Stephen Jarislowsky is stepping down as head of the Montreal-based investment firm he founded in 1955, the Globe and Mail reported.
Jarislowsky, 87, will remain chairman of Jarislowsky Fraser Ltd., the newspaper reported, citing a company statement. President Len Racioppo is also stepping down, the paper said.
The fund company has about C$37 billion ($37 billion) in assets, the paper said. Its holdings include some of the biggest companies in Canada, and is among the largest shareholders in Royal Bank of Canada (RY), Enbridge Inc. and Nexen Inc., according to data compiled by Bloomberg.
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