New Chief for Morocco's Largest Private Holding

Bassim Jai Hokimi will be heading Omnium Nord-Africain (ONA), Morocco's largest private holding, in replacement of Mourad Cherif.

A ONA release said the decision was announced during a meeting of the holding's administrative board, held under the chairmanship of Mourad Cherif, who had been heading the group since April 1999.

The release said Mourad Cherif and his teams have, during the past three years, renovated the group, which acquired a new dimension, established strategic partnerships and mastered the financial balances.

Bassim Jai Hokimi, 42, is an engineer who worked from 1984 to 1994, as head of several departments at the Moroccan carrier RAM. He started afterwards working on a project to set up a company specialized in financial assets trading.

The project lead to the creation of MEDIAFINANCE bank, whose shares are detained by the International Financial Corporation (ICF/ a work bank affiliate), the Compagnie Parisienne de R?escompte, and major Moroccan Banks (BMCE, BCP, CDG, SGMB, Wafabank, Al Amane). He was general manager of MEDIAFINANCE till September 1998. From October 1998 to January 2002, Jai Hokimi served as consultant within the Paris-based ORGACONSULTANTS cabinet. In January 2002 he returned to Morocco to head the PRIMARIOS Group(Primarios, Electra, SMAET, Meubles Maroc).

Jae Hokimi is married and father to three children.