The Team

Rowan Goeller (Director)

Rowan has over 25 years’ experience in the South African industrial market, having worked as an equity analyst at Deutsche Bank and Macquarie, investor relations at Mittal South Africa and Barloworld and in the investments and concessions business at Group Five. Rowan was recently Head of Equity Research at Mazi Macquarie Securities.

Rowan has a deep knowledge of the diversified industrial, construction, basic materials and packaging sectors of South Africa, having been rated the top analyst in the Financial Mail Analyst awards for the Construction, Diversified Industrial and Small and Mid-Cap Financial and Industrial sectors. He hold a B.Sc in Chemical Engineering and is a CFA charter holder.

rowan@chronuxresearch.com

Sean Ungerer (Director)

Before joining Chronux Research in 2020, Sean served as the Head of Research at Arqaam Capital in South Africa, where he successfully led and managed a team of analysts. His strategic vision and managerial acumen contributed to the team’s success in delivering top research rankings. Prior to Arqaam Capital, Sean was a resource analyst with Avior Capital Markets.

He has held top ratings across various sectors, including Forestry and Paper, Oil & Gas and Chemicals, Healthcare, and Industrial Metals. Sean holds a CA (SA) and CFA.

sean@chronuxresearch.com

Adrian Jardine

Adrian has 10 years’ experience in finance and investment, having started his career in corporate finance at Merrill Lynch before covering the JSE listed property sector as an equity research analyst at Avior Capital Markets, RMB Morgan Stanley and Renaissance Capital. He was top rated in the Real Estate sector in the Financial Mail survey in 2015 and 2016, and holds a B.Com (Hons) and M.Com in Finance from Wits University. He is based in Johannesburg.

His focus at Chronux is on research coverage of the JSE Real Estate sector, with current coverage of fourteen counters.

adrian@chronuxresearch.com

Karabo Langa

Karabo joined Chronux Research in February 2023 as an Associate Analyst to Rowan Goeller as part of the Coronation Catapult Programme.

Karabo holds a bachelor’s degree in Investment Management from the University of Pretoria, an advanced diploma in Financial Markets from the University of Johannesburg and has passed his CFA level 1 exam. He brings an innovative perspective to equity research. He is currently studying BCom Honours in Investment Management at University of Johannesburg.

Koena Enoch

Koena is a dynamic professional who joined Chronux Research in February 2024 as an Associate Analyst through the prestigious Coronation Catapult Programme. In this role, Koena works closely with Sean Ungerer, contributing to the company’s commitment to excellence in research and analysis. Koena holds a Bcom (Hons) and Mcom (Corporate Finance and Investments) from Wits University. During his time at Wits, his keen interest in behavioral finance led him to explore the intricate relationship between investor sentiment and unit trust alpha on the JSE in his thesis.

With a solid academic foundation, Koena brings valuable buyside experience to the table. His research and analytical skills have been developed through coverage of global stocks across diverse sectors, including consumer discretionary and industrials. As a participant in the Coronation Catapult Programme, Koena demonstrates a commitment to continuous learning and professional development. This program serves as a testament to his potential and dedication to making a meaningful impact in the field of finance.