TORONTO, 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
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,
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 & Associates
Founded 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 Corporation
Jovian 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 Corporation
For further information:
Don Sangster, Investor Relations, Jovian Capital Corporation, (416) 933-5744; or
Philip Armstrong, C.E.O., Jovian Capital Corporation, (416) 933-5752.