Press release from CNW Group
Jovian Announces the Passing of George Frazer, Canada's Longest Serving Investment Manager
Friday, February 08, 2013
Jovian Announces the Passing of George Frazer, Canada's Longest Serving Investment Manager10:30 EST Friday, February 08, 2013TORONTO, Feb. 8, 2013 /CNW/ - Jovian Capital Corporation ("Jovian") (JOV: TSX) regrets to announce the passing of Canadian financial services legend George Frazer on February 6 at the age of 86. George was Chairman of the Board of Jovian subsidiary Leon Frazer & Associates Inc. ("Leon Frazer"), and Canada's longest serving investment manager.Shortly after WWII, Mr. Frazer joined the firm his father Leon built. George spent the next nearly seven decades shepherding his clients' assets based on Leon Frazer's fundamental investment principles: investment in good companies that sustain and increase their dividends over time.Mr. Frazer assumed the role of Chairman of Leon Frazer in 1961 after his father passed away. George grew his team from just five investment counselors in 1947, to a team of 35 employees and approximately $2.1 billion in client assets under management today. He and Deputy Chair William Tynkaluk contributed a combined total of 122 years of market experience and institutional memory to the organization.In 1952, Mr. Frazer co-founded the Investment Counsel Association of Canada (now Portfolio Management Association of Canada), an organization whose current membership is responsible for managing over $750 billion in client assets. For his long service to the financial services industry and his achievements while managing the IA Clarington Canadian Conservative Equity Fund, Mr. Frazer was bestowed the 2006 Career Achievement Award at the Canadian Investment Awards."George Frazer is remembered for his great legacy of total commitment to client satisfaction," noted Mark Arthur, C.E.O. of Leon Frazer. "He never wavered from his goal of always 'doing what's right for the client,' and he always urged his team to stay singularly focused on that principle," Mr. Arthur added.Mr. Frazer was an avid sailor for most of his life, and served as a Rotarian for over four decades, active until his passing. He leaves behind his wife, Elizabeth, daughters Anne and Jacqueline, and son, Bruce.George Frazer's place in history as a giant of the Canadian investment community is assured. He will be greatly missed by his family, friends, clients and associates. The entire Jovian group of companies wishes to convey their deepest condolences to Mr. Frazer's family.About Leon Frazer & AssociatesFounded in 1939, Leon Frazer is one of Canada's oldest investment counselors. Providing investment management services to high net worth individuals, institutions, trusts and foundations, Leon Frazer & Associates has earned a reputation over the past 70+ years as one of Canada's pre-eminent equity managers. For the last six years, the investment team has been led by Douglas Kee, Managing Director and Chief Investment Officer, a 30-year industry veteran who oversees the management of approximately $2.1 billion in client assets.About Jovian Capital CorporationJovian acquires, creates and grows financial services companies specializing in two primary market segments: wealth management and asset management. The Jovian group of companies (MGI Securities Inc., MGI Securities (USA) Inc., T.E. Wealth, Leon Frazer & Associates Inc., Hahn Investment Stewards & Company Inc., JovFinancial Solutions Inc. and Fit Private Investment Counsel Inc.) oversees approximately $6.7 billion of client assets ($5.2 billion in client assets managed or advised and $1.5 billion in assets under administration). Additional information is available at www.joviancapital.com and www.sedar.com.SOURCE: Jovian Capital CorporationFor further information: Don Sangster, Investor Relations, Jovian Capital Corporation, (416) 933-5744; or Philip Armstrong, C.E.O., Jovian Capital Corporation, (416) 933-5752.