CAPITAL market players are divided on whether the acting Capital Markets Authority chief executive Paul Muthaura should be confirmed.
This follows the long drawn tag of war over the replacement of former head Stella Kilonzo. The appointment of a new head pits Finance Minister Njeru Githae on one hand and the CMA board on the other.
While the board conducted interviews and shortlisted Investment bankers Paul Mwai and Wanjiku Mugane and CMA's corporation secretary Rose Lumumba, Githae said they did not meet the Treasury requirements. The board was given more time to recruit and Githae yesterday said they have recommended Muthaura.
A section of brokers are rooting for Muthaura as the best candidate saying he has kicked off key market reforms since assuming the position last June.
“He is a much better candidate than what we had before,” said a senior broker. “The market is moving very well...his competence is not in doubt.”
However others said that while Muthaura has handled the job well, he has not met all the requirements as laid out in the recruitment brief.
Muthaura who previously held the position of CMA as the director for regulatory policy and strategy did not apply for the post when it was advertised last year, a fact that some brokers say lock him out of contention.
When asked yesterday whether he is interested in the job, he chose not to comment.
But the broker said they do not want to voice their support so openly because the appointing authority may take this support with suspicion.