Renowned Canadian investment manager, advocate for ethical business practices, 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 one of Canada’s leading pension fund management firms. Starting with a modest sum of $100 of his own money and $50 from a partner, he grew the Montreal-based firm over the years.

Jarislowsky led the firm for over six decades until his retirement in 2012, during which time it managed approximately $40 billion in assets. In 2018, Scotiabank acquired the firm for $950 million. His business acumen resulted in a net worth of around $3.9 billion US, which he generously used for philanthropic endeavors, including endowing numerous research chairs at Canadian universities.

Recognized for his contributions, Jarislowsky received honorary degrees from 20 universities and was awarded the Order of Canada. The Order acknowledged his commitment to higher education and advocacy for strong corporate governance practices and shareholder rights.

In his later years, he established endowed chairs to educate future government leaders, emphasizing the importance of understanding history to prevent its repetition. Through the Jarislowsky Foundation, he funded research chairs in various fields, demonstrating his dedication to advancing democracy, governance, the environment, health, and Canadian art.

Jarislowsky’s impact extended beyond his philanthropy, as he actively participated in civic, charitable, and corporate boards, advocating for improved leadership and accountability in business. His efforts led to the establishment of organizations such as the Canadian Coalition for Good Governance and the Institute for Governance of Private and Public Organizations of Quebec.

He is survived by his wife Gail and three children, leaving behind a legacy of business excellence, philanthropy, and advocacy for ethical practices.