Jan. 13, 2017
Jarislowsky Fraser appoints independent chairman and directors, ensures continuity and reflects firm’s commitment to good corporate governance
MONTREAL, January 13, 2017 - Jarislowsky, Fraser Limited is pleased to announce appointments to the Board of Directors of the firm. The Jarislowsky family and the partners of the firm have changed the composition of the Board to include an independent chair and two additional independent members. The changes ensure continuity and reflect the firm’s longstanding commitment to good corporate governance.
John Ferguson, who has been an independent director on the Board since January 2016, becomes Chairman of the Board. Stephen Jarislowsky, Chairman Emeritus, will remain active as a director on the Board. Claude Garcia and Tom Woods also join the Board as independent directors, bringing deep experience and broad knowledge of the financial industry, as well as proven leadership.
“We’re extremely pleased that John has accepted our invitation to sit as Chairman, and we welcome Claude and Tom to our Board. We are confident that our mix of deeply experienced inside and independent directors provides continuity in the strength of the firm’s leadership and good governance, for years to come,” said Stephen Jarislowsky.
“The partners and employees of the firm would like to express our deep appreciation to Stephen Jarislowsky for his lasting contribution as Chairman of the Board. The firm’s investment philosophy and strategy reflect his strong adherence to the principles of fundamental, high-quality investing – principles to which we have remained faithful since the firm was founded in 1955,” added Pierre Lapointe, President of Jarislowsky Fraser.
“Jarislowsky Fraser has established a solid reputation for its integrity and investment stewardship. I am enthusiastic about this opportunity to work with the board and management as the firm continues to build its reputation as a trusted independent investment manager,” stated John Ferguson.
Mr. Ferguson is a well-regarded Canadian business leader and brings extensive governance experience on boards. He was formerly Chairman of the Board of Suncor, Vice-Chair of the Alberta Investment Management Corporation and a director of the Royal Bank of Canada and TransAlta Corporation. In 2011, he was appointed a Member of the Order of Canada.
Mr. Garcia is a prominent figure in Canadian business and has had a long career in both the private and public sectors. During his 22-year tenure at The Standard Life Assurance Company, he was Executive Vice-President, Chief Operating Officer and eventually President of Canadian operations from 1993 to 2004. He has also served as chairman and director on numerous boards, including the Caisse de dépôt et placement du Québec.
Mr. Woods has extensive insight and understanding of the financial industry, acquired through his 37-year career at CIBC, where he held various senior executive positions, including Vice-Chairman, Chief Risk Officer and Chief Financial Officer. He also serves on the boards of the Bank of America Corporation and the Alberta Investment Management Corporation.
The above appointments are effective as of January 1, 2017, and are subject to regulatory approval.
About Jarislowsky, Fraser Limited
Jarislowsky, Fraser Limited is one of Canada’s leading independent investment management firms. Founded in 1955 as a research boutique, Jarislowsky Fraser today manages the portfolios of pension funds, foundations and endowments, corporations and individuals in Canada, the United States and internationally — representing more than $37 billion in assets under management. Its investment philosophy and low-risk approach are built on a foundation of time-tested conservative principles and more than 60 years of fundamental research. Jarislowsky Fraser’s history and culture are rooted in investment stewardship, which is expressed through an adherence to high-quality investing, a long-term investment horizon and the advancement of good governance and sustainable investing.
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