Capital Markets Authority (CMA) has announced the start of the process to find its new Chief Executive Officer as the incumbent Paul Muthaura exits office.
The process began on Tuesday and the door will be closed on September 27. MCA executive office shall be vacant beginning January 2020 following Mr. Muthaura’s announcement that he won’t renew his tenure.
The Chief Executive will be expected to provide vision and leadership in the regulation and development of Kenyan Capital markets. Moreover, he/she will be responsible for developing and implementing strategies to address emerging issues, risks, and opportunities to safeguard investor confidence and market integrity.
The requirements for appointment include a Master’s degree in Law, Finance, Accounting, Economics, Banking, Insurance, or equivalent. Furthermore, the candidate must have at least 10 years of relevant experience at a senior management level and have expertise in the matter relating to money, capital markets, or finance.
The Board of CMA confirmed the appointment of Mr. Paul Muthaura as the substantive Capital Markets Authority Chief Executive Officer.
The appointment was made by the Cabinet Secretary to the then National Treasury, Mr. Henry Rotich, through Gazette notice number 2696.
Mr. Muthaura has spearheaded key projects such as the development and implementation of the Capital Markets Master Plan and corporate governance reforms including the development of a Code of Corporate Governance Practices for Issuers of Securities to the Public.
