Skip to content
Subscriber Only

Sale to Scotiabank Marks End of Era for Billionaire Stephen Jarislowsky

  • Money manager sells to Bank of Nova Scotia for $755 Million
  • Montreal-based firm own stakes in Canada’s biggest companies
Updated on

Jarislowsky Fraser Ltd.’s proposed sale to Bank of Nova Scotia marks the end of an era for billionaire founder Stephen Jarislowsky, who built his firm from scratch six decades ago and now holds hefty stakes in some of Canada’s biggest companies.

Scotiabank on Monday agreed to pay about C$950 million ($755 million) for Jarislowsky Fraser, adding more than C$40 billion in assets under management on behalf of institutional investors and high net worth clients.