Aphindile AB Bokleni has resigned as CEO of IG Markets South Africa and joined Investec’s key services division, according to an update on his LinkedIn profile.
This move comes months later IG Group has closed its South African office as part of a restructuring. Earlier this year, the London-listed broker closed its local operations. The number of employees affected could not be confirmed, although IG previously had about 90 employees in the country.
Bocclini was appointed CEO of IG Markets South Africa in December 2023, succeeding Robert van Eeden. A change of leadership followed Reduction in IG’s global workforceaffecting about 10 percent of its employees. His tenure as CEO lasted about two and a half years.
From commercial services to CEO of South Africa
Bocclini spent nearly 11 years at IG, holding various operational and management positions in South Africa and India. He joined the company in the business services space 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.
Prior to 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 operations, and regulatory licensing.
IG completes South Africa exit
The closure of the IG office came about nine months after the broker stopped providing services through its South African entity. Customers were given the option to transfer their accounts to one of the external IG entities.
FinanceMagnates.com understands that the local office continued to operate as a marketing center after the regulated business ceased. IG has also handed over its ODP licence, which is the license required to offer CFDs in South Africa.
This article was written by Tariq Sikdar at www.financemagnates.com.
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