Former NSE boss Peter Mwangi named Old Mutual chief officer
Mr Peter Mwangi. The former NSE boss has been appointed the Group Chief Executive Officer of the newly merged UAP-Old Mutual Group business. FILE PHOTO | SALATON NJAU |
What you need to know:
- Mr Mwangi, whose appointment takes effect on October 1, has served as CEO of the bourse for six years.
- At Old Mutual, he will replace Mr Rueben Java, who has held the position since September 2013.
Mr Peter Mwangi has been appointed Old Mutual Kenya group chief executive officer, less than a week after he stepped down from the helm of the Nairobi Securities Exchange.
Mr Mwangi, whose appointment takes effect on October 1, has served as CEO of the bourse for six years and earlier as the managing director of Centum Investments.
At Old Mutual, he will replace Mr Rueben Java, who has held the position since September 2013. Mr Java has been reassigned to the life business at Old Mutual Zimbabwe, one of the key contributors to the company’s Africa business.
EXPANSION STRATEGY
The decision is meant to improve the execution of the group’s expansion strategy, according to Mr Peter Muthoka, Old Mutual’s chairman.
During his tenure at the NSE, Mr Mwangi presided over several milestones, including the just-concluded demutualisation, initial public offering and imminent self-listing of the exchange.
Other projects undertaken during Mr Mwangi’s tenure include the trading of Corporate and Government Treasury Bonds on the Automated Trading System, launch of the Growth Enterprise Market Segment (GEMS) for medium-sized firms and relocation of the bourse from Nation Centre to the Exchange at Westlands, Nairobi.
