PANAPRESS
Panafrican News Agency
Kenya: Nairobi bourse executive named head of asset management firm Old Mutual
Nairobi, Kenya (PANA) - Peter Mwangi, the Chief Executive of the Nairobi Securities Exchange (NSE), has been named the new Chief Executive of Old Mutual Kenya, the asset management company said Monday.
Mwangi will become the Group Chief Executive from 1 October 2014, replacing the Reuben Java, who would swap roles to become the new Chief Executive of the company's operations in Zimbabwe.
Mwangi has been in charge of Kenya's financial and equity market's heartland as the CEO and Managing Director of Nairobi Securities Exchange.
Earlier, he served as the Managing Director of Centum Investment Company, a local holding company with interests in local commercial interests in Kenya.
Mwangi is expected to guide the delivery of Old Mutual’s commitment to provide affordable insurance and banking solutions to Kenyan clients.
Old Mutual Africa Chief Operations Officer, Mr Tavaziva Madzinga, said the Old Mutual was pleased to welcome Mwangi as its new head in Kenya.
"This is among several initiatives that support the Group’s intentions to focus on East and West Africa as it’s core growth markets," Tavaziva, who previously held the Kenyan portfolio, said in a statement sent to PANA.
The Kenyan unit of Old Mutual, which runs a range of financial services and assets under management in excess of Ksh100 billion, is seen as critical to the Old Mutual Group's regional expansion strategy across Eastern and Southern Africa.
“We are excited to welcome Mwangi. He is an experienced leader with a proven track record of steering companies to deliver market–led solutions for customers," said Peter Muthoka, the Board Chairman in a statement announcing the appointment.
He has served across various East African companies at both Director and board levels.
"We will look to benefit from this experience to grow our business across East Africa,”
Muthoka added.
-0- PANA AO/MA 25Aug2014
Mwangi will become the Group Chief Executive from 1 October 2014, replacing the Reuben Java, who would swap roles to become the new Chief Executive of the company's operations in Zimbabwe.
Mwangi has been in charge of Kenya's financial and equity market's heartland as the CEO and Managing Director of Nairobi Securities Exchange.
Earlier, he served as the Managing Director of Centum Investment Company, a local holding company with interests in local commercial interests in Kenya.
Mwangi is expected to guide the delivery of Old Mutual’s commitment to provide affordable insurance and banking solutions to Kenyan clients.
Old Mutual Africa Chief Operations Officer, Mr Tavaziva Madzinga, said the Old Mutual was pleased to welcome Mwangi as its new head in Kenya.
"This is among several initiatives that support the Group’s intentions to focus on East and West Africa as it’s core growth markets," Tavaziva, who previously held the Kenyan portfolio, said in a statement sent to PANA.
The Kenyan unit of Old Mutual, which runs a range of financial services and assets under management in excess of Ksh100 billion, is seen as critical to the Old Mutual Group's regional expansion strategy across Eastern and Southern Africa.
“We are excited to welcome Mwangi. He is an experienced leader with a proven track record of steering companies to deliver market–led solutions for customers," said Peter Muthoka, the Board Chairman in a statement announcing the appointment.
He has served across various East African companies at both Director and board levels.
"We will look to benefit from this experience to grow our business across East Africa,”
Muthoka added.
-0- PANA AO/MA 25Aug2014
