Reda Hilali, CEO of Wafa Gestion, has been named in the Forbes Middle East Top 50 Asset Managers 2026 list. He is the only executive based in Morocco to appear in this year’s ranking.
Hilali has led Wafa Gestion since 2016. The company managed more than $17.7 billion in assets in 2025 after recording annual growth of more than 21%.
The top 10 spots are dominated by executives from the Gulf region. Saudi Arabia has five leaders in the top 10, followed by Kuwait with two and Bahrain with one. The list also includes an Omani executive leading a Bahrain-based firm and a Jordanian executive heading a UAE-based asset manager.
The top 10 are Rashed Sharif of Saudi Arabia at SNB Capital, Omani executive Mohammed Alardhi at Bahrain-based Investcorp, Kuwait’s Faisal Al Hamad at NBK Wealth Group, Saudi executives Hossam Essam Al Basrawi of Al Rajhi Capital, Mazin Baghdadi of Alinma Capital, Tariq Al Sudairy of Jadwa Investment and Abdullah Abdulrahman Al Shwer of Riyad Capital, Bahraini executive Hisham Alrayes of GFH Bank, Jordanian executive Michail Samawi of UAE-based Emirates NBD Asset Management and Kuwait’s Faisal Mansour Sarkhou of Kamco Invest.
The ranking shows the strength of Gulf financial institutions, especially large banks and investment firms in Saudi Arabia, Kuwait, Bahrain and the UAE.
Wafa Gestion is the country’s biggest asset management company. It manages nearly 100 regulated investment funds, known as UCITS, and creates investment portfolios for individuals, companies and institutional clients.
The company launched three balanced funds for high-net-worth families in 2025. It also introduced a long-term fixed-income fund for an institutional client. Its average market share reached 22.4% during the year.
Hilali previously held senior positions at Crédit du Maroc and the state-owned phosphate company Groupe OCP. He also served two terms as president of the Moroccan asset management association, ASFIM, where he worked with regulators to update the rules governing investment funds and financial markets.
Wafa Gestion is owned by Attijariwafa Bank, which holds a 66% stake, and Amundi, Europe’s largest asset manager, which owns the remaining 34%.
The company invests in government bonds, corporate debt and shares listed on the Casablanca Stock Exchange.
Hilali has also overseen several new investment products. Wafa Gestion launched the Attijari Valeurs ESG Fund in 2022, introducing environmental, social and governance investing to the local stock market. The company followed this in 2023 with the country’s first Factor Funds, which use mathematical models to select shares based on factors such as momentum and low volatility.
The company has won several LSEG Refinitiv Lipper Fund Awards for its mixed asset domestic funds. It also holds an Investment Management Quality Rating of Excellent from Fitch Ratings.
Wafa Gestion offers money market, bond and equity funds to individual savers and high net worth families through Attijariwafa Bank’s branch network. It also builds tailored investment strategies for companies, insurance firms and pension funds.
