Societe Generale Maroc Appoints Mehdi Benbachir as CEO
Effective Leadership Transition Promises Continued Growth and Innovation
The banking sector in Morocco is set for a significant shift as Societe Generale Maroc has announced the appointment of Mehdi Benbachir as its new Chief Executive Officer, effective July 1, 2024. This decision, finalized during a Supervisory Board meeting on May 23, places Benbachir at the helm of one of the nation’s leading financial institutions.
Benbachir, a seasoned professional with nearly two decades of experience in the banking sector, first joined Societe Generale Maroc in 2005 as part of the Large Corporates Division. His extensive experience spans investment banking, mergers and acquisitions, and private equity, making him a formidable asset to the bank.
The company’s statement highlights Benbachir's impressive career trajectory within Societe Generale Maroc. By 2008, he was leading the Advisory Division, where he significantly impacted corporate clients by advising on complex financial transactions. His strategic insights and leadership prowess did not go unnoticed, culminating in his promotion to Deputy CEO in 2018.
Throughout his tenure, Benbachir has adeptly managed various facets of banking operations. In 2013, he took charge of all Investment Banking activities, encompassing advisory services, trading operations, securities management, and private equity investments. His operational acumen and visionary leadership were further recognized in July 2020 when he was entrusted with the Retail Business Unit, overseeing markets for individual consumers, professional clients, and small to medium-sized enterprises (SMEs).
As the new CEO, Benbachir will have direct oversight of Societe Generale Maroc’s Regional Delegations, Retail Business Unit, SME Business Unit, and Marketing Department. His appointment is seen as a strategic move to reinforce the bank’s strong position in the Moroccan banking sector, where it ranks fourth with approximately 400 branches and over 3,000 employees serving nearly 800,000 clients.
Societe Generale Maroc has a history of excellence, evidenced by SGSS Morocco being awarded the “Best Sub-Custodian of the Year” by Global Finance in 2017. Benbachir's leadership is expected to drive the bank towards further achievements and sustained growth.
Mehdi Benbachir’s appointment marks a new chapter for Societe Generale Maroc, promising to build on the bank’s legacy while steering it towards a future of innovation and excellence in financial services.