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, Jarislowsky established Jarislowsky Fraser & Co. in 1955 and transformed the Montreal-based firm into one of Canada’s leading pension fund managers.
Starting with a modest investment of $100 of his own money and $50 from a partner, Jarislowsky’s entrepreneurial journey led him to grow the firm over six decades, managing approximately $40 billion in assets by the time of his retirement in 2012. In 2018, Scotiabank acquired the company for $950 million.
With a net worth of around $3.9 billion US, as reported by Forbes, Jarislowsky dedicated a significant portion of his wealth to philanthropic endeavors, including the establishment of numerous research chairs at Canadian universities. His contributions were recognized with honorary degrees from 20 universities.
Among his accolades was the prestigious Order of Canada, where he was commended for his philanthropy and commitment to higher education. Noteworthy was his advocacy for robust corporate governance practices and shareholder rights.
In his later years, Jarislowsky focused on educating future leaders by endowing chairs at Canadian universities, emphasizing the importance of learning from historical events to prevent their recurrence. The Jarislowsky Foundation, founded in 1991, supported various research initiatives, including in democracy, governance, the environment, health, and Canadian art.
Throughout his career, Jarislowsky actively participated in civic, charitable, and corporate boards, championing better leadership and accountability in business. He played a key role in founding the Canadian Coalition for Good Governance in 2002 and the Institute for Governance of Private and Public Organizations of Quebec.
Stephen Jarislowsky is survived by his wife Gail and three children.