Under the agreement, Stratton Holding will become a wholly owned subsidiary of Susquehanna Bancshares and part of the family of Susquehanna Wealth Management companies. The acquisition will bring Susquehanna’s total assets under management and administration to approximately $9 billion.
Stratton Management will retain its name, as well as its team of about 30 investment managers and associates. Founder James Stratton will serve as chief investment officer of Stratton Management; James Beers, president of Stratton Management and a director of Stratton Holding, will serve as Stratton Management’s CEO; and John Affleck, chairman of Stratton Management and a director of Stratton Holding, will be named Stratton Management’s president.
William Reuter, chairman, president and CEO of Susquehanna, said: Stratton Management Company has built a loyal group of clients as a result of their strong record of investment performance and the dedicated advisory relationships they develop with their clients. The addition of Stratton brings Susquehanna increased diversification in our investment expertise, including experience in management of mutual funds.
