Since the establishment of Truffle in 2008, we have successfully grown our capabilities, client base, and assets under management. This is evidence of our ability to build a winning team. Each team member adds to the collective experience of investing through varying market conditions and investment cycles, contributing to our cumulative insights in their own unique way.
Meet the team
The unique experience of each team member contributes to our collective insights.
Investment team
B.Com. (Hons) (Investment Management)
Iain has been part of the Truffle team since 2010 and has over 30 years of industry experience. He began his career at RMB Asset Management in 1993. In his 16 years with the company, Iain held various positions including serving as a member of the Board of Directors and the Management Board, as well as fulfilling the role of a senior investment professional in the equity team. Iain’s move to Truffle was part of his decision to move from the corporate environment into a smaller owner-managed asset management business where he could be part of building a larger concern.
M.Bus.Sci., Fellow of the Faculty of Actuaries (FFA)
Saul has over 25 years of experience in investment and portfolio management and has been part of the Truffle team since 2016. He worked for RMB Asset Management for over a decade, where he managed a range of equity and balanced funds that won numerous industry awards. Saul then moved to Argon Asset Management where he held the position of Head of Equity for over four years. During this period, equity assets under management grew rapidly from approximately R8 billion to over R20 billion and investment performance comfortably exceeded benchmark returns. Additionally, Saul was responsible for implementing Argon’s equity investment philosophy and process.
CA(SA)
Nicole joined the Truffle team in 2015 and has been in the financial industry for over 25 years. After graduating, she completed her articles at PricewaterhouseCoopers. Nicole discovered her love for investments whilst working at Merchant Banking in London. On her return to South Africa in 1997, Nicole joined RMB Asset Management where she held various investment roles, including those of senior equity analyst and portfolio manager. During this time, various funds which she co-managed won Raging Bull and Standard & Poor awards. She remained with RMB Asset Management until 2015 where her final position was Deputy Head of Equity Research.
M.Com., CFA
Sophié-Marié has been part of the Truffle team since 2016 and has over 25 years of investment experience as an equity analyst and fund manager. She began her career at RMB Asset Management as a trainee analyst and worked her way up to the role of senior investment professional where she performed equity research and co-managed various funds. During this time, these funds won several Raging Bull and Morningstar awards. In 2011, Sophié-Marié joined Argon Asset Management as an equity analyst and co-manager of all the equity funds under management.
CA(SA)
Hannes co-founded Truffle in 2008 with Louis van der Merwe. He began his career at RMB in 1989 on the money market desk where he was instrumental in starting the forward rate agreement market in South Africa. Hannes then joined the stockbroking company Huysamer Stals, where he became a director and specialised in trading hybrid instruments between equity and the interest rate markets. In 1996, Hannes was approached by start-up company Mettle (Boland Financial Services) to take on the role of treasury specialist. This involved a close working relationship with Boland Bank and in 1997, he was asked to take over as Treasurer of Boland Bank. Through takeovers and mergers, Hannes became the Treasurer of NBS Boland Bank (later BoE Bank), which was taken over by Nedbank in 2003. In 2005, Hannes was appointed Head of Global Markets and an EXCO member of Nedbank Capital.
B.Bus.Sci. (Hons) Finance & Economics, CFA
Raihan completed his B.Bus.Sci qualification in 2011 through the University of Cape Town and is a CFA Charterholder. He joined Truffle in January 2023 as a portfolio manager in our fixed income team. Formerly, he was at Counterpoint Asset Management, where he co-managed the Counterpoint SCI* Enhanced Income Fund and the Counterpoint SCI* Money Market Fund. Raihan joins Hannes van der Westhuyzen in managing the Truffle SCI* Income Plus Fund, as well as the fixed income portions of Truffle’s multi-asset mandates.
CA(SA), CFA
Thishan joined Truffle in 2014 as an Equity Analyst. He completed his articles at PricewaterhouseCoopers in the financial services and investment management division. Thishan then joined RMB Asset Management as a junior equity analyst where he worked on the RMB Small and Mid-Cap Fund and later covered larger industrial and financial companies. In 2012, Thishan joined Kumba Iron Ore as a senior strategy analyst and served as a trustee on their Pension and Provident Fund, as well as a member of their Investment Committee.
CA(SA), CFA
Etienne qualified as a CA(SA) in 2012, after completing his articles at Greenwoods Chartered Accountants where he gained invaluable experience in various sectors, including manufacturing, property, and industrial. Etienne then joined Truffle in 2013 as an Equity Analyst and became a CFA Charterholder in 2016. He covers various sectors for the Truffle equity team, including property, healthcare and pharma, diversified industrials, gold, as well as various mid-caps.
B.Com. Quantitative Finance, CFA
Vuyolwethu started her career in financial services in 2014 at Nedgroup Investments in the manager research team. After 3 years, she joined Perpetua Investment Managers as an equity analyst, where she was responsible for analysing various South African listed financial, consumer discretionary, and paper and packaging shares. During this time, she was responsible for conducting ESG research in terms of the companies themselves, as well as for the improvement of the overall ESG processes. Vuyolwethu joined Truffle in 2021 as an ESG Analyst.
M.Com., B.Com. (Hons), B.Tech.
Lebohang joined Truffle in March 2024 and is an investment professional who has worked as an equity analyst since 2016. Prior to joining Truffle, he worked at Argon Asset Management, where he was responsible for coverage of mining companies, commodities, and industrial companies. He joined the investment industry in 2016 after acquiring a qualification in metallurgical engineering from the University of Johannesburg, which was later augmented by a master’s degree in finance specializing in corporate finance and valuation from the University of Cape Town.
B.Com. Investment Management, CFA
Mark joined Truffle in September 2024 as an Equity Analyst. He brings extensive knowledge and experience analysing stocks across various sectors, both locally and globally. He began his career at JP Morgan in 2011 before joining Novitas Capital Advisors as a corporate finance analyst in 2013 where he worked with various public and private companies. During his 3 years he worked as part of a team on various projects such as capital raising, mergers and acquisitions and concluding sale mandates. Following this, he joined Excelsia Capital as an Equity Analyst where he was responsible for covering the telcos, media, general industrials, paper, chemicals, tobacco and beverages both in South Africa and globally. After 2 years, Mark was promoted to Head of Research where he was responsible for leading the development and implementation of the equity research process.
Mark holds a B.Com. degree specialising in Investment Management from Stellenbosch University which he completed in 2009. He became a CFA charterholder in 2014.
B.Sci. Actuarial & Financial Mathematics, B.Sci. (Hons) Statistics
Leyyah joined Truffle in July 2024 as an analyst in our fixed income team. Leyyah holds a Bachelor of Business Science in Actuarial and Financial Mathematics, as well as Honours in Mathematical Statistics from the University of Pretoria. Prior to Truffle, she was a performance analyst at Coronation Asset Management for over 2 years. She is a driven individual who enjoys working with statistical models. Leyyah plans to pursue the CFA qualification to further enhance her skills in investment analysis and portfolio management.
B.Econ.Sc. (Hons) Economic Science
Blessing became a part of Truffle’s Internship Programme in January 2022 following the successful completion of his Honours qualification in Economic Science from The University of Witwatersrand. After concluding his internship, he became a Distribution Analyst at Truffle later that year. With a zeal for mathematics, problem-solving, and unraveling the interplay of markets, Blessing boasts a solid background in both mathematics and economics. This foundation propelled him to assume the role of Fixed Income Analyst within our investment team in November 2023.
BCom (Investment Management)
After graduating from the University of Pretoria in 2015, Sibusiso joined STANLIB Asset Management as a quantitative analyst in the Absolute Return franchise. His role involved maintaining the fund’s asset allocation, derivative, and risk analysis reports. Thereafter he went on to join the STANLIB equity trading desk specialising in equity and foreign exchange trading. Sibusiso joined Truffle in 2020 as part of the investment team where he is the head Trader and Derivatives Analyst.
B.Com. Accounting
Samkeliso holds a B.Com. Accounting degree from Nelson Mandela University. She started her career in financial services in 2018 at PSG Wealth as a wealth adviser assistant. Samu is driven by the pursuit of client satisfaction and originally joined Truffle as a member of the operations and client service team. Samu showed a flair for trading and has since moved across to the investment team as an Equity and Bond Trader ensuring the best execution of trades in the market.
Distribution team
B.Com. (Hons) Investment Management, CFP®
Simone joined Truffle in 2018 as the Head of Business Development and Client Service. She started her career in financial services at Old Mutual in 2011 and thereafter spent five years at PSG Wealth as a financial planner and wealth manager. She achieved the highest mark in South Africa for the Certified Financial Planner® board exam in 2017. Simone has a passion for both investments and clients. She is responsible for the overall business development function at Truffle which includes both retail and institutional investors.
B.Bus.Sci. Finance, PGDA, CA(SA)
Lindsay joined the Truffle team in 2022. She began her career at Deloitte in 1998 where she completed her articles in the Financial Services division. Following three years in London in corporate finance roles at Deloitte and Interoute Telecommunications, Lindsay returned to South Africa to pursue a role in investor relations. She joined Brunswick and later Investec where she gained valuable experience in financial communications and investor relations. For the next 12 years Lindsay worked for Liberty Group holding various roles within LibFin, Liberty Investments, and later STANLIB including Head of Liberty’s Client Portfolios and STANLIB Investment Proposition Manager.
B.Com. (Management)
Simon joined Truffle in 2016 and has over 20 years of industry experience. His career began in 1995 when he joined Old Mutual. After leaving Old Mutual, Simon worked for various asset managers and administrators in the UK for five years. On his return to South Africa, he joined Momentum where he worked on the offshore side of the business. In 2010, Simon joined Momentum Collective Investments in the client care division, later moving on to premier servicing.
B.Com. (Hons) Economics, Risk, & Investment Management
Gerda holds a Bachelor of Commerce and Honours in Economics, Risk, and Investment Management from the Nort-West University of Potchefstroom. She started her career at Harbour Advisory as a Financial Advisor and Fund Analyst. During this time, she completed her Postgraduate Diploma in Financial Planning and obtained the CFP® title. Gerda joined the Truffle team in June 2024 as a Client Service Specialist. She has a passion for investment management and is committed to ensuring that clients achieve their financial objectives.
B.Com. (Hons) Financial Analysis & Portfolio Management, CFA
Thandi joined Truffle in 2023 to head up the Institutional Distribution strategy. She began her career at Investec Bank in 2010 before joining the Investec Bank Australia Team one year later, where she consulted on treasury products to retail clients and superannuation funds. In 2012, she moved to Investec Wealth and Investment where she cut her teeth in the investment industry. In 2019, Thandi moved away from private client investments into the institutional space, joining Benguela Global Fund Managers to head up their business development team.
B.Bus.Sci Finance
Kiara holds a Bachelor of Business Science in Finance from the University of Cape Town. She began her career at Northstar Asset Management as a Business Development Consultant. Kiara joined the Truffle team as a business development analyst in 2022.
B.Com. (Hons) Economics
Zai joined Truffle as a Distribution Intern in May 2024. She completed a Bachelor of Commerce specialising in Economics and Finance before pursuing her Honours in Economics at the University of Cape Town.
Operations team
CA(SA), M.Com. Taxation
Craig joined Truffle in 2018 and has over 20 years of industry experience. Craig began his career at Standard Bank where he provided securities services and solutions to asset managers, global banks, pension funds, and the collective investment scheme (CIS) industry. From there he moved on to design, develop, and implement fund administration operations for two Nigerian banks as well as a South African CIS management company. As part of this role, Craig was responsible for providing Truffle with outsourced fund administration and management company service for many years. Recently, he advised Truffle on various product-related strategies, both from a structural and tax point of view. Craig has passed level 1 of the CFA exams.
B.Compt., Associate General Accountant (AGA) (SA)
Thelma joined the Truffle team in 2012 as a senior administrator and has over 25 years of experience. She has previously worked in administration in the stockbroking, asset management, and hedge fund industries where she gained a wealth of invaluable experience. Thelma has a passion for people and always goes the extra mile.
B.Sc. (Hons), M.Sc. Mathematical Statistics, Certificate in Investment Performance Measurement (CIPM), CFA
Nicholas began an internship at Truffle in 2013 where he managed data to be disseminated to clients. In 2014, he officially joined the Truffle team on the quantitative side of the business. His current responsibilities include developing tools to assist the investment team, calculating fund performance for attribution and contribution reports, data management, and order management on the trading system. Nicholas enjoys increasing efficiency via automation.
B.Com. Economics, LLB, PGDip in Financial Planning
Bio: Keitumetse joined the Truffle team in June 2024 to head up the Legal, Compliance, and Risk division. She was admitted as an attorney in 2016, then began her career in financial services at PSG Wealth. She spent five years there, starting in compliance and later being appointed as the Legal Manager where she was responsible for providing legal advice, contract management, oversight of regulatory compliance, and helping the group mitigate risk in areas such as wealth management, retail fund investments, linked life insurance, and retirement funds. Prior to joining Truffle, Keitumetse was part of the legal team at the Public Investment Corporation.
B.Sc. (Hons) Mathematical Statistics
Tlhologelo completed his Bachelor of Science degree in Mathematical Statistics at the University of Pretoria and is presently pursuing his Masters at the University of Witwatersrand.
He started his career as a data analyst at PSG Wealth in 2017. Tlhologelo then joined Novare Actuaries & Consultants as a manager research analyst where he was responsible for conducting a quantitative and qualitative analysis of various asset managers. Tlhologelo is a data-driven, analytical, and calculation-inclined individual who joined the Truffle Quantitative team as a performance analyst in 2022.
B.Sc. Actuarial Science, B.Sc. (Hons) Mathematical Statistics
Lilita is a mathematically and statistically inclined individual with a passion for problem solving. She completed a Bachelor of Science specializing in Actuarial Science in 2022 and further pursued an honours in Mathematical Statistics, both at the university of the Free State. Lilita joined Truffle in April 2024.
B.Com. Financial Accounting, Professional Accountant (SA), Professional Tax Practitioner (SA)
Prudence holds a Bachelor of Commerce Financial Accounting degree from North-West University. She started her career as a South African Institute of Professional Accountants (SAIPA) article clerk in 2016 and qualified as a member in 2018. Prudence then worked as an accountant at Mackinnon Anderson for 2 years. Prudence joined Truffle in 2022 as the Accountant and Administration Officer. She is a motivated and driven individual who strives for excellence and client satisfaction.
B.Com. Accounting
Ethel started her career at Telesure Investment Holdings as part of the finance operations team. She then joined Truffle’s graduate internship programme in 2022. Ethel is an ambitious and self-driven individual.
B.Com. (Hons) Finance
Rosemarie completed her Bachelor of Commerce degree in Finance with Honours at the University of the Western Cape. She started her career at JP Morgan in 2008 as a trade support specialist and then relocated to Johannesburg to join Sanlam Private Wealth in 2012. Following this, she joined ABSA Stockbrokers as a portfolio manager assistant. Rosemarie joined the Truffle portfolio administration team in 2022 where she has brought over 10 years of portfolio administration knowledge and learnings with her.
PGD Business Administration
Olga started her career at Standard Bank where she worked as a teller and banker’s assistant in branch banking. After 10 years, she moved to Stanlib where she held the position of offshore trades settlement specialist. Olga joined Truffle in 2022 and brings a wealth of expertise. She is currently completing her MBA.
B.Com. (Hons)
Namhla completed her B.Com. (Hons) Investment Management degree at the University of Johannesburg. She spent 3 months in Retail Banking at Access Bank and a further 6 months as an Academic Tutor. Namhla is a self-driven individual who enjoys challenging herself. She joined Truffle in February 2024.
Professional Assistant & Receptionist (Cape Town)
Natalie joined Truffle’s Cape Town office in July 2023 as a professional assistant, filling a much needed role in supporting our senior investment team as the business continues to grow and evolve. Natalie has developed extensive expertise working across all organizational levels to support delivery of business strategies and create operational efficiencies. She also has investment and wealth management industry experience having previously worked at Northern Cross Wealth Management in the position of professional assistant and office manager where she helped facilitate and manage the framework in client servicing, regulatory compliance, finance, and operational support functions. Natalie is passionate about creating an interactive and enjoyable business environment that supports learning, and she is working towards her BA in Public Administration.
Vida handles all administrative support tasks for our Cape Town office. She has many years of experience as a receptionist and ensures the office runs smoothly.
Bella provides a fundamental service to our staff and visitors. She is responsible for setting up meeting rooms and ensures efficient management of all office supplies.
Non-Executive Directors
B.Com. Investment Management
Louis is one of the founding members of Truffle. He joined RMB in 1988 after graduating. He started trading in the fledgling equity derivatives markets and found his niche in arbitrage and structuring activities in the equity market. Louis then headed up the equities division of RMB until 2002, where he was responsible for the proprietary trading, structuring, stockbroking, commodities, scrip lending, and futures clearing activities. During this time, Louis served on the RMB Board, as well as on the Exco of the JSE and SAFEX. He then left RMB in 2002 to take up the position of CEO of RMB Asset Management, one of the largest asset managers in South Africa, managing assets in excess of R200 billion at the time. In 2008, Louis left, and established Truffle with Hannes van der Westhuyzen. Louis retired in 2021 and remains the Chairman of the Board at Truffle.
B.Com. (Hons) Investment Management
Alida started her career at RMB in 1999 as part of the derivative structuring business. She later had the responsibility of establishing the institutional structuring business and financial markets research team. In 2008, Alida was appointed as the Head of Sales and Structuring for fixed income, currencies, and commodities, and then Head of Financial Institutions for global markets in 2014. She then joined RMI Investment Managers as Head of Distribution and Marketing and assumed the role of CEO in 2018.
B.Bus.Sci. (Hons) Finance
Zama has extensive experience in the investment industry and works with Truffle’s distribution team and the Board in its asset raising initiatives within the retail industry. Her asset management career began in 2004 when she joined Coronation Fund Managers as an investment specialist in the retail distribution team. After 10 years, she left to pursue a slight change in career and joined the Debt Capital Markets distribution team at RMB where she assisted various corporates and SOEs raise debt capital from asset managers in bond auctions and private placements. Zama holds a Bachelor of Business Science with an Honours degree in Finance from the University of Cape Town and a Postgraduate Diploma in Certified Financial Planning from the University of the Free State.
B.Com. (Hons) Financial Analysis & Portfolio Management
Mcebo has more than 7 years’ experience in financial services and investment management having joined RBH from Barclays, where he worked as an Investment Banking Analyst in Corporate Finance and M&A. He gained experience with a focus on research and analysis across various sectors as well as company valuations and financial modelling. Prior to joining Barclays, he worked as an Operations Consultant at Allan Gray where his focus areas were client services and investment administration. Mcebo represents Royal Bafokeng Holdings as a director at Royal Investment Managers.