Investment Pioneer Stephen Jarislowsky Dies at 101
Stephen Jarislowsky, the founder of Jarislowsky Fraser and a prominent Canadian philanthropist, has died at the age of 101.
Investment manager and philanthropist Stephen Jarislowsky has died at the age of 101. Known as Canada’s Warren Buffett, Jarislowsky founded Jarislowsky Fraser & Co. in 1955, building it into one of the largest pension fund managers in Canada with approximately $40 billion in assets. He stepped down from the firm in 2012, and Scotiabank later acquired the company in 2018 for $950 million.
Beyond finance, Jarislowsky used his estimated US$3.9 billion net worth to fund academic and civic causes. He established the Jarislowsky Foundation in 1991, which funded nearly 48 research chairs at Canadian universities, and co-founded the Canadian Coalition for Good Governance in 2002 to hold corporate executives accountable. His commitment to democracy and historical education was driven by his childhood experiences in Nazi-occupied Europe, which also informed his opposition to Quebec independence.
Scotiabank President and CEO Scott Thomson praised Jarislowsky as a corporate governance pioneer and entrepreneur who left a lasting impression on the financial sectors of Quebec and Canada. Thomson noted that the bank felt privileged to have benefited from Jarislowsky's vision during the integration of the firm into Scotiabank operations.
