Having studied mathematics rather than finance, I forged an untraditional path to banking and secured work as an equity trader at a small investment bank in Cape Town. However, just a year into my chosen career, the optimism with which I viewed the industry was soured somewhat by the failure of Saambou in 2002, which subsequently triggered the failure of other banks, including the investment bank where I was working.
In what became known as the A2 Banking Crisis, 22 South African banks ultimately failed. At the time, it struck me as unusual that such a large proportion of our banks could collapse so suddenly – surely, this could not have been a purely random event. It was at around that same time that I founded Monocle Solutions, a South African-headquartered international management consulting firm specialising in banking and insurance. A few years later, the 2007/08 Global Financial Crisis hit, during which a staggering 11% of the 1 000 largest banks in the world collapse
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