IG Markets South Africa CEO Joins Investec Following Office Closure

Aphindile AB Bokleni
has stepped down as Chief Executive Officer of IG Markets South Africa and
joined Investec’s Prime Services division, according to an update on his
LinkedIn profile.

The move comes months
after IG
Group closed its South African office as part of restructuring. Earlier
this year, the London-listed broker shut its local operations. The number of
affected employees could not be confirmed, although IG previously had about 90
staff in the country.

Bokleni was appointed
CEO of IG Markets South Africa in December 2023, succeeding Robert van Eyden.
The leadership change followed IG
Group’s global workforce reduction, which affected about 10 percent of its
employees. His tenure as CEO lasted about two and a half years.

From Trading Services to South Africa
CEO

Bokleni spent
approximately 11 years at IG, holding several operational and management
positions in South Africa and India. He joined the company in trading
services before managing client operations in India. He later returned to South
Africa as a member of the management team and became Chief Operating Officer in
July 2020.

Before joining IG,
Bokleni spent nearly two years at Vunani Private Clients in Sandton. He
initially worked in business development before becoming a Trade Support
Specialist. His responsibilities included trade processing, client reporting,
portfolio management, foreign exchange operations, settlement processes, and
regulatory authorisations.

IG Completes South
Africa Exit

IG’s office closure came about nine months
after the broker stopped offering services through its South African entity.
Clients were given the option to transfer their accounts to one of IG’s
offshore entities.

FinanceMagnates.com understands that the local office
continued to operate as a marketing hub after the regulated business had
ceased. IG also surrendered its ODP licence, which is required to offer
contracts for difference in South Africa.

This article was written by Tareq Sikder at www.financemagnates.com.