Ex-bourse boss appointed CDSC chief executive
Central Depository and Settlement Corporation Ltd (CDSC) has appointed Christopher Mwebesa as the new chief executive with effect from February 10.
Mwebesa, a former Nairobi Securities Exchange CEO takes over from Rose Mambo, who retired after serving the company for 12 years. She had replaced Peter Waiyaki, who resigned in 2007 after serving for four- and-a-half years.
Mwebesa has over 25 years experience and has served as a strategist in the Financial Services Sector in the East Africa Region. His expertise spans banking, wealth and investment management, capital markets and securities trading and investment banking.
He joins CDSC, a company which provides clearing, delivery and settlement services for securities traded at the NSE from Stanlib Kenya Ltd (Stanlib), where he worked as managing director where he crafted and led the strategic turnaround of the business.
Before he joined Stanlib, Mwebesa served as the Chief Executive of SBG Securities Ltd (SBGS), a member of the Nairobi, Uganda and Rwandan Securities Exchanges and an arm of Stanbic Holdings.
Mwebesa served SBGS from January 2009, where he led the strategic repositioning of the business into a top tier regional investment bank. During his tenure, SBGS routinely ranked as the top broker on the three regional exchanges.
During his tenure at the NSE from 2005 to 2008, he led the implementation of the Automated Trading System that contributed to the largest trading expansion in the history of the bourse.
The board said it is confident that with such rich background in the capital markets and diverse leadership experience, Mwebesa will steer CDSC to greater heights.
Hilda Njeru, who has been the acting CEO, will continue to hold the fort until Mwebesa assumes office.