Gerald Nyaoma officially took office as the second Central Bank of Kenya deputy governor on Tuesday following
an appointment by President
William Ruto in November.
The National Assembly Finance Committee approved his appointment.
The career banker is expected to extend his streak at the apex bank to close to four decades, having served there for the past 36 years in various capacities.
Nyaoma joined CBK in August 1988, and served in various senior positions including the financial markets, banking services, and internal audit departments, culminating in his role as the Director of the Bank Supervision Department.
He joins Susan Koech who was appointed in February 2023 in compliance with the legal requirement that the executive team at CBK consists of the governor and two deputies.
He will be in the office for four years, renewable. He holds an M. Philosophy (Econ.) degree from the University of Cambridge, UK, and a BA (Economics) degree from the University of Nairobi.
He is a Certified Public Accountant (CPA-K), a Certified Public Secretary (CPS-K), and an Associate of the Kenya Institute of Bankers (AKIB).
He has served on the Board of the SACCO Societies Regulatory Authority as an Alternate Member to the Governor. In a statement, CBK governor Kamau Thugge welcomed Nyaoma, congratulating him on behalf of the CBK Board, Management and Staff.
“I wish to congratulate Nyaoma on his appointment. It is an honour and a pleasure to welcome him back to the Central Bank of Kenya,’’ Thugge said.
Some of the CBK deputy governors’ responsibilities incude
performing duties assigned by the
governor, ensuring good governance practices and
identifying and developing
measures to mitigate operational
and market risks.