Canadian investment manager, advocate for ethical business practices, and philanthropist Stephen Jarislowsky has passed away at the age of 101. Jarislowsky, born in Germany in 1925, established Jarislowsky Fraser & Co. in 1955 and transformed it into Canada’s leading pension fund manager.
Having worked in various locations such as Kingston, Ont., Montreal, and New York, Jarislowsky returned to Montreal to launch his company with an initial investment of $100 of his own funds and $50 from a partner. Over a span of over six decades, he led Jarislowsky Fraser until his retirement in 2012, during which the firm oversaw approximately $40 billion in assets.
In 2018, Scotiabank acquired the company for $950 million. Jarislowsky’s business achievements resulted in a net worth of approximately $3.9 billion US, as reported by Forbes. He generously distributed a significant portion of his wealth to establish numerous research chairs at Canadian universities and support various charitable causes.
