Dedicated volunteer and philanthropist, Ira Gluskin has contributed to the University of Toronto in many ways – and to the community at large, primarily to support health care, Jewish causes and the arts.
He is the co-founder of one of Canada’s leading wealth management firms, recognized internationally as a leading securities analyst and outspoken investment industry commentator.
Today, for outstanding community service and leadership in the global security and investment industry, Gluskin receives a doctor of law, honoris causafrom the University of Toronto.
Gluskin graduated from the University of Toronto in 1963, earning a Bachelor of Commerce degree nearly three decades after his father, Max, did the same. In an interview with University of Toronto Journal, Gluskin said he chose the trade because it was a familiar topic. “Whether [my father] had been an optometrist or a brain surgeon, I probably would have been too.
After graduating, Gluskin worked in the investment industry for 20 years, before becoming president of the securities firm Brown Baldwin Nisker. In 1984, he co-founded Gluskin Sheff and Associates, which has become one of Canada’s largest wealth management firms, employing over 100 people and managing billions of dollars in assets. HWe were president and chief investment officer of the company until 2009, then a member of its board of directors until 2013.
Around the time he left the presidency, Gluskin told the Globe and Mail that he had enjoyed managing money because he enjoyed the intellectual challenge. “You deal with all facets of society – business, personal, international affairs, what affects markets and businesses… and you are right or wrong sooner [rather] only later.
Regarding his investment philosophy, Gluskin said he chose companies based on what they said they were going to do and whether they met those expectations – avoiding companies that were still in business. below or without explaining why. He also preferred the candor of his own staff – “to tell me what’s going on and not get into double or triple talk”.
On a typical workday, Gluskin would rise at 6 a.m., spending two or more hours reading several newspapers, including the New York Times and the the wall street journalto stay informed, find out what was driving the market – and give yourself an edge.
(photo by Lisa Sakulensky)
Gluskin also often shared his own insights in the newspapers, writing about investment topics in the Globe and Mail and the deceased Financial Times of Canada. The platform helped raise his profile in the financial industry and earned him a franchise reputation. His former business partner, Gerald Sheff, described Gluskin to Business magazine report as an outspoken commentator. “He writes provocatively,” Sheff said.
Gluskin said he plans to tell graduate students that they have a significant competitive advantage in the workplace over previous generations because of their comfort with technology. New technologies, he explained, have become so pervasive that understanding them is crucial for everyone. career these days – not just those in the tech industry. “The world favors young people,” he said, adding that he hopes today’s graduating students will succeed in their endeavors and stressed the importance of philanthropy.
This spirit of generosity is reflected in Gluskin’s actions. For many years he was a dedicated volunteer at the U of T, volunteering his time and talent to the Faculty of Arts and Science and the Temerty School of Medicine, the Department of Economics and University College, as well as President of the University of Toronto Asset Management Corporation. In 2000, he received an Arbor Award in recognition of his many contributions to the university.
Gluskin and his wife Maxine Granovsky Gluskin also made vital contributions to several U of T initiatives, including the lead gift for a renovated and expanded economics department, which was named the Max Gluskin House in honor of Ira’s father. The couple also provided donations to establish the May Gluskin Chair in Canadian History, the Anne Tanenbaum Center for Jewish Studies, and the Granovsky-Gluskin Graduate Scholarship Fund, which supports graduate scholarships in studies. Jewish.
Gluskin is also active in the wider community, serving on the boards of Sinai Health, Morse magazine and the National Theater School of Canada. He is a former trustee of the Toronto Symphony Foundation and The Canadian Jewish News.
In 2012, Gluskin’s contributions to Canada were recognized with a Queen Elizabeth II Diamond Jubilee Medal.