Walid Amrani Joutei has been appointed general manager of CFG Gestion, the asset management arm of CFG Bank. He has spent more than ten years at the company, moving through several investment roles before taking charge of the business.
His previous positions included senior portfolio manager, head of bond management and investment director. He was most recently deputy director in charge of investments.
Amrani Joutei has degrees in engineering and finance. His new job will include overseeing investment strategy, managing risks and developing CFG Gestion’s mutual funds.
CFG Gestion manages investment funds that put clients’ money into shares, bonds and short-term financial assets. Its clients include individuals and institutions.
CFG Bank began in 1992 as Casablanca Finance Group, an investment bank. It received a commercial banking licence in 2015.
The bank raised 600m dirhams through its initial public offering on the Casablanca Stock Exchange. The IPO was nearly 35 times oversubscribed.
CFG Bank has reported net banking income of more than 650m dirhams, helped by lending and asset management.
The wider mutual fund market has more than 500bn dirhams in assets under management. The sector is regulated by the Moroccan Capital Market Authority, known as the AMMC.
