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 ten employees. Twenty-five years later, we celebrate our silver jubilee with twelve offices across the country, a branch in Guernsey, 450 staff, and R45 billion under management. Our services span the range from asset management and fiduciary to philanthropy and treasury.

The passing decades have seen many milestones. In 1998, we were the first to introduce the discretionary mandate for individual clients. And, in 2013 the first donor-advised fund in South Africa was launched: the Citadel Philanthropy Foundation.

Across our history, we have been named ‘best medium-size company to work for’, evolved our logo four times, and successfully (and successively) retained 97% of our clients.

As we mark our 25th with joy and optimism, there is also much to be hopeful about in South Africa. Our president has put out a call, thuma mina – or ‘send me’. We join in that chorus – not out of expediency, but because Citadel has always been willing to step up, to walk the ethical path, and be ‘sent’. Our Philanthropy Foundation, for example, continues to do groundbreaking work. We can rightly hold it up as an example of a collective making a difference in the lives of countless individuals.

In the years to come, you can be sure that Citadel will continue to strive to be remarkable. Ours is a company with a heritage we can all be proud of, and a future that looks both secure and sensational. We promise to continue providing you and your family with the kind of personal financial service we would offer to those closest to us; to our families. And we remain firmly focused on our vision to be the best wealth management company in South Africa.

  • 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
  • Citadel offices now number 14: Claremont, George, Stellenbosch, Tygervalley, Sandton, Randburg, Pretoria, Kloof, Port Shepstone, Umhlanga, Port Elizabeth, White River, Bloemfontein and, offshore, in Guernsey
  • The Citadel Philanthropy Foundation celebrates five years of making a difference in the lives of South Africans