Chirume new ZSE boss

HARARE - THE Zimbabwe Stock Exchange (ZSE) has appointed Alban Chirume as its new chief executive.

Eve Gadzikwa, the bourse’s chairperson, said Chirume’s appointment is with effect from June 1.

“The appointment was done independently and was not in any way influenced by any institution or individual,” she said.

Chirume replaces Martin Matanda who has been the acting ZSE boss since Emmanuel Munyukwi’s departure in May last year.

Before his resignation, Munyukwi had been suspended on charges of incompetence.

Gadzikwa said Chirume, who quit the Securities Commission of Zimbabwe to pursue personal interests in March 2011, was chosen after a rigorous recruitment exercise because he “comes in with a lot of knowledge and experience about the market”.

In accepting the post, Chirume said delegated regulation was an important pillar in the way capital markets are run.

“The exchange is a huge institution and it is vital to run it with integrity guided by four main pillars; Information Technology, Staff, Commercial and the Regulatory pillars,” he said adding that he would promote good corporate governance within the institution, the members and within the listed companies.

Chirume said perceptions that market players would resist his appointment were false as he had worked well with the market when he was the face of the Securities Commission.

Chirume began his career as a telecommunication engineer and later moved to the financial services sector where he held several senior executive posts in corporate finance, project finance, investment management and treasury.

He later established his own business in the capital markets, trading in quoted shares and bonds. - John Kachembere

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