SAIFM 7^th Regulatory Summit

Valdene Reddy is the Director of Capital Markets. In this capacity she is responsible for all primary and secondary market activity across all asset classes, as well as Issuer Services. This includes the sourcing of new debt and equity primary issues, the development and on-going management of all secondary market trading in cash and derivative markets (Equities, Bonds, Interest Rates, Commodities and Currencies), and new product and market development across Capital Markets.



Valdene’s career spans over 15 years across various financial institutions.


She began her career in 2005 at the Bank of America Merrill Lynch where she worked in equity sales and trading, focused on covering local institutional clients. A year later, she moved onto their derivatives desk, where she focused on a vast span of equity-linked derivative products, facilitating the sales, structuring and trading of these instruments with local and foreign clients. The product universe included marketmaking and sales in standard and custom index futures and options, various other delta 1 instruments such as swaps, futures and forwards, and complex non-linear, derivative structures.


Thereafter, Valdene moved to Renaissance Capital as Head of Equity Derivative Sales, strategically leading the change from a broking to market-making model, across listed equity derivative products. The client coverage universe was primarily servicing institutional clients which included time on the Renaissance Capital International desk covering SA, Russian & other African markets.

For the past 5 years, Valdene has been at the JSE, previously as Head of Equity & Equity Derivatives within the Capital Markets division. In this role, her primary focus was building and leveraging services and relationships across JSE clients (member firms, institutional and retail investors, brokerages and banks) to enhance and develop new products and offerings within the Equity & Equity Derivatives markets. Valdene graduated with a Bachelor of Business Science, Actuarial Science degree from the University of Cape Town.

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Ingrid Goodspeed has over 30 years’ banking and financial market experience in the areas of treasury, risk management, compliance, investment analysis, economic research, internal audit, information technology and management information. And 6 years in South Africa’s National Treasury as a financial sector policymaker.

Ingrid is currently an independent consultant with projects including: A study of the role of private equity in the economy for Intellidex (2022), Proportionality in banking regulation for Intellidex (2021) and Financial Markets Review for the South African Reserve Bank (2018). Before that she was with National Treasury, Nedbank, Deloitte, Teba Bank (now Ubank), Absa Securities and Absa Capital.

She is a Chartered Director (SA) and Fellow of the South African Institute of Financial Markets (SAIFM). She holds an MBL (cum laude), a BCom Honours (Economics) and an LLB from Unisa.

Ingrid serves on a number of boards and trusts including the SAIFM, the Investment Analysts Society of South Africa, Payments Association of South Africa, ASISA Enterprise and Supplier Development Fund, ASISA Foundation and Momentum Metropolitan ESD Fund.

Ingrid has published a number of books and articles.

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Melissa has a BA LLB degree from the University of KwaZulu Natal, South Africa. She also qualified in New York and was admitted to the New York Bar in February 2006.

Melissa is a derivatives lawyer with more than 24 years of experience in the industry. She worked for JPMorgan Chase Bank in London for 8 years in their legal department primarily negotiating the ISDA®, GMRA and GMSLA Master Agreements.

On returning to South Africa in 2007 Melissa founded DeriviDoc which, 15 years on, has grown into the leading legal consultancy in the OTC derivatives space. DeriviDoc’s advisory and training services are sought after across the African continent.

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Dr Steven Msomi is the Co-founder and CEO of Kabusha Advisory, which is a mergers and acquisitions, transaction advisory and capital raising entity. He is also the Governor of the South African Institute of Financial Markets (SAIFM); an executive director at Nolands Capital and Digitlab board member. Steven has over 20 years of corporate experience and has worked in investment banking, mergers and acquisition and equity derivative trading roles for companies like SA Stockbrokers, Rand Merchant Bank, FNB Private Clients, PSG-Konsult and Sanlam. Equipped with a PhD in Finance from UKZN and a Master’s Degree in Applied Finance from USQ in Australia, Steven lectured Investment and Corporate Finance to MBA students at UKZN Graduate School of Business. Steven has capabilities in both investment and corporate finance, and is experienced in capital raising, valuation, due diligence, financial modelling, deal structuring, investment analysis and portfolio management.

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Milton Segal is a Chartered Accountant (SA) and holds the following degrees and diplomas from the University of the Witwatersrand (Wits): Bachelor of Commerce, Higher Diploma in Accountancy and Master of Commerce (Taxation).

He leads the Standards portfolio, which is the technical member-facing division within SAICA responsible for thought leadership, advocacy, guidance, and standard setting in the areas of Audit and Assurance; Corporate Reporting (IFRS, IFRS for SMEs, Non-financial reporting, and Sustainability);
Public Sector and Standard’s Ethics
Taxation.

Milton represents SAICA (and South Africa) on the following key structures:

-The Emerging Economies Group – an advisory group of the International Accounting Standards Board.
-The International Federation of Accountants (IFAC) Professional Accountants in Business Advisory Group.
-The Integrated Reporting Council of South Africa.
-IFRS Foundation’s Integrated Reporting and Connectivity Council (Alternate to the CEO)
-The ESG Exchange’s Technical Committee.
-The Independent Regulatory Board’s (IRBA) Committee for Auditing Standards – Invitee.

Prior to joining SAICA, Milton was the head of the Financial Accounting Division at the Wits University School of Accountancy. Milton had set and reviewed numerous examinations for Wits and was part of the SAICA examination marking team as well as the SAICA university accreditation team. He is a published researcher in local and international journals and has presented papers at local and international conferences. Milton has extensive experience in IFRS and is proud to represent the profession and interests of members in this regard.

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Mike Adsetts started at Momentum Investments in May 2008. He has a broad range of experience, spanning investment consulting, investment/portfolio management, product development and client servicing he has gained at Momentum Investments as well as Old Mutual and Alexander Forbes.



He has been working in the investment field for 14 years.



Mike was appointed as acting chief investment officer (CIO) effective 1 November 2022 and was the deputy CIO from March 2017. He is responsible for ensuring the outcome-based investing philosophy is embedded and represented in decision-making processes, research initiatives, governance and, ultimately, portfolios managed by the investment team. He also acts as an ambassador and elevates the profile and understanding of the philosophy across all stakeholder groups.



Mike has a BSc Honours degree from the University of the Witwatersrand, an MBA from Wits Business School and is a holder of the Chartered Financial Analyst designation.

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Patrick Bracher has years of invaluable experience and an in-depth knowledge of insurance law (pure insurance, regulatory aspects and the commercial side), financial transactions, regulatory law and constitutional human rights law. His knowledge also embraces related financial services such as financial intermediaries and medical schemes. He advises many of South Africa’s life and non-life insurers, the South African Insurance Association and Lloyd’s of London in South Africa.

Patrick is known for his clear opinions, practical advice and plain language. He has written countless articles and presented many lectures and seminars. He is the main author of his widely-read blog financialinstitutionslegalsnaphot.com.

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Faizel Jeena has over 25 years of experience in banking and finance. He has held a number of roles in the banking sector and as a prudential regulator and supervisor of banks and insurers. He is the Head of the Risk Support Department in the Prudential Authority at the South African Reserve Bank. The Risk Support Department is responsible for providing regulatory, supervisory support and technical expertise on all prudential risk types for insurance, banking and market infrastructures. It also provides quantitative analysis, actuarial analysis and financial institution statistics used in the Prudential Authority. Faizel has represented the South African Reserve Bank at a number of Basel Committee working groups. He is a Chartered Accountant by training and holds the degrees of Bachelor of Commerce (Law) and Bachelor of Accountancy.

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André is a member of the Executive Board of SIX Swiss Exchange AG, where he serves as Global Head Sales and Relationship Management. He is responsible for trading members and acquisition across all asset classes, covering ETFs, crypto ETPs, securitized derivatives, structured products, fixed income and equities, as well as being responsible for the Exfeed and Connexor reference data platforms. Prior to this, he held several leadership roles within the organization. Overall, André has over a decade of experience within the financial industry.

Emile Fourie specializes in corporate structuring in private markets and financial liquid instruments with a specific focus on tax structuring and international tax. He has worked across various fields and across global jurisdictions with a focus on client solutions and structuring that allows clients to trade globally. He has built a golden track record with big names in the industry including KPMG; PWC and First Rand Bank.

Emile is a director of Orpheus Capital. Orpheus provides technical, operational and business consultancy services to leading companies operating in the UK, South Africa, Channel Islands, Israel, and Switzerland and assists with enablement across public, private and digital market assets. We provide technical skills and consultancy services out of reach for most companies and provide them access to our issuance platforms. Orpheus’s platform was born out of a need to bridge the gap between asset owners and their investors in a simple and transparent fashion. We enable our clients to thrive in the digital age by making assets manageable and bankable.

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Lyle Horsley was appointed as the Divisional Head of the Fintech Unit at the South African Reserve Bank
(SARB) in November 2021. Lyle previously worked as a lead policy specialist in the Prudential Authority at the
SARB, with a focus on policy and regulatory matters in banking and financial markets. Lyle is an admitted
attorney and conveyancer in South Africa, having obtained her Bachelor of Laws degree from the University
of Cape Town and her Master of Laws (cum laude) degree from the University of Witwatersrand. Lyle has also
served as a researcher to former Chief Justice Pius Langa at the South African Constitutional Court and worked
as a senior associate at one of Africa’s leading law firms, Cliffe Dekker Hofmeyr, in South Africa. Lyle recently
completed the Cambridge SupTech Lab Innovation Leadership Programme by the Cambridge SupTech Lab at
the Cambridge Centre for Alternative Finance, Cambridge Judge Business School and served on the judging
panel for the G20 Indonesia Techsprint on CBDCs in 2022.

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Proc, LLB, LLM Corporate Law and Tax, PGDip Financial Planning, Certified Financial Planner licensee

Solly is an experienced executive in the financial sector with about 20 years’ experience in the financial sector spanning financial planning, tax, life insurance, retirement funds, estate planning, asset management, capital markets and financial regulation. He is an admitted Advocate of the High Court of South Africa.

He joined Assupol in January 2020 to fulfil the role of Group Executive Head for Governance, Legal, Regulatory Compliance for the Assupol Group and serves as director of some subsidiaries of the Group. Prior to joining Assupol, Solly held senior positions at the Financial Sector Conduct Authority as Head of Market Abuse and as Head of Market infrastructures and Self-regulatory Organisations. He was chairperson of the Financial Planning Institute of Southern Africa, director of the Institute of Retirement Funds, and governor of the South African Institute of Financial Markets. Solly has co-authored two published books on tax and investments and finance law, is a graduate of the UCT Graduate School of Business (UCT GSB) and an Associate of the Toronto Centre in Canada which provides Global Leadership in Financial Supervision. He is currently registered for the UCT GSB Executive Master of Business Administration Program from which he has developed a passion for strategy, soft systems thinking, integrative thinking, personal mastery, personal leadership and personal transformation.

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Adam has over 35 years’ experience in the South African financial services industry. He has been a governor of the SA Institute of Financial Markets for over 20 years and is currently the chairperson. He has been a director of two stock broking companies and an investment structuring company.

Adam has vast experience in the equity, bond and foreign exchange markets and has been involved with derivatives from their introduction to South Africa in the late 1980s.

He has been instrumental in designing and implementing structured transactions for asset managers, pension funds, life companies and CIS funds.

Adam works at Absa CIB as a Senior specialist in the Index and Structured Solutions team.

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With 17 years’ experience in the financial sector in legal, compliance and regulatory policy roles, both from the private and public sector perspective, Eugene is a financial sector regulatory policy expert and is responsible for driving many of the major policy and regulatory developments taking place within the financial sector. As Head of the Regulatory Framework Department of the FSCA, Eugene is responsible for the development and maintenance of all legislation falling within the scope of the FSCA’s jurisdiction, thereby supporting the FSCA in achieving its strategic objectives and ensuring emerging risks in the financial sector are responded to effectively and timeously. Eugene also plays a key role in working closely with government departments such as National Treasury in developing primary legislation impacting the financial sector (e.g. the Conduct of Financial Institutions Bill, Financial Markets Act Review, etc). He has been instrumental in transforming the current regulatory landscape to adapt to the Twin Peaks architecture and ensuring that financial sector legislation become more outcomes- and principles-based. Eugene holds B.Com Law and LLB degrees, and various post-graduate qualifications.

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