The Capital Markets Authority (CMA) in Kenya has appointed Mr Wyckliffe Shamiah as the acting Chief Executive Officer, replacing Mr Paul Muthaura whose term has ended.
In a press statement on Monday, CMA says Mr Shamiah will be acting CEO from January 1, 2020 until a substantive office holder is appointed by the National Treasury and Planning Cabinet Secretary.
The Capital Markets Authority is a statutory agency charged with regulating and developing an orderly, fair and efficient capital markets in Kenya with the view to promoting market integrity and investor confidence.
Mr Shamiah will support the Authority in implementing its Strategic Plan 2018-23 and the industry 10-Year Capital Markets Master Plan.
He has served as the Director Market Operations since November 2011 and has held multiple senior positions in market supervision, research, financial analysis and compliance in his more than 22 years at the Authority.
Mr Shamiah has also been the CMA 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.
The CMA says Mr Shamiah has played a critical role in the organisation, including championing proactive investigations and enforcement, overseeing the roll out of new financial market infrastructure at the Nairobi Securities Exchange (NSE) and Central Depository and Settlement Corporation (CDSC).