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 the successful firm Jarislowsky Fraser & Co. in Montreal in 1955, starting with just $100 of his own funds and $50 from a partner.

Over more than six decades, Jarislowsky led the firm, growing it into Canada’s largest pension fund manager with around $40 billion in assets by the time of his retirement in 2012. In 2018, Scotiabank acquired the firm for $950 million.

Jarislowsky’s business acumen amassed a fortune of approximately $3.9 billion US, which he generously used to donate to various causes, including the establishment of research chairs at Canadian universities. Recognized for his philanthropic efforts, Jarislowsky received honorary degrees from 20 universities.

Among his numerous accolades was being appointed Companion of the Order of Canada in recognition of his support for higher education, advocacy for strong corporate governance, and dedication to shareholder rights. In his later years, he focused on educating future leaders by endowing chairs at five Canadian universities, emphasizing the importance of learning from historical events to prevent their recurrence.

Additionally, the Jarislowsky Foundation, founded in 1991, funded research chairs in critical areas such as democracy, governance, and the environment. Jarislowsky was actively involved in various civic and charitable organizations, promoting better leadership and accountability in business.

He is survived by his wife Gail and three children, leaving behind a legacy of philanthropy, ethical leadership, and dedication to education and good governance.