Early Life
Stephen Jarislowsky was born in Berlin, Germany, on September 9, 1925. His family fled Nazi Germany in 1939 and sought refuge in Canada. He attended school in the Netherlands and France before immigrating to the United States in 1941. He studied mechanical engineering at Cornell University and served in the U.S. Army. After the war, he finished his education at the University of Chicago, earning an MA and an MBA from Harvard Business School in 1949.
Rise to Success
After working for Alcan Aluminum for three years, Jarislowsky founded Jarislowsky Fraser Limited in Montreal in 1955. Under his leadership, the firm grew into one of the largest and most successful investment management companies in Canada. He served as CEO until 2012 and remained Chairman Emeritus. In 2018, Scotiabank acquired Jarislowsky Fraser for $950 million.
Key Business Strategies
Jarislowsky's approach to investing was conservative, emphasizing research and a long-term perspective focused on quality companies with consistent earnings and dividends. He was a strong advocate for corporate governance, working to improve business practices and ethics. He has been described as the “Warren Buffett of Canada”.
Philanthropy
Jarislowsky is a dedicated philanthropist, supporting education, medicine, science, arts, and the environment. Through the Jarislowsky Foundation, established in 1991, he donates $15 million yearly to various causes. He has endowed numerous university chairs across Canada.