WAYNE, PA — Conestoga Capital Advisors, LLC has announced detailed succession plans for its flagship Small Cap Growth strategy. Derek Johnston, Partner/Portfolio Manager, is set to succeed Joe Monahan as Co-Portfolio Manager by the end of 2025. Monahan, who has been a vital part of Conestoga’s success, will continue as Co-Portfolio Manager for the Micro Cap Growth strategy and an analyst supporting the firm’s strategies until his anticipated retirement in late 2026.
Bob Mitchell, Co-Founder and Managing Partner/Portfolio Manager, emphasized the smooth nature of this transition, stating, “The transition in portfolio management responsibilities from Joe Monahan to Derek Johnston will be a seamless one for Conestoga and our clients. I have co-managed Conestoga’s SMid Cap Growth strategy with Derek since 2016 and I look forward to managing the Small Cap Growth strategy with Derek in the years ahead.” On Monahan’s retirement, Mitchell added, “We are all grateful for the significant contributions Joe has made to the success of Conestoga.”
Johnston, who joined Conestoga in 2015, has been instrumental in growing the firm’s SMid Cap Growth total assets from less than $100 million to nearly $2 billion since becoming Co-Portfolio Manager for the strategy in 2016. Alongside his new promotion to Small Cap Growth Co-Portfolio Manager, he will be elevated to a Managing Partner of the firm. Reflecting on his tenure and new responsibilities, Johnston remarked, “It’s been a rewarding experience working at Conestoga for nearly ten years. We have a great culture, and we are all firmly committed to our investment discipline and serving our clients. I am excited to expand my responsibilities within the firm and to continue the high-quality conservative approach of our Small Cap Growth strategy.”
Joe Monahan, who joined Conestoga in 2008, has been a key force behind the Small Cap Growth strategy and the firm’s expansion, driving assets under management from less than $1 billion to over $8 billion during his tenure.
Complementing this transition, David Neiderer, currently serving as a Partner/Portfolio Manager, will succeed Monahan as Director of Research and also be elevated to a Managing Partner. Neiderer has been part of Conestoga since 2013 and will maintain his role as Co-Portfolio Manager for the Micro Cap Growth strategy. Bob Mitchell lauded Neiderer’s impact, saying, “David has been an instrumental contributor to our research team and the performance of our investment strategies since joining the firm in 2013. We are confident that his leadership and oversight of the firm’s research process will enhance our capabilities.”
With these succession plans in place, Conestoga aims to ensure continuity, stability, and a strong alignment with its valued clients and investment discipline.
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