Stephen A. Jarislowsky
Stephen A. Jarislowsky | |
|---|---|
| Born | September 9, 1925 Berlin, Germany |
| Occupation(s) | Entrepreneur, investor, philanthropist |
| Known for | Founder and chairman of Jarislowsky Fraser Limited |
| Notable work | The Investment Zoo (co-authored with Craig Toomey) |
Stephen A. Jarislowsky, born on 9 September 1925, is a prominent Canadian entrepreneur, investor, and philanthropist. He is the founder and current chairman of Jarislowsky Fraser Limited, a leading Canadian investment management company responsible for managing assets exceeding Can$40 billion.
As of December 2017, his net worth was approximated at $1.42 billion, positioning him as the 34th wealthiest individual in Canada.
Biography
Originally from Berlin, Germany, Jarislowsky was born to Jewish parents Kaethe (née Gassmann) and Alfred Jarislowsky. He later made a substantial impact on the Canadian investment management sector.
In 2007, Jarislowsky Fraser Limited held an 18% share in Canfor and became involved in a proxy contest with Vancouver businessman Jim Pattison, who owned 25%. Pattison ultimately succeeded, removing CEO Jim Shepherd amid concerns regarding Canfor’s underperformance and falling stock value.
Between 2002 and 2004, Jarislowsky predicted a major global economic downturn that came to pass in 2008. During a 2008 discussion on CBC's The Current, he warned that the recession might extend for two to five years or beyond without effective government intervention. He supported the use of inflation as a mechanism to reduce widespread debt and called for significant governmental expenditures to foster economic recovery.
Personal life
Jarislowsky is married and has four children. He has been honored as a Companion of the Order of Canada and elevated to Grand Officer (from Knight) of the National Order of Quebec.
Business ethics
In addition to his commercial activities, he is an advocate for ethical business practices and openly criticizes violations of corporate ethics. In 2002, together with Claude Lamoureux, he co-established the Canadian Coalition for Good Governance to encourage robust corporate governance standards.
Quebec separatism
Jarislowsky is an opponent of Quebec nationalism. In a speech delivered in 1997, he likened Jacques Parizeau and Lucien Bouchard to fascist figures and suggested dividing Quebec by turning Montreal into an independent city-state. He urged citizens to resist the PQ, characterizing its supporters as motivated by a "quasi religious fervor" similar to that which underpins fascism.
Boards and charities
His board memberships have included organizations such as the C.D. Howe Institute, SNC-Lavalin, Canfor, Southam, Swiss Bank, and Abitibi. Alongside his wife Gail, he has contributed generously to funding numerous university professorships across Canada, supporting both educational and cultural endeavors.
Publications
- The Investment Zoo (co-authored with Craig Toomey), .