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.

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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.