Momentum Securities is pleased to announce the appointment of Refilwe Moroka as Chief Investment Officer (CIO), effective 1 May 2026.
Moroka joins Momentum Securities’ leadership team with over 18 years of specialised experience in equity research, portfolio construction, and credit risk management. Her appointment represents a strategic move to bolster the firm’s investment capability and ensure sustained, long-term performance for clients.
According to Steven Schultz, CEO of Momentum Securities, Moroka’s experience aligns closely with the firm’s strategic priorities, particularly its focus on strengthening investment excellence, broadening its capability, and delivering consistent, high-quality outcomes for clients.
In her role as CIO, Moroka will oversee the end-to-end investment capability at Momentum Securities. Her mandate includes guiding portfolio management teams, enhancing research frameworks, and embedding robust investment governance.
“Refilwe will play a central role in shaping the firm’s investment philosophy, ensuring that processes remain evidence-based, client-centred, and highly competitive,” says Schultz.
“Known for a leadership style that is both grounded and deliberate, she is recognised for creating environments that encourage robust debate while maintaining clear performance standards. By partnering across the business to reinforce performance discipline, Refilwe will ensure that Momentum Securities’ solutions remain differentiated and relevant in an evolving risk landscape.”
Moroka joins Momentum Securities from Melville Douglas, where she served as Head of Domestic Equity Research and Co-Fund Manager for several flagship funds, including the Melville Douglas High Alpha and Balanced Funds. She joined Melville Douglas in 2017 as a domestic equity research analyst and soon built a formidable reputation covering the diversified industrials and telecommunications sectors.
Her career also includes tenures at Standard Bank, where she served as a Diversified Lending & Leveraged Credit Risk Manager within the FMCG and retail sectors, as well as roles at PwC and Liberty.
Moroka has a B.Com in Accounting, a B.Compt (Honours) in Cost Management Accounting, and is a CFA® Charterholder.
“We look forward to the leadership, clarity, and energy Refilwe will bring to Momentum Securities as we continue to build an investment capability we are all proud of,” says Schultz.
