Investment firm Jarislowsky, Fraser grapples with founder’s impending retirement

MONTREAL – Stephen Jarislowsky, one of Canada’s best-known and most outspoken investment managers, is preparing to step aside as head of his firm at age 87.

Jarislowsky, Fraser manages about $37 billion, so changes at the firm could unsettle some investors.

The firm says Jarislowsky will remain chairman of the board for a time and management will be headed by a committee of senior executives.

The executive committee will be headed by Montreal-based Pierre Lapointe, who has been with the company 27 years.

Margot Ritchie at the firm’s office in Toronto will also be a member of the executive committee.

Two senior members of the firm, Len Racioppo and Marc Trottier, have announced they’ll resign effective at the end of November but remained involved.