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IG Group’s South Africa CEO Exit Amid Global Workforce Cut

IG Group CEO Exit

Aphildile AB Bokleni will replace Robert van Eyden as CEO of IG Markets as part of the company’s decision to reduce the global workforce by 10 per cent and increase financial efficiency. 

In a strategic move to streamline operations and cut costs, IG Group (LON: IGG), a pioneer in retail brokerage, has bid farewell to Robert van Eyden, who served as the Chief Executive Officer for South Africa. The decision is part of the company’s broader initiative to reduce its global workforce by 10 per cent, confirming IG’s commitment to financial efficiency, as disclosed to Finance Magnates.

Aphindile AB Bokleni, previously the Chief Operating Officer at IG’s South African division, has stepped into the CEO role for IG Markets SA, seamlessly taking over van Eyden’s responsibilities while retaining his position as COO.

An IG spokesperson confirmed van Eyden’s departure, stating, “Robert is no longer with the business. Aphindile will be picking up Robert’s responsibilities in South Africa alongside his existing remit.”

With a rich history dating back to 1974, IG Group is one of the oldest and largest retail brokers, specialising in forex, contracts for differences (CFDs), spread betting, and various financial instruments. The decision to trim the workforce by approximately 300 employees, constituting 10 per cent of the total, was announced in October 2023 to achieve an annual savings target of £50 million.

Robert van Eyden, who assumed the role of South Africa CEO in mid-2022, brought three decades of extensive experience, spanning academic and executive positions within prominent financial service brands. His replacement, Aphindile AB Bokleni, has been an integral part of IG South Africa since 2015, progressing from Trading Services to COO. 

This leadership transition follows the departure of IG Group’s former CEO, June Felix, in August 2023 due to health issues. While the company continues its search for a permanent CEO, Charlie Rozes, the Chief Financial Officer, currently holds the position on an interim basis.

Read also: BlackRock aims High: ETF Proposal

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