ABANA Spotlight & Events

ABANA Honors H.E. Yasir O. Al-Rumayyan, Governor of the Public Investment Fund and Chairman of Saudi Aramco

New York, 1 December 2022 — ABANA, the preeminent US organization for finance professionals and institutions with interest in the Middle East and North Africa, honored H.E. Yasir O. Al-Rumayyan, Governor of the Public Investment Fund and Chairman of Saudi Aramco, at its annual Achievement Award Dinner on November 28th. Ray Dalio, Founder and CIO Mentor of Bridgewater Associates, gave the introduction. 

In his acceptance speech, Governor Al-Rumayyan spoke about both PIF and Aramco’s role – as part of Saudi Arabia’s Vision 2030 – in unlocking the Kingdom’s human capital and making a social impact, especially through investments in renewables, agriculture, entertainment, and real estate. He also highlighted PIF’s focus on achieving Saudi Arabia’s environmental goals, including the first green bonds ever issued by a SWF, the development and production of electric vehicles, and countless other Kingdom-wide initiatives. In his introduction, Ray Dalio recounted the Governor’s career and journey. He also emphasized the immense impact he is now making at both PIF and Aramco, especially through Aramco’s IPO and PIF’s role in spearheading the Kingdom’s giga and mega projects. He remarked, “Yasir personifies and has built the new Saudi Arabian dream that is inspiring many Saudi and non-Saudis, including me.”

Before presenting the award, ABANA Chair Amr Nosseir commended the Governor’s transformative leadership, pointing to accomplishments that serve “every single Saudi citizen, while benefiting Saudi Arabia’s partners and friends around the world.” 

For nearly 40 years, the ABANA Achievement Award has been given to an outstanding individual who has made significant contributions to the financial services industry and been instrumental in promoting valuable relationships between the business communities of the US and MENA region. Previous honorees include Stephen Schwarzman (Blackstone), Farouk Bastaki (Kuwait Investment Authority), David Rubenstein (The Carlyle Group), Ahmed Al Sayegh (Abu Dhabi Global Market), Laurence Fink (BlackRock), Dr. Mohamed El-Erian (Queen’s College, Cambridge), and Hutham Olayan (The Olayan Group).

In attendance last night were previous honorees Stephen Schwarzman, Laurence Fink, Hutham Olayan, and Lubna Olayan, as well as leaders and notable representatives from supporting organizations including Ardian, BlackRock, Blackstone, Castle Harlan, Franklin Templeton, General Atlantic, Global Infrastructure Partners, Morgan Stanley, The Olayan Group, Uber, and Wafra. The event brought together over 400 dignitaries and leaders from the financial services industry and business services industries, including from law and consulting firms.