Wyckliffe Shamiah has been appointed the Capital Markets Authority (CMA) CEO in an acting capacity following the exit of Paul Muthaura.
Mr Shamiah has been the director of market operations since November 2011, and will take up the new role from January 1, 2020.
“The appointment is expected to run until the appointment of a substantive office holder by the Cabinet Secretary, National Treasury and Planning following recommendations made by the Board,” CMA said in a statement.
The board began to look for Mr Muthaura’s replacement in September before his term ends on December 31, but the process has been slow.
Mr Muthaura served in acting role for three and half years spanning July 2012 to end of 2015, the longest in CMA’s history. He was then confirmed as CEO on January 2, 2016 to serve for four years.
Shamiah was CMA’s 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.
He 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.