Wycliffe Shamiah has been appointed acting CEO of Capital Markets Authority (CMA), and will assume duties starting January 2020.
Shamiah takes over from Paul Muthaura, whose contract would expire from Wednesday, and who had rejected renewal.
CMA is an independent government financial regulatory agency responsible for supervising, licensing and monitoring the activities of market intermediaries, including the stock exchange.
Before 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.
"We call upon the capital markets industry and all relevant stakeholders to work closely with Shamiah 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.
Shamiah 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.
He will continue holding the position until the government through Treasury makes a substantive appointment.