October 1, 2014 / 7:13 AM / 3 years ago

Kenya's Nairobi Securities Exchange picks Wachira as acting CEO

NAIROBI, Oct 1 (Reuters) - The Nairobi Securities Exchange (NSE) has picked Andrew Wachira, a lawyer who has worked at the Kenyan exchange for a decade, to serve as acting chief executive, it said on Wednesday.

The 60-year old exchange, which listed its own shares last month, is in expansion mode. It launched a new trading system for bonds last week and plans to offer new services such as trading of futures.

Wachira, who was heading the compliance and legal department at the NSE, was appointed after the departure of Peter Mwangi, who left on Sept. 30, when his term expired.

The Kenyan bourse is used as an entry point into east Africa by foreign investors seeking exposure to the fast-growing economies in the region. Several Kenyan firms are cross-listed on other bourses in the region. (Reporting by Duncan Miriri; Editing by Edith Honan and Mark Potter)

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