entity resulting from the merger between the Saudi British Bank (SABB) and Alawwal Bank. This appointment made her the first Saudi woman to serve as the CEO of a bank, a remarkable milestone that showcased her exceptional leadership skills and vision for the future of banking in Saudi Arabia. Currently, she serves as the Non-Executive Chairman at Saudi Alawwal Bank SAB further solidifying her leadership role in the industry.
A Legacy of Leadership at Olayan Financing Company
Before her historic appointments in the banking sector, Al Olayan was already a prominent figure in business. She served as CEO of Olayan Financing Company from 2011 to 2019, where she played a crucial role in expanding the companyโs operations and influence across various sectors.
Continued Influence and Global Engagement
Al Olayanโs impact extends beyond the borders of Saudi Arabia. In September 2021, she was appointed to the World Economic Forumโs Board of Trustees, where she contributes her insights on global economic issues.
Additionally, she serves on the boards of prominent organizations, including Soma Bay Development Company S.A.E. Maโaden and SLB and sits on the international advisory boards of Akbank Allianz SE, McKinsey & Company and Bank of America Merrill Lynch. She is also a member of the board of trustees of King Abdullah University Hospital (KAUH) Asia Business Council, and the MIT Corporation. She was on the board of British property developer Chelsfield PLC from 1996 to 2004 and on the international advisory boards of Rolls-Royce and Citigroup USA Inc. in 2006 and 2007, respectively.
In 2018, she was the only Saudi to be named by the Public Investment Fund (PIF) to a top-tier team of international business experts for the Kingdomโs Future Investment Initiative (FII).
Conclusion
Lubna Suleiman Al Olayan’s journey is a testament to the power of perseverance and vision. Her historic achievements have not only paved the way for women in the Middle East but have also established her as a global leader in business. As she continues to break barriers and inspire future generations, her legacy will undoubtedly influence the landscape of leadership for years to come. Shattering age-old gender stereotypes, Al Olayan exemplifies the idea that nothing is impossible if one is determined and willing to work hard.