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NSE picks investment banker chief executive

Geoffrey Odundo has been appointed as the chief executive at the Nairobi Securities Exchange effective from March 1, 2015. FILE PHOTO | SALATON NJAU |
Geoffrey Odundo has been appointed as the chief executive at the Nairobi Securities Exchange effective from March 1, 2015. FILE PHOTO | SALATON NJAU |  NATION MEDIA GROUP

Geoffrey Otieno Odundo, chief executive of brokerage firm Kingdom Securities, has been appointed as the new CEO of the Nairobi Securities Exchange (NSE).

He takes over the reins of NSE from March 1.

The position fell vacant on November 24 last year when the then holder Peter Mwangi left having completed his second and final term as the chief executive.

Mr Odundo has also been serving as a non-executive director of the NSE representing trading participants from March 2012.

He has also been the chairman of the NSE technology committee as well as a member of the NSE finance and manpower committee and the listings and admissions committee.

The NSE said in a statement that its new boss has been an investment banker for 22 years, 16 years of which have been spent in various senior roles in the capital market, including asset management, corporate finance and stock brokerage.

Mr Odundo has been instrumental in the setting up of Co-op trust Investment Services, Co-op Consultancy Services Limited and Kingdom Securities Limited.

From June 2009, he was the chief executive of Kingdom Securities Limited where he oversaw the growth of the firm to become one of the leading trading participants of the NSE and has been instrumental in key listings on the bourse as well as other corporate finance transactions.

Mr Odundo has also in the past served as a director and secretary of the Kenya Association of Stockbrokers and Investment Banks, a role in which he was instrumental in improving the service delivery and standards of the operation of capital markets intermediaries.

He holds a Bachelor of Arts Degree in Mathematics and Economics from Egerton University and a Masters in Strategic Management from the United States International University-Africa.

NSE chairman Eddy Njoroge said the investment banker was appointed after a thorough vetting process.

“After a thorough and rigorous process during which the board together with KPMG considered numerous applications from various applicants of the highest standards, the board of directors is pleased to appoint Mr Odundo as the next chief executive of the NSE,” he said.

Mr Njoroge further noted that Mr Odundo’s leadership skills, experience and wealth of knowledge would be instrumental in driving the NSE’s strategic plan.

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