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Here are NSE’s investment bankers’ succession plans
Standard Investment Bank CEO James Wangunyu and son Donald (top and bottom left); Dyer & Blair chairman Jimnah Mbaru and daughter Cynthia (top and bottom centre); and Faida Investment Bank chairman Bob Karina and daughter Rina Hicks.
Kenya’s top investment banks are laying the ground for the takeover of their companies by heirs in an elaborate succession plan seeking to ensure the continuity of the businesses at the Nairobi Securities Exchange (NSE).
Proprietors of four market intermediaries —Faida Investment Bank (FIB) Ltd, Standard Investment Bank (SIB), Dyer & Blair Investment Bank and Sterling Capital Ltd—which have dominated equity and bond trades for many years are preparing to exit the stage, demonstrating the looming change of face among the stock and bond dealers at the Nairobi bourse that is fighting to regain its footing following collapse of the stock market boom more than 17 years ago.
