Art Phillips, co-founder of Phillips, Hager & North Investment Management and former mayor of Vancouver passed away on March 29, at the age of 82.
Phillips founded Vancouver-based PH&N in 1964, along with Bob Hager and Rudy North.
PH&N became Canada’s largest independent investment management firm by the time of its purchase by the Royal Bank of Canada in 2008.
“The principles on which the firm was founded in 1964, ethical leadership, low fees and exceptional execution of portfolio management and client service, remain the foundation of the firm today – a fitting tribute to Art Phillips and the other founding fathers,” PH&N said in release.
Phillips served as Vancouver’s mayor in the 1970s and was responsible for municipal decisions that paved the way for downtown densification, including the fight against a waterfront freeway.
Phillips was elected to the House of Commons, winning a Vancouver seat for the Liberals in 1979 but losing it in 1980.
He is survived by his wife Carole Taylor, who served as British Columbia’s finance minister in the Liberal government of Gordon Campbell.
— With files from Canadian Press