By The Canadian Press - Tuesday, November 6, 2012 - 0 Comments
MONTREAL – Stephen Jarislowsky, one of Canada’s best-known and most outspoken investment managers, is…
MONTREAL – Stephen Jarislowsky, one of Canada’s best-known and most outspoken investment managers, is preparing for retirement by stepping aside as chief executive of the firm he founded 57 years ago.
Jarislowsky Fraser Ltd. manages about $37 billion, so changes at the firm could unsettle some investors.
The firm said Jarislowsky, 87, will remain chairman of the board for a time and management will be headed by a committee of senior executives.
“Our decision to focus on lean, effective and empowered committees reflects our confidence in our people and their deep market and management experience,” Jarislowsky said in a statement.
“Jarislowsky Fraser and its entire team of portfolio managers and research analysts remain committed to the disciplined, low-risk, bottom-up approach that the firm has taken throughout our 57-year history.”
The firm will announce additions to its investment team in the coming months, he added.