Business

Frank Mwiti replaces Geoffrey Odundo as NSE CEO

Tuesday, February 20th, 2024 14:35 | By
Outgoing NSE CEO Geoffrey Odundo
Outgoing NSE CEO Geoffrey Odundo. PHOTO/@NFNV_ORG/X

The Nairobi Securities Exchange (NSE) has appointed Frank Mwiti as its new CEO following the expiry of Geoffrey Odundo's tenure.

In a statement, NSE announced that Odundo will leave the entity on March 1, 2024, as Mwiti waits to take over on May 2, 2024.

David Wainaina, the current NSE Chief Operating Officer, has been appointed as the acting CEO between March 2, 2024, and May 1, 2024.

"The Board of Directors of the Nairobi Securities Exchange Plc (NSE) wishes to notify the company's shareholders, stakeholders and the general public that Geoffrey Odundo will complete his tenure as the Chief Executive of the NSE on 1st March 2024, having ably served for nine years at the helm," NSE stated.

"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. Mr Odundo has also 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."

NSE termed Mwiti as a dynamic and accomplished business leader with more than two decades of diverse and international professional experience in strategy, governance, business development, risk management, corporate finance, mergers & acquisitions and performance improvement.

NSE CEO Mwiti's career

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. Mr. Mwiti equally 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 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 the Government's capital markets agenda. The Board is delighted to welcome Mr 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," NSE added.

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