Legendary bond trader and Bay Street executive Jack Lawrence died Monday when his float plane crashed on the flight home from cottage country.
Mr. Lawrence, aged 75, and companion Carol Richardson were killed when their Cessna 206 float plane crashed into the woods shortly after taking off from Lake Muskoka in Ontario's near north on Monday afternoon.
For the past 13 years, Mr. Lawrence was chairman and CEO of Lawrence & Co., an asset management company. But he is best known as a bond trader and executive who helped build Burns Fry into powerhouse independent investment dealer prior to its sale to the firm to Bank of Montreal in 1994.
Mr. Lawrence joined the bond desk of employee-owned Jack Fry Mills after graduating from the University of Western Ontario's undergraduate business program in 1956. Five years later, he was president of the firm, and it merged with Burns Bros Denton in 1976 to form Burns Fry.
In addition to his leadership role at Burns Fry, Mr. Lawrence worked closely with government and corporate clients on financing issues, and played a backroom role in shaping government fiscal and monetary policy. His wide circle of friends includes former Bank of Canada governor John Crow and U.S. Federal Reserve chairman Paul Volcker.
Mr. Lawrence leaves six children, ex-wife Janice Lawrence and numerous grandchildren. He was a tough, driven executive and fitness buff - a few years back, Mr. Lawrence hired Tiger Wood's personal trainer to improve his golf game. In a press release, his family said he spent his last weekend playing tennis and canoeing with family and friends at the cottage.
Andrew Willis