End of a 30-year era for the man leading one of South Africa’s top wealth management firms

Citadel has announced that its CEO, Andrew Möller, will retire at the start of July 2026, following three decades with the company. He will stay on as a non-executive director of the company’s board.

Citadel is one of South Africa’s top wealth management companies, managing R390 billion in assets and boasting a client retention rate of above 99%.

Möller has been at the company’s helm since 2013, making him one of the industry’s longest-serving CEOs. However, he has also been with the company for three decades.

He joined Citadel in 1996, three years after it was founded as JMM Investment Services, a fee-based investment services company with only 10 employees.

In the same year Möller joined, the company’s name was changed to Citadel Investment Services, and a year later, it was registered with the Financial Sector Conduct Authority.

By then, Citadel had 100 employees and celebrated R1 billion in assets under management shortly after.

By 2006, Citadel boasted R10 billion in assets, and by the time Möller took over as CEO, it had grown its asset base to R25 billion.

Now, after 13 years at the helm, Möller has decided that it is the right time for him to retire. He will be succeeded by Citadel’s current COO, Sajeel Maharaj, effective 1 July 2026.

This succession forms part of a planned leadership transition at the company, with Möller saying his decision reflects a deliberate and responsible approach to leadership succession.

“I believe the time is right for me to retire,” Möller said. “Over the years, I’ve had the privilege of working alongside people who care deeply about this business, our clients and importantly, one another.” 

“Together, we’ve navigated uncertainty, built resilience and stayed anchored to what matters, even as the environment around us shifted.”

He explained that, when one has been a part of something for as long as he has, “it becomes personal”.

The new man set to lead Citadel

“For me, this moment is less about ending a role and more about honouring the responsibility that came with it – to leave the business stronger than I found it and ready for the next season,” Möller said.

He will continue to serve on Citadel’s board as a non-executive director, which will ensure strategic continuity, while allowing new leadership to guide the next chapter.

Möller said Maharaj’s experience and knowledge of the business will ensure a smooth transition as he steps into the role of CEO.

Maharaj has been with Citadel since 2018, following more than a decade of experience in corporate finance in London and Johannesburg.

He previously worked on corporate strategy, mergers and acquisitions, and capital raisings. 

Since joining Citadel, he has played an important role in advancing the group’s growth strategy and has been instrumental in strengthening its operating model.

The company said Maharaj’s focus has been on enhancing client service, developing products, improving platform and process efficiency and leveraging technology while maintaining rigorous regulatory compliance.

“Our vision remains to be a client’s most trusted partner in building and protecting wealth,” Maharaj said. 

“This was our vision when Citadel was founded in 1993. It is our vision today, and it will remain our vision as we enter the future as a proudly South African business.”

“It’s been an extraordinary journey since I joined Citadel in 2018. I am both humbled by the experience and energised by what lies ahead, confident that the business is on solid ground.”

Citadel has won numerous awards for its wealth management services over the years, the most recent being the Best Wealth Management Firm in South Africa 2026 by the Global Business and Finance Magazine.