Exotix Capital, a frontier and emerging markets specialist investment bank, has appointed the first of three new analysts to grow business in Kenya.

Faith Waitherero Mwangi, formerly Senior Research Analyst at Genghis Capital, covering banking and media, and prior to that Investment Analyst at Standard Investment Bank, joins Exotix in Nairobi, covering financials in East Africa.

She will work closely with Rahul Shah, the former Head of Research for MENA at Credit Suisse, who was hired as Global Head of Financials Research at Exotix in May.

The firm has appointed a further two new analysts and looks forward to announcing them in due course.

Duncan Wales, CEO, said: “It’s been business as usual as far as our own expansion plans are concerned. Exotix has been privileged to participate in Kenya’s remarkable economic journey in recent years and the development of its capital markets, and we’re excited by the prospects for further growth to come. We regard Kenya as a very important strategic opportunity.”

Exotix has developed an active presence on the ground in Nairobi through its collaboration with Equity Investment Bank and is building on this foundation by recruiting regional East African Equity research analysts through the firm’s newly created Research, Analytics and Data (RAD) division.

The analysts will help Exotix in its commitment to enhance liquidity and trade execution services in Kenya, and further grow market share, which reached 24%, or first among brokers, during July 2017, according to NSE data.

Esili Eigbe, Head of Africa business for Exotix, said: “Success for us comes from recruiting talented local analysts who have an inherent and deep understanding of the industries and territories they’re covering and then combining that insight with our international perspective and context. Given her impeccable record and experience, I have no doubt that Faith will help us to achieve this goal and continue to serve our clients with market-leading analysis.”

Earlier this month, Paul Domjan, the founder of Country Insights and former CEO of independent research firm 4CAST-RGE, joined Exotix to run the new Research, Analytics & Data division.

Exotix RAD, through the newly launched Exotix Research Portal, will help to facilitate direct client interaction with analysts and showcase trading ideas and thought-leading commentary produced by the research team every day on over 160 companies and government entities around the world.