The Nairobi Securities Exchange (NSE) has appointed Frank Mwiti as its next CEO, succeeding Geoffrey Odundo, who will retire on March 1 after nine years of service.
Kiprono Kittony, Chairman of the NSE Board, announced the appointment in a public notice sent to the Board of Directors, shareholders, stakeholders, and the general public.
Mwiti is slated to start in his new post on May 2, subject to Capital Markets Authority regulatory approval.
“The appointment follows a comprehensive and rigorous recruitment process,” Kittony said.
He hailed the incoming CEO as a dynamic and successful business leader with over 20 years of diversified worldwide professional expertise in strategy, governance, company development, risk management, corporate finance, mergers and acquisitions, and performance improvement.
Mwiti offers substantial expertise to the post, having previously worked as a Partner and Eastern Africa Markets Leader for Ernst & Young (EY), where he supervised strategic business development in Kenya, Ethiopia, Uganda, Tanzania, Rwanda, Burundi, and South Sudan.
He has also held management positions at PricewaterhouseCoopers (PwC) and EY in the United Kingdom, as well as at UBS and Deutsche Bank.
Kittony was confident in Mwiti’s ability and extensive expertise in frontier, emerging, and matured financial markets.
He stated that Mwiti will play a critical role in advancing the NSE’s next phase of expansion and supporting the government’s capital markets strategy.
The Board praised departed CEO Geoffrey Odundo for his dedicated devotion and exceptional performance during his tenure.
Kittony lauded Odundo for developing the NSE into a world-class exchange by offering globally acknowledged investment products, and cutting-edge technology, and advocating capital market sustainability measures.
To ensure a smooth transition between Odundo and Mwiti, the Board has selected David Wainaina as acting CEO, commencing March 2 and ending May 1, 2024. Wainaina now works as the NSE’s Chief Operating Officer.
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