Nicholas Nesbitt the former General Manager of IBM Eastern Africa has been appointed the new chairman of Kenya’s Capital Markets Authority (CMA).
Nicholas Nesbitt takes over from James Ndegwa who left the regulatory state agency in March this year following the expiry of his two terms of three years as Board Chairman of the Authority. Ndegwa, was first appointed to head the CMA Board of Directors in April 2015. He was subsequently reappointed on March 28, 2018, for another three years.
CMA Chairman is appointed by the President
“IN EXERCISE of the powers conferred by section 5 (3) (a) of the Capital Markets Act, I, Uhuru Kenyatta, President of the Republic of Kenya and Commander-in-Chief of the Defence Forces, appoint- NICK NESBITT to be the Chairperson of the Board of Capital Markets Authority, for a period of three (3) years, with effect from the 6th October, 2021.” read a gazette notice dated 4th October 2021.
Nicholas Nesbitt Experience
Additionally, Mr Nesbitt served as the Chief Executive of KenCall, a leading international BPO/call center outsourcing company in East Africa. Mr Nesbitt has previously held senior executive positions in the United States at Qwest Communications, Schneider Electric and The Boston Consulting Group.
Mr Nesbitt served as the Chairman of the Board of KEPSA (Kenya Private Sector Alliance), the apex body of the private sector in Kenya from April 2017 to May 2021. He has also been a board member of the Central Bank of Kenya, Commercial Bank of Africa (CBA), American Chamber of Commerce, AMREF Flying Doctors, Kenya School of Monetary Studies, Multimedia University and Gateway insurance.
Mr Nesbitt is also an active member of the Young President’s Organization (YPO), a global organization supporting leading CEO’s.
Mr Nesbitt received his MBA from Stanford University and both his Masters and Bachelors of Engineering degrees from Dartmouth College in New Hampshire, USA.