Philanthropist and industry leader Ian Soutar dies

Philanthropist and investment manager Ian Soutar, co-founder of Pembroke Private Wealth Management, died March 21.

He had an incurable form of cancer called multiple myeloma for eight years. He was 79.

Soutar co-founded Pembroke in 1968 and was president and CEO from 1988 to 2000. He worked as chairman emeritus and partner until two weeks before his death.

“He is remembered as a true friend, leader and passionate growth stock investor,” write the staff of Pembroke in a memorial letter. “Ian was the consummate engaged individual who never tired or contemplated retirement.”

Soutar won a Career Achievement Award from Morningstar in 2013. Advisor interviewed him in the weeks after his win about his investment style. The firm still advised the first two institutional clients it landed in 1968.

Read: Institutional investor thrives on small caps

“We want to make our money the same way that our clients make their money, and that is to get good investment returns over the long-term,” he told Advisor. “We are human and when we do make mistakes, people know that it’s hurting us as well.”

Soutar, who was born in Asbestos, Que., graduated from McGill University in 1958 with a Bachelor of Engineering degree. He was an Athlone Scholar at the London School of Economics and got his CFA designation in 1967.

Before opening his own firm, he worked at Sun Life, Power Corp. and Standard Life. He was also an active donor and community leader.

Read Advisor’s full interview with Soutar here.

His obituary can be found here.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.