The Nairobi Securities Exchange (NSE) has appointed Frank Mwiti as its new CEO effective May 2, 2024, to replace Geoffrey Odundo whose term will end on March 1, 2024.
In a statement issued on Tuesday, February 20, the NSE recognised the dedication and outstanding performance of Mr Odundo for the nine years he served as the chief executive.
“Through his pioneering vision, he has transformed the NSE 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,” NSE said.
It added that Mr Odundo has been instrumental in commercializing the Exchange which is today a publicly listed company with ownership interests in the region. 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.
Mwiti is the outgoing Partner and Eastern Africa Markets Leader for Ernst & Young (EY), responsible for leading strategic business development of EY’s assurance, tax, consulting, strategy and transactions services across Kenya, Ethiopia, Uganda, Tanzania, Rwanda, Burundi and South Sudan.
Previously he worked as a manager, banking and capital markets advisory at PricewaterhouseCoopers (PwC) and EY United Kingdom (UK), as well as an associate director, investment banking at UBS, UK.
He also served as a management consultant, Investment Banking at Deutsche Bank, UK and as Chief Executive Officer and Managing Director, Afrika Kapital, UK, a firm he founded and in which he was involved in advising Deutsche Bank and Lloyds Banking Group on a wide array of financial products including Forex, Equities, Fixed Income, Commodities and Synthetics & Listed Derivatives in London, New York, Frankfurt, Singapore, Moscow and Hong Kong.
“The Board is delighted to welcome Mwiti to the NSE and will accord him the necessary support to implement strategic initiatives that will accelerate the company’s growth and enhance Kenya’s appeal to international investments,” the NSE added.
Before Mwiti takes over, the board has appointed David Wainaina as the Acting Chief Executive effective March 2, 2024, up to May 1, 2024.
Wainaina is the current NSE Chief Operating Officer, with over 18 years of experience 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.
