From left, Actis East Africa managing director Michael Turner, DTB chief executive Nasim Devji and Dyer and Blair founder Jimnah Mbaru. PHOTO | FILE
The Nairobi Securities Exchange (NSE) has appointed Dyer and Blair chairman Jimnah Mbaru, Diamond Trust Bank (DTB) chief executive Nasim Devji and Actis East Africa managing director Michael Turner to its board of directors.
The appointment of the three as non-executive members of the board raises the number of directors at the bourse from eight to eleven.
“They bring tremendous financial, technical, operational, leadership expertise and experience to the table. I am confident that they will make enormous contributions as we support the CEO Geoffrey Odundo and his team in the transformation of NSE by better serving our clients, strengthening our partnerships and building value for our shareholders,” said NSE chairman Eddy Njoroge Thursday.
Ms Devji has been the chief executive of DTB in East Africa since 2001. She is also a director of DTB Tanzania, DTB Uganda, DTB Burundi, Jubilee Insurance Burundi and Diamond Trust Insurance Agency Limited, and a member of the Kenya Deposit Insurance Corporation.
Mr Mbaru makes a return to the NSE board, previously serving during his stint as the chairman of the exchange between 1992 and 2001.
He also serves as a director in British-American Investments Company (Britam), Occidental Insurance Company, Jitegemee Trust (Kenya) and Pinebridge Investments East Africa Limited.
Mr Mbaru was proposed to the NSE board by the Kenya Association of Stockbrokers and Investment Banks (Kasib) — where he is chairman— to fill the non-executive position previously held by Geoffrey Odundo, now NSE chief executive.
Mr Turner began his career from PricewaterhouseCoopers (PwC) and has also worked as an investment banker with Lehman Brothers and Kleinwort Benson. He serves as an independent director in listed firms ARM Cement and I&M Holdings as well as Grain Bulk Handlers Limited and DFCU Bank of Uganda.
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