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Capital Markets Authority (CMA) has announced the appointment of Mr. Wyckliffe Shamiah as its acting chief executive officer, replacing Mr. Paul Muthaura who’s tenure ends Tuesday.
The appointment takes effect on 1 Jan. 2020.
Mr. Shamiah was the current Director of Market Operations at the Capital Markets Authority since 2011 where he oversaw the functions of market supervision, compliance, Licensing & Approvals, Analysis, Surveillance and Investigations & Enforcement which functions are aimed at protecting investors.
He has worked at the Capital Markets Authority, Kenya for the last 16 years in various capacities. He has gained wide experience in the operations of capital markets.
Shamiah holds a bachelor’s degree in Economics and Mathematics and also a Masters in Business Administration (Finance) from the University of Nairobi. He is a Certified Public Accountant and a member of the Institute of Certified Public Accountants of Kenya (ICPAK).
“Mr. Shamiah has played a critical role in the development of a robust Risk-Based Supervision regime a the Authority, championed proactive investigations and enforcement, oversaw the rollout of new financial market infrastructure at the Nairobi Securities Exchange and Central Depository and Settlement Corporation,” said the Board.
He is the current chair of the Sandbox Review Committee which coordinates the Regulatory Sandbox established by the Authority to support financial, technology in the Capital Markets.
The Board of the Authority has noted that Mr. Shamiah’s appointment as Acting Chief Executive will support the Authority to continue the implementation of its Strategic Plan 2018-23 and the industry 10 Year Capital Markets Master Plan.
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.
“We call upon the capital markets industry and all relevant stakeholders to work closely with Shamia 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.
