Citadel Investment Services Proprietary Limited is an authorised financial services provider.

On the cusp of South Africa’s democracy, Citadel opened its doors in Pretoria. There were 10 employees. 25 years later, we celebrate our silver jubilee with 12 offices across the country, a branch in Guernsey, 450 employees, and R50-billion assets under management and advice. Our services span from asset management and fiduciary to philanthropy and treasury.

The passing decades have seen many milestones.

  • JMM Investment Services is founded as a fee-based investment services company, with complete transparency on earnings
  • CEO: Chris Marais
  • 10 employees
  • Louis Fourie joins Citadel
  • A comprehensive, long term financial planning service model is introduced, segregating the roles of a wealth manager and wealth planner
  • Cape Town office opens
  • The company’s name changes to Citadel Investment Services and a new corporate identity is launched
  • Durban office opens
  • CEO: Dr BM Griesel
  • The company is registered with the Financial Sector Conduct Authority (FSCA)
  • 100 employees
  • Citadel celebrates R1-billion in assets under management
  • Johannesburg office opens
  • An in-house investment team, Citadel Investment Strategists (CINS), is established
  • Peregrine buys a minority share in Citadel
  • A ground-breaking software system, Horizon, is developed
  • The discretionary mandate for individual clients is introduced, a first in South Africa
  • A new corporate identity is launched
  • 200 employees
  • CEO: Rudi Stumpf
  • A joint venture is established with Deloitte: Deloitte Private Clients
  • Performance fee on portfolio level introduced (ahead of the industry)
  • An administrative platform, products and funds are created – locally, and offshore
  • Client services and marketing functions are established, focusing on client events and communication
  • A joint venture begins with Aurum Fund Managers
  • A new corporate identity is launched
  • CEO: Keith Betty
  • The comprehensive management information system is introduced
  • Citadel becomes a wholly-owned subsidiary of Peregrine
  • R5-billion in assets under management
  • Comprehensive fiduciary solutions are incorporated in association with law firm, Naudé’s Incorporated
  • A joint venture between Citadel and Sanlam is established: Cambium Capital
  • R10-billion in assets under management
  • Citadel is awarded “best medium-size company to work for”
  • The company’s value system, The Citadel Way, is created and launched
  • CEO: Neil Brown
  • 300 employees
  • Port Elizabeth office opens
  • An online trading platform, Citadel Online Securities, is launched – specialising in local and offshore direct equity portfolios
  • CINS becomes Citadel Asset Management (CAM)
  • The investment solution is expanded, covering a range of local and international cash flow and objective-matching portfolios
  • The Citadel Art Price Index is launched – a first in South Africa
  • A 50% share is purchased in The Wealth Corporation
  • The Port Elizabeth office becomes part of The Wealth Corporation
  • R20-billion in assets under management
  • CEO: Andrew Möller
  • The first donor-advised fund in South Africa is launched: the Citadel Philanthropy Foundation
  • A comprehensive advertising campaign is created across all media platforms
  • A modernised corporate identity is launched
  • A further 20% of The Wealth Corporation is acquired
  • 315 employees
  • R25-billion in assets under management
  • Citadel continues to look after the financial well-being of more than 3500 clients
  • Client retention rate remains an industry-leading 97%
  • Citadel purchases the outstanding minority interest in The Wealth Corporation, now a wholly owned subsidiary
  • 328 employees (Citadel)
  • 43 employees (The Wealth Corporation)
  • R33-billion in assets under management (including The Wealth Corporation)
  • Citadel purchases 100% of Consolidated Financial Planning
  • 400 employees
  • R34-billion in assets under management
  • Citadel Investment Services, Consolidated and The Wealth Corporation are merged into a single Citadel brand
  • Citadel initiates the development of BayHill Capital – a specialist private client share portfolio company
  • 440 employees
  • R45-billion in assets under management
  • “The Citadel” Cape Town office building is opened
  • Citadel concludes a B-BBEE transaction, funding the acquisition of a 51% controlling stake in BayHill Capital to African Financial Group – while retaining a 49% stake
  • Citadel Financial Protection is launched
  • A new television commercial communicates the concept of “reach your remarkable”
  • 450 employees
  • Citadel celebrates 25 remarkable years of success
  • 8 600 clients
  • 97% client retention rate
  • R50-billion assets under management and advice

This is Our story. We look forward to the next 25 Years.