Capital Markets Authority on Monday appointed Wyckliffe Shamiah as acting chief executive officer starting Tuesday following the exit of Paul Muthaura.
Muthaura had in late July has served notice of his intention not to seek a second four-year term when his contract expires on January 1, 2020.
Prior to his appointment, Shamiah had served as the director market operations since November 2011 and has held multiple senior positions in market supervision, research, financial analysis and compliance at the Authority over a career of in excess of 22 years.
He has also been CMA’s nominee to the Council of the Institute of Certified Public Accountants of Kenya for more than 10 years and a representative of the Authority to the Financial Stability Board Regional Consultative Committee for Sub-Saharan Africa.
He is a Fellow of the Institute of Certified Public Accountants (FCPA)(K) and holds a Masters in Business Administration (Finance Option) from the University of Nairobi and a Bachelor of Arts Degree in Mathematics and Economics from Egerton University.
In a statement to newsrooms, the CMA’s board said Shamiah’s appointment will support the Authority to continue the implementation of its Strategic Plan 2018-23 and the industry 10 Year Capital Markets Master Plan.
The appointment is expected to run until the appointment of a substantive office holder by the Cabinet Secretary, National Treasury, and Planning following recommendations made by the Board.
‘’We call upon the capital markets industry and all relevant stakeholders to work closely with Shamia to maintain the positive trends in capital markets development and regulation that have seen the Authority recognised as the most innovative regulator in Africa since 2015,’’ CMA Board chairman James Ndegwa said.
