MONTREAL — Canadian investment manager, ethical business proponent and philanthropist Stephen Jarislowsky has died. He was 101. Jarislowsky, who was born in Germany in 1925, founded Jarislowsky Fraser & Co. from scratch in 1955 and built the Montreal firm into what was at one point Canada’s largest pension fund manager. After working in Kingston, Ont., Montreal and New York, he returned to Montreal to found his eponymous firm with $100 of his money and $50 from a partner. He led Jarislowsky Fraser for more than six decades before stepping down in 2012, by which time the firm was managing around $40 billion in assets. Scotiabank bought the firm in 2018 for $950 million. His business success made him worth some US$3.9 billion, according to Forbes, a pool of wealth he used to donate many millions of dollars including to establish dozens of research chairs at Canadian universities. This report by The Canadian Press was first published Oct. 8, 2026.
