Chairman (Non Executive)
Karl graduated from UCT in 1992 with an honours degree in Business Science (Statistics and Operations Research). He then went on to work in a number of industries, including market research and retail/general consumer finance, holding positions such as Strategy Manager for Foschini Group Credit Services (1994 - 1997) and General Manager - Customer and Risk for Direct Axis (1997 - 1999).
Karl co-founded the well-known consumer finance business RCS Group in 1999, where he served as CEO until December 2008. Under his guidance, the RCS Group grew to 800 staff, 600 000 customers, and a product suite including direct personal loans, general-purpose cards, home loans, vehicle finance, insurance and private label cards. RCS Group is now the leading provider of independent credit services to retailers in Southern Africa, including Botswana and Namibia, with a total book under management of approaching R3bn.
Karl is a keen entrepreneur and has co-founded a further two successful businesses in the the last 24 months in the fields of specialist recruitment and 3rd party processing/software services.
Jaco has over 15 years of banking and retail credit risk management experience, at both an operational and senior management levels, gained in the banking, consultancy sector and retail personal loans sectors in South Africa, Africa and Middle East.
In his most recent role, as Group Risk Manager at RCS Group, he was responsible for all credit and risk management across multiple product portfolios including revolving credit, unsecured and secured personal loans, co-branded credit products with a total portfolio value of almost R3bn. RCS Group is the leading provider of independent credit services to retailers in Southern Africa (South Africa), including Botswana and Namibia.
Jaco has an MBA from the University of Pretoria (via Gordon Institute of Business). He is also a keen entrepreneur and has an interest in two successful retail businesses in the manufacture and sale of fashion and confectionary.
Miguel Da Silva
Miguel is a CA (SA) and has 5 years of experience in the audit industry and over 2 years financial management experience.
He started his career at Ernst and Young as an Audit Clerk and used his skills and hard work ethic to become Audit Manager of major clients such as Tiger Brands and BP. The size of the audit budgets managed ranged from R1m to R3m.
In his most recent role, he was the Financial Manager for Intaka Nutri which is a contract manufacturing company. He was critical to the success of landing large retailer contracts and establishing the company as a leading contract manufacturer in the Western Cape.
Miguel has also obtained an MBA through the University of Stellenbosch Business School.
Vernon de Wet
Business Development Executive
Vernon has over 20 years of senior management experience in business development, across a range of industries including FMCG, transactional banking and custom software solutions. He is responsible for the business development team and relationship management with customers and key partners. In previous roles, Vernon was responsible for the marketing of Brandcorp Holdings products into Africa, was an integral part of a team responsible for the development of a national network of over 4,000 independently owned ATM’s.
Vernon holds an IMM from the Marketing and Management Institute.
Chief Executive Officer
David has over 22 years of credit risk management, with operational and executive level experience, gained in ICT, banking and consultancy in the UK and Africa. In his early roles, he was responsible for the implementation and management of ‘value-add’ solutions to enhance efficiency and effectiveness. Following this he joined Fair Isaac providing credit risk management consulting to key clients and ensuring optimal returns on client investment in products though data, analytics, best practices and aligning operational and technical processes.
In 1999, David co-founded PIC Solutions and served as the Director of Consulting & Analytics until October 2006. From inception, PIC Solutions grew to become the leading specialist credit risk solutions company in the EMEA region offering products and services to over 150 companies in over 30 countries. During this period, PIC Solutions grew to over 100 professionals with offices in Cape Town, Johannesburg and Dubai.
In October 2006, David accepted the position of CEO of CMS Group. During this period CMS Group grew to become a leading collections service provider, debt buyer and niche credit provider, with over 650 staff, across 3 geographic centres, managing in excess of R3bn in outstanding balances. In March 2009, CMS Group and MBD Inc, 2 companies within Transaction Capital merged forming the largest collections and receivables management entity in Africa with over 3,000 employees and over R20bn of assets under management.
Marketing and Strategic Partners Executive
Geraldine has over 13 years of experience in the credit industry, gained in various positions within the credit information, insurance and retail consumer finance sectors.
She started her credit career at KreditInform (now Experian), establishing long-standing relationships with customers across various industry types. She used her proven sales ability and commitment to service delivery for a successful period in the credit insurance sector, before relocating to Cape Town to join RCS Group, a market leader in retail consumer finance.
Geraldine has played various key roles at RCS Group, and as Head of Sales was responsible for the strategy and direction of a nationwide sales team servicing the needs of over 14,000 merchants and 600,000 customers with a combined book value of almost R3.0bn.
In her time at RCS, she has been instrumental in the introduction of significant national brands into the RCS merchant base which has grown from 8,000 to 14,000 merchants in the space of three years.
Stephen J. Leonard
Stephen has over 25 years’ of specialist credit risk management experience in emerging markets, including roles with Chase Manhattan Bank, Fair Isaac Corporation and PIC Solutions.
After 7 years of credit, risk and fraud management roles in the New York banking industry, he joined the start-up of Fair Isaac International in the UK and in 7 years successfully established and grew the risk management consulting practice for the Europe Middle East Africa region.
In 1999 he co-founded PIC Solutions in South Africa and as CEO, successfully expanded the company to become the largest specialist credit risk and collections management solutions company in the emerging markets of Africa, Middle East and South Asia. He has managed assignments with over 150 clients in 30+ countries, covering the entire credit life cycle. His experience covers the complete range of organisations and products in the consumer and SME credit industries.
He is the Founder and Chief Executive Officer of Credit Risk Connection, a risk management consultancy and value-added reseller of analytics, consulting, CRM, scorecards, software and training.
He holds an AS (State University of New York), BA (University of Toronto) and an MBA (Adelphi University - School of Banking, New York). He is a member of the UK and SA Institutes of Credit Management and is a Banker’s Academy External Subject Matter Expert.