Canadian investment manager, ethical business advocate, and philanthropist Stephen Jarislowsky passed away at the age of 101. Born in Germany in 1925, he established Jarislowsky Fraser & Co. in 1955, transforming it into Canada’s leading pension fund manager. Starting with a modest investment of $100 of his own funds and $50 from a partner, he grew the Montreal-based firm over the years.
Jarislowsky led the company for over 60 years before retiring in 2012, with assets under management reaching approximately $40 billion. In 2018, Scotiabank acquired the firm for $950 million. His business acumen amassed a fortune of around $3.9 billion US, which he generously contributed to various causes, including endowing research chairs at Canadian universities.
Recognized for his contributions, Jarislowsky received honorary degrees from 20 universities and was appointed a Companion of the Order of Canada. He was praised for his philanthropy, support for higher education, and advocacy for corporate governance standards and shareholder rights.
In his later years, Jarislowsky established endowed chairs aimed at educating future government leaders, emphasizing the importance of understanding historical events to prevent their recurrence. Through the Jarislowsky Foundation, he funded numerous research chairs in areas such as democracy, governance, health, and environmental studies.
Apart from his philanthropic endeavors, Jarislowsky actively participated in civic, charitable, and corporate organizations, promoting better leadership practices and accountability in business. He was a co-founder of the Canadian Coalition for Good Governance and played a key role in establishing the Institute for Governance of Private and Public Organizations of Quebec.
Stephen Jarislowsky is survived by his wife Gail and three children, leaving behind a legacy of ethical business practices, philanthropy, and dedication to education and good governance.