The C.D. Howe Institute today announced it has received a gift of more than $1 million from financial industry executive Alfred Wirth.

Bill Robson, president and CEO of the think tank announced that Wirth has given it a $1.05 million pledge to establish an Endowment Fund for Special Studies. This is the largest gift ever made to the C.D. Howe Institute.

With the gift, Wirth becomes the founding patron of what the C.D. Howe Institute hopes will be a growing fund to bolster the institute’s research capacity in five key areas: fiscal and monetary policy, economic growth and innovation, trade policy, social policy and public institutions and governance questions.

“This is a remarkable gift by a remarkable person. Alf Wirth is well known in business and philanthropic circles and is a true leader in each area. He founded Wirth Associates Inc., investment counselors, in 1991. Before that, he served as chief investment officer of Sun Life, United Funds, and Crown Life. He is patron to many organizations, and generous with his time and support,” Robson said in a news release.

Wirth stated, “This donation represents my firm belief that independent policy research is absolutely vital to the well-being of all Canadians. I hereby want to enable the C. D. Howe Institute to broaden its solid, empirical approach to include research important to Canada’s future that would otherwise not be possible. Canada is already a wonderful place to live, work and invest, but we need sound public policy to make it the world’s best.”