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, transforming the Montreal-based firm he co-founded with minimal initial investment into Canada’s leading pension fund manager.
Throughout his more than six-decade tenure at Jarislowsky Fraser, which concluded in 2012, the firm’s assets under management grew to approximately $40 billion. In 2018, Scotiabank acquired the company for $950 million. With a net worth of $3.9 billion US, as reported by Forbes, Jarislowsky generously contributed millions of dollars to various causes, notably endowing research chairs at multiple Canadian universities.
Among his numerous accolades, Jarislowsky was honored with the Order of Canada for his unwavering support of higher education and advocacy for strong corporate governance practices. Emphasizing the importance of historical awareness to prevent the recurrence of political threats, he recently funded five endowed chairs aimed at educating future government leaders in response to global shifts towards totalitarianism.
Established in 1991, the Jarislowsky Foundation has funded nearly 48 research chairs spanning democracy, governance, the environment, health, and Canadian art, demonstrating a commitment to advancing knowledge and innovation. Jarislowsky’s impact extended beyond financial contributions, as he actively participated in civic, charitable, and corporate initiatives, promoting better leadership and accountability in the business sector.
Survived by his wife Gail and three children, Stephen Jarislowsky leaves behind a lasting legacy marked by his dedication to philanthropy, ethical business practices, and educational advancement.