The Nairobi Securities Exchange (NSE) has appointed Frank Mwiti as its new Chief Executive effective 2nd May 2024.
He takes from Geoffrey Odundo who will complete his tenure at the bourse on 1st March 2024.
Through a notice, NSE PLC Board Chairman Kiprono Kittony noted that Mwiti’s appointment follows a competitive and rigorous recruitment process.
Odundo has been at the helm of NSE for nine years, credited for transforming it into a world-class exchange anchored on a wide variety of globally accepted investment products and cutting-edge technology, including the Real Estate Investment Trusts (REITs), Exchange Traded Funds (ETFs), Derivatives Market, Green Bonds, the Ibuka Program and the Unquoted Securities Platform.
“The Board would like to extend its sincere appreciation to Mr. Odundo for his dedicated service and stellar performance as the Chief Executive,” stated the NSE Board Chairman.
“Mr. Odundo has also been instrumental in commercializing the Exchange which is today a publicly listed company with ownership interests in the region.
Odundo has also been credited for being essential in commercializing the Exchange, which is now a publicly listed firm with regional ownership interests.
“He has also championed the Sustainability agenda in the capital markets, especially the issuance of the NSE Environmental, Social and Governance (ESG) Disclosures Guidance Manual.
The Board wishes Mr. Odundo well in his future endeavours,” added Kittony.
Mwiti boasts of an experience of over two decades as a business leader with professional experience in strategy, governance, corporate finance and performance improvement.
He is the immediate Partner and Eastern Africa Markets Leader at Ernst & Young (EY) where he led EY’s assurance, tax, consulting, strategy and transactions services across Kenya, Ethiopia, Uganda, Tanzania, Rwanda, Burundi and South Sudan.
He has also served as Manager, Banking and Capital Markets Advisory at PricewaterhouseCoopers (PwC) and EY United Kingdom (UK).
“The Board is confident of Mr. Mwiti’s strategic capabilities and exceptional experience in frontier, emerging and developed financial markets and will play a critical role in accelerating the next phase of growth of the NSE, as well as support Government’s capital markets agenda,” stated NSE Chairman.
To ensure there will be no gap during the transition period, the NSE board has further appointed David Wainaina, an insider, as acting Chief Executive from 2nd March 2024 to 1st May 2024.
Wainaina is the current NSE Chief Operating Officer (COO) boasting over 18 years in the capital markets and has been central in the implementation of key projects, including the automation of the equities and the fixed income (Bonds) markets at the bourse.