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Daniel Stahljans

Head: High touch equity cash trading

Daniel Stahljans
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Our authors are specialists in their fields, but with a broad knowledge of markets, the economy, and the key drivers that shape the industry. Their insights are written in an engaging, thought-provoking way, to give you the inside track on the key decisions you make in your business. 
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Tertia Jacobs

Treasury economist 
Tertia Jacobs

Tertia has worked as Treasury Economist at Investec Corporate and Investment Bank since April 2002. Her responsibilities include forecasting, commentary, and presenting on macro-economic trends and data, economic policies, and the fixed income market. She provides specific coverage and insights on monetary policy, interest rates, and the rand. 

David Gracey

Head of Foreign Exchange and Fixed Income Trading 
David Gracey

David heads up the FX and FI trading desk, trading in both asset classes, and makes markets to clients in products associated with these asset classes. He also manages the risk associated with this function.

David has more than 30 years of trading experience in South African financial markets.

Neo Ralefeta

Quantitative analyst
Neo Ralefeta

Neo is part of the Treasury Structuring team, where he works closely with corporate clients to design and deliver derivative solutions that help manage interest rate, foreign exchange, and inflation risks. His role focuses on structuring a range of instruments, including interest rate swaps, cross-currency swaps, inflation swaps, and other foreign exchange derivatives tailored to client needs.

Richard Swain

Institutional Multi-Asset Sales and Structuring
Richard Swain

Richard's role as Head of Institutional Coverage, is aimed at placing Equities/Derivatives, FX, Bonds, Rates and Multi-Asset Structuring capabilities in front of SA Pension Funds, Life Companies, Asset Managers, and Hedge Funds. Hired by Investec Corporate and Investment Bank in 2005, he has headed up Listed Equity Derivatives/Equity Finance and subsequently moved into Institutional Equity Derivatives Sales, based out of Cape Town in 2012.

Nadeem Dawood

Quantitative analyst
Nadeem Dawood

Nadeem is a quantitative analyst and strategist with more than 11 years of experience in financial markets, spanning institutional equity sales and investment strategy across both South Africa and global markets, including New York. His work focuses on combining rigorous quantitative analysis with fundamental insights across asset classes to develop differentiated investment perspectives. 

Andrew Schultz

Frontier markets
Andrew Schultz

Andrew manages Frontier Markets at Investec, where the team provides execution, advisory, and ECM services to institutional and corporate clients. With over 15 years of experience in frontier markets, he has expertise in equity sales, trading, research, ECM, and advisory across sectors such as Telecoms, Pharmaceuticals, FMCG, Oil & Gas, Financials, and Cement. Andrew joined Investec in 2014 after establishing a pan-African research and trading division and served as Head of Strategy and Sales at a leading pan-African broker.

Kudzai Munetsi

X-VA Project Head and Treasury Risk
Kudzai Munetsi

Kudzai is the X-VA Project Head within Treasury Risk, where he works as part of a team delivering derivative solutions to the bank’s corporate clients. His role focuses on structuring both vanilla and bespoke derivative solutions, tailored to meet specific client requirements. He specialises in the modelling and pricing of XVA adjustments on derivative trades, including funding valuation adjustment (FVA), credit valuation adjustment (CVA), and capital valuation adjustment (KVA). This work supports accurate pricing and effective risk management across the derivatives portfolio.

About the Author
Daniel Stahljans

Daniel Stahljans

Daniel leads High Touch Equity Cash Trading at Investec, with a career spanning extensive trading and investment experience across global markets. Having worked in Frankfurt and London, he traded European markets through key periods, including the 1998 crisis, the dot-com bubble, the 2007 peak, the global financial crisis, and the quantitative easing era that followed. He also has first-hand experience navigating emerging market dynamics, including volatility, inflation, and currency fluctuations, and is particularly passionate about opportunities created by structural change and market dislocations. A trader and investor at heart, Daniel values high-performing teams that collaborate closely, challenge ideas constructively, and execute with conviction. His academic background includes Advanced Managerial Finance, Strategic Management, Security Analysis and Portfolio Management, Investment Banking, and New Venture Development.