Board Members

Christopher Gilmour

B Sci (Hons), Post Grad Dip Financial Studies, Chemistry

Board Member & Chair

Chris Gilmour is an investment analyst/market commentator, most recently with Barclays Africa/Absa Stockbrokers & Portfolio Management, and a Business Day columnist.
He holds a B.Sc (Hons) degree in Chemistry and a postgraduate Diploma in Financial Studies from Heriot-Watt University in Edinburgh, Scotland. He has spent the last 35 years in financial markets in South Africa, 16 of those being an investment research analyst with various stockbroking firms, including Merrill Lynch. He also managed institutional investment funds in Cape Town, notably at Commercial Union Investment Management, where he was Head of Equities. As a journalist he was an Associate Editor at the Financial Mail.

Lungile Malinga

(BCom, BCom Hons, CFA Level II Candidate)

Board Member & Deputy Chair

Lungile is an Investment Analyst at Medu Capital pursuing her CFA charter holder with the CFA Institute. Her experience is in both company specific and economic research. She is also involved in investment related media appearances.

Garreth E. Elston


Board Member

Garreth is a portfolio manager with Reitway Global, an asset management company providing specialist international real asset investments. He has significant portfolio management experience having managed listed and unlisted investments in proprietary, unit trust and private equity portfolios in South Africa, Europe, Asia and North America.

Ann Marie Wood

Executive Officer

Ann Marie has vast experience with CFA Institute, CFA Society South Africa and Investment Analysts Society of South Africa

Arthur Thompson


Board Member

Arthur is a Director at Integre Investment Management based in Johannesburg

Dana Yerushalmy

Board Member

Senior Financial Planner
ABSA Private Bank

Jacques Theron

B Com (Econ), B Com Hons (Investments)

Board Member

Jacques is a portfolio manager at Old Mutual Wealth Private Client Securities with 18 years market experience and specialises in investment management and structuring portfolios.

Mark Ingham

Board Member

Mark is a director for Ingham Analytics Ltd and provides analytical services to a select few South African and international clients in stock broking, fund management and private equity and to listed and private corporations.  His past employers include accounting practice Deloitte Haskins & Sells and stockbrokers Frankel Pollak.

Mike Brown

BA (Econ)  BA (Hons)

Board Member

Mike is the Managing Director of, a website based financial intermediary service focused on Exchange Traded Funds (ETF’s)

Peter Du Toit

Board Member

Peter du Toit is active in investment analysis, fund managing and corporate finance.  He retired from the RMB Group in 2001 to focus on various corporate interests including the establishment of REZCO Value Trend.  He joined the Investment Analysts Society in 1970 and has been on their board since 1980.  He held the position of Chairman in the mid 1980s and early 1990s.

Phumzo Khonzeka

Phumzo Khonzeka: BCom, CTA, CA(SA)

Board Member & CFO

Phumzo Khonzeka is a Chartered Accountant registered with the South African Institute of Chartered Accountant. He completed his articles with Ernst & Young, with a primary focus on the manufacturing, retail, media and public sector. He is currently employed as a Group Internal Auditor at First Rand Limited focusing on Investment Banking Division and Global Markets. He previously held the role of Financial Accountant at Rand Merchant Bank (RMB) Global Markets Division Consolidation Team, and that of a lecturer at Midrand Graduate Institute. Phumzo is also currently pursuing his CFA charter, with the CFA Institute.