Renowned Canadian investment manager, advocate for ethical business practices, and philanthropist Stephen Jarislowsky has passed away at the age of 101. Born in Germany in 1925, he established Jarislowsky Fraser & Co. in 1955, starting with just $100 of his own funds and $50 from a partner. Over the years, he transformed the Montreal-based firm into Canada’s largest pension fund manager, overseeing assets worth approximately $40 billion by the time he retired in 2012.
Jarislowsky’s entrepreneurial success led to the acquisition of his firm by Scotiabank in 2018 for $950 million. His business acumen also translated into personal wealth, estimated at $3.9 billion US by Forbes. He utilized his fortune to donate generously, including funding numerous research chairs at Canadian universities.
Throughout his career, Jarislowsky received recognition for his contributions, including being appointed as a Companion of the Order of Canada. He was commended for his philanthropic efforts in supporting higher education and promoting strong corporate governance practices.
In his later years, Jarislowsky focused on educating future leaders by establishing endowed chairs at Canadian universities. He emphasized the importance of learning from historical lessons to safeguard democracy, particularly in light of global political shifts. The Jarislowsky Foundation, founded in 1991, continued his legacy by funding research initiatives in various fields.
Aside from his philanthropic endeavors, Jarislowsky actively participated in civic, charitable, and corporate boards, advocating for improved leadership and accountability in business. He co-founded the Canadian Coalition for Good Governance in 2002 to empower shareholders and enhance confidence in capital markets.
Stephen Jarislowsky is survived by his wife Gail and three children, leaving behind a lasting impact on the business, philanthropic, and educational sectors.
