Wycliffe Shamiah is new CMA Chief Executive Officer

The board of the Capital Markets Authority (CMA) has announced Wycliffe Shamiah as the regulator’s new Chief Executive Officer ending a 14-months long recruitment process.

In a letter to staff on Thursday, CMA Chairman James Ndegwa affirmed the appointment which has since been approved by Treasury Cabinet Secretary Ukur Yatani.

“I am sure that with the support of the board, management and staff, Mr Shamiah will succeed in leading the authority in executing its mandate, in implementing the Strategic Plan 2018-2023 and in fulfilling its role in the Capital Markets Master Plan,” he said.

Shamiah was first appointed to the role on acting capacity on January 1 taking over from Paul Muthaura who resigned from the post ahead of the expiry of term in July last year.

CMA initiated the CEO recruitment process in September last year but would later in August 2020 re-advertise the same vacant position with no reasons given for the collapse of the initial hiring process.

The slow recruitment process has however been evident at the capital markets regulator with Paul Muthaura having also served first as CEO on a lengthy interim capacity.

Prior to his appointment on an acting role, Wycliffe Shamiah has been the CMA Director of Market Operations since 2011.