Live news: Blackrock adds Saudi Aramco chief to board

BlackRock has added Saudi Aramco Chief Executive Amin Nasser as an independent director as the $9.4 trillion wealth manager seeks to bolster Middle East expertise on its board, as the world’s biggest asset manager resists US Republican claims. continues to fight. Hostile to fossil fuels.

Nasser has led Saudi Aramco, the world’s largest oil producer, since 2015. His joining takes BlackRock’s board to 17 members, including 15 independent directors.

Chief executive Larry Fink said the board would benefit from Nasser’s “unique perspective”, which includes his “understanding of the global energy industry and the drivers of change towards a low-carbon economy, as well as his knowledge of the Middle East region”. .