16 Feb 2010 09:47
BMCE BANK GROUP PRESS RELEASE
REINFORCEMENT OF BMCE BANK CORPORATE GOVERNANCE
Mr. Othman Benjelloun, chairman of BMCE Bank Group, announced at the annual meeting with managers and executives appointments and reorganization of the corporate governance at the Bank.
The first milestones of reinforcing the corporate governance system were laid in conjunction with the decisions made by BMCE Bank Board of Directors on 24 September 2009. They form a part of the determination of Chairman Othman Benjelloun to accompany the consolidation process of a banking group with a continental dimension led by BMCE Bank in Morocco, operating in commercial banking, investment banking, para-banking activities, in addition to complementary business lines.
The stake is to institutionalize the Group's international expansion strategy carried by its two closely linked pillars, MediCapital Bank and Bank of Africa Group, and to which a part of the core Senior Management team is devoted.
Mr. Jaloul AYED - Director and General Manager, has been entrusted with leading from London the process of association between MediCapital Bank and Bank Of Africa Group. Over the last decade he managed to structure the corporate finance bank and the investment bank with a full range of business lines leading to the creation of a new bank in London, MediCapital Bank and participated in the inclusion of Bank Of Africa into the Group, and contributed to the launch of a myriad of other financial activities and services disseminated among several entities of the Group.
Mr. Mohamed BENNANI - Director and General Manager will devote his time to the activities of Bank Of Africa Group based in Bamako and of its affiliates, in view of completing its takeover by BMCE Bank and assuming the responsibilities as CEO of Bank Of Africa Group. Mr. BENNANI played a decisive role through many structural projects within BMCE Bank's Retail Bank, fostering the unprecedented growth in the number of branch offices and the spread of banking services with all what it implies in terms of revenue generation, recruitment, and investment, in order to enlarge the customer base, with a more dispersed distribution of a wider range of products and services.
Misters AYED and BENNANI will work in synergy with BMCE Bank parent company to carry out this convergence between the Group's setups in Europe and in the African continent and to optimally benefit from the exceptional richness available for the creation of value offered by the economies of African countries in all fields of activity in which the Group engages in terms of the spread of bank use, insurance, infrastructures, communications and loans..
The debt collection activity in Morocco has become over the past five years a key contributor to BMCE Bank Group performance thanks to the decisive role played by the Remedial Management division headed by Mr. Mamoun BELGHITI - Director and General Manager. Also, in view of consolidating the structures at the Group level, Mr. Mamoun BELGHITI was appointed to oversee the creation of a future debt collection entity, covering BMCE Bank Group and other FinanceCom Group entities in Morocco and abroad.
Mr. Brahim BENJELLOUN-TOUIMIhas been appointed Director and Delegate General Manager to the Chairman's Office in charge of the coordination of all Groups' entities. With respect to his new responsibilities, Mr. Brahim Benjelloun-Touimi chairs the General Management Committee and is Vice Chairman of the Senior Credit Committee. Mr. Brahim BENJELLOUN-TOUIMI played an active role in the implementation of structuring projects related to corporate governance and consolidation of the Group's synergy culture, as well as to the organization, processes, IT and communications that accompanied the emergence of a multidimensional and multinational banking Group.
In the context where the enlarged dimension of BMCE Bank Group and the scope of its development strategy in Morocco and elsewhere are growing, Risk Management and Finance divisions merge under the leadership of Mr. Driss Benjelloun, General Manager. For nearly 25 years of service within the institution, the positions he fulfilled with professionalism, rigor and loyalty led him to direct a series of structural projects, whether for Control Management, Support activities or Finance.
Further, the Enterprise Bank will federate the Corporate Bank in addition to the Enterprise and SME network, whose principal mission is to assist these customers in financing, advisory and management of their cash flows, regardless of the company size of. This division will be headed by Mr. M'Fadel El HALAISSI, General Manager who throughout his career participated in the credit processes and Enterprise Business and for seven years now in corporate activities.
Within this division, Mr. Abdelkébir BENNANI, General Manager in charge of the Enterprise and SME Network will continue to hold his position seconded by Mr. Aziz FOUSI.
Mr. Mohamed Jalil BENNANI SMIRES, General Manager henceforth has the responsibility of managing the Retail Bank focusing on the private individual and professional customers, a key strategic development activity in Morocco and also abroad, as a model to be replicated. He will be seconded at the head of the Private Individuals and Professional network by Mr. Azeddine ALAMI.
Mr. Khalid NASR, Vice-Chairman of BMCE Capital Board of Directors will be put forward to assume the chairmanship of the Board of Directors. Since 1998 within this investment bank, he developed a money market and bond desks, and has managed the trading room since 2002.
In the name of his diversified and remarkable experience in risk management at the Bank and in the Group, Mr. Mohamed BENNOUNA has contributed at various levels, along with his relationships with the monetary and regulatory authorities or with the Moroccan Banking Association, to the weighting of judgment and assessment of value. Mr. BENNOUNA will continue to perform several of his current duties and henceforth as a member of the General Management and its Advisor.
A new organizational chart of BMCE Bank Groupis in process; and will reflect this new corporate governance and help to finalize the process of definition of the new duties and assignments given to the heads of the principal entities making up the backbone of the Bank's organization.
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