Investment Banker, Philanthropist

1935 –

Lundar, Manitoba

Donald K. Johnson is a renowned Canadian business executive, investor, and philanthropist, widely recognized and honoured for his significant contributions to the financial sector and charitable causes across Canada and in Iceland. With a career spanning several decades, Johnson has played an influential role in both the corporate world and in supporting important social initiatives. In his latest book, Thriving at 90, Donald shares some of the secrets for success and wellness, including a daily meditation practice and cultivating a generous heart.

Early Life and Education

Donald K. Johnson is an FBI (Full-blooded Icelander). His great-grandparents, grandparents and parents were all from Iceland. The family on both sides were amongst the early groups of Icelanders to settle in the Nýja Ísland. His grandparents, Björn Jónsson and Guðrún Pálsdóttir had emigrated from the village of Breiðavik in Eastern Iceland in 1888 when Donald’s father, Páll Björnsson, was four years old. In Canada, his father’s name was changed to Paul Johnson, as it was the practice of Icelandic immigrants to angelize their names. Donald’s mother, Fjóla was born in Canada. Her parents were Magnús and Margrét Kristjánsson. Margrét’s family emigrated in the late 1880’s from Hólmlátur in the west of Iceland. Donald’s maternal grandfather, Magnús Kristjánsson, was born in Selárdalur and emigrated to Canada with his family in 1887. Don’s parents, Paul and Fjóla met in Canada, married and moved to Lundar where Paul ran a livery stable and a trucking service. Donald, in his first book, Lessons Learned on Bay Street, shares a little about growing up in Lundar where his family lived in a two-bedroom bungalow with no electricity and an outhouse where “getting there was no fun for seven months of the year.” He remembers these as happy years.

We all know how much Icelanders value literature and education, and Donald’s family was no exception. Donald’s lifelong passion for learning was fostered right from primary school. Later in life, he remembered his first-grade teacher, Pauline Johnson, with great affection and funded the building of the public library in her honour: the ‘Pauline Johnson Library’, free to all. Donald excelled in secondary school receiving the Dr. Paulson Scholarship and the Roger Goulet Provincial Scholarship for his academic standing. He credits his opportunity to go to university to his mother, as she moved the family to Winnipeg so Donald could attend the University of Manitoba. When he opened the Donald K. Johnson Student Centre at the University of Manitoba in 2008, Donald said, “It is thanks to my mother that I began my studies here. She always ranked education at the top of our family’s priorities.” In his mother’s honour, Donald K. established the annual ‘Fjola Johnson Scholarship’ in Lundar. Donald graduated with a Bachelor of Science in Electrical Engineering in 1957. For achieving the highest academic standing in his 3rd year, Donald had been awarded an MTS Scholarship

Donald’s first job after graduation was as a design engineer with the Canadian General Electric Corporation. After two years, he took a position in the high Arctic working on the Distant Early Warning (DEW) Line as a station manager and technician. He paid off his student loans and saved money to move into a new career path in business. Donald returned to university to do an MBA (Masters in Business Administration) at the University of Western Ontario Graduate Business School. He was the Gold Medallist in the graduating class of 1963.

Professional Finance Career

Donald K. began his finance career in 1963 when he joined Burns Bros. & Denton Ltd., a foundational step that would set the stage for an impressive ascent through the ranks of the investment world. Throughout his early years, he held various management roles across multiple domains, including Institutional Equity, Sales, Trading, Research, International, Retail, and Investment Management. This broad exposure gave Johnson a comprehensive understanding of the industry and equipped him with the skills necessary for future leadership positions.

Donald's leadership journey reached new heights when he was appointed President of Burns Fry in 1984. During a period of corporate transition when Security Pacific Alliance Limited acquired Burns Fry, Donald was made CEO of SPA’s international network of investment banks. In this role, he further broadened his experience and influence in global finance. He returned to Burns Fry as Vice Chairman, underscoring his enduring leadership within the organization. He became Vice Chairman of Nesbitt Burns, following the transformation of Burns Fry into BMO Nesbitt Burns under the umbrella of BMO Financial Group. He continued in this influential role until his retirement in 2004. His tenure was marked by strategic vision and growth, cementing the firm's position among Canada's top investment dealers. Donald has subsequently served as a Member of the Advisory Board for BMO Capital Markets, the investment banking division of BMO Financial Group. Over the years, Donald K. has been instrumental in advising on major mergers, acquisitions, and corporate strategies, helping shape the landscape of Canadian finance.

Donald K.’s influence extended beyond his executive roles. He served as Chairman of the Investment Dealers Association of Canada from 1988 to 1989, providing industry-wide guidance during a crucial period of development. Between 1978 and 1980, he was a Governor of the Toronto Stock Exchange, further shaping the regulatory and operational framework of Canadian capital markets.

Beyond his executive roles, Donald played a significant part in corporate governance. He is Chairman Emeritus and Director of Goeasy Ltd. (TSX: GSY), a leading Canadian non-prime lender, having served as Chairman from 2000 to 2018. His stewardship contributed to the firm's growth and reputation in the financial sector. Additionally, Donald K. served as a Director of Murchison Minerals (TSX: MUR), reflecting his ongoing commitment to Canadian business and investment. He also held the presidency of Vyco Ltd., showcasing his versatility and leadership across different segments of the investment industry.

Today, Donald K. Johnson remains active in the industry, still driving to his Bay Street office to serve as a Member of the Advisory Board of BMO Capital Markets. His expertise and guidance continue to shape the strategic direction of one of Canada's leading investment banking divisions. Johnson also serves on the boards of two public companies, maintaining his legacy as a respected leader and advisor in Canadian finance.

Philanthropy and Community Impact

Beyond his business accomplishments, Donald K. Johnson is perhaps best known for his extraordinary philanthropic efforts. He has been a passionate advocate for charitable giving, particularly in the areas of health care, education, and the arts. He has served in numerous leadership roles across prestigious Canadian institutions. He is a member of the Advisory Board at the Richard Ivey School of Business at the University of Western Ontario and sits on the Board of Trustees of the Toronto General and Western Hospital Foundation, where he chairs the Vision Campaign. He served on the Board of the National Ballet of Canada, the Bishop Strachan School Foundation, the Art Gallery of Ontario, and the Canadian Foundation for AIDS Research. He was Chairman Emeritus and director of Business for the Arts, a trustee of the Toronto Foundation for Student Success, and a member of the 2007 Major Individual Gifts Campaign Cabinet for the United Way of Greater Toronto. His past appointments include Chairman of the Investment Dealers Association and a Governor of the Toronto Stock Exchange. Notably, in 1996, he led the National Ballet’s $13 million capital campaign ensuring the organization’s continued vitality and reach. It was while fund-raising for the National Ballet that Donald discovered that the Americans gave tax receipts for donated shares in public traded companies. He began a campaign to change the Canadian tax laws creating incentives for large-scale charitable donations.

Advocacy for Tax Changes to Benefit Charities

One of Donald’s most significant contributions to Canadian philanthropy was his leadership of a 12-year campaign to eliminate the capital gains tax on gifts of listed securities to registered charities. Donald Johnson's advocacy culminated in a landmark policy change by the federal government in 2006. These changes introduced innovative incentives that revitalized the charitable sector, resulting in a substantial influx of funds and empowering countless organizations to better serve communities across Canada. Since then, Canadian charities have received gifts of stock exceeding $1 billion annually. Donald K.’s leadership in this area is widely recognized as transformative, helping to shape the fabric of Canadian philanthropy.

Mr. Johnson's extraordinary service and contributions have been formally acknowledged at the highest levels. In June 2005, he was appointed a Member of the Order of Canada, one of the country's most prestigious civilian honours. In 2007, he was named the Globe and Mail’s Nation Builder. His continuing extraordinary energy and commitment to charitable causes earned him a promotion to Officer of the Order of Canada in 2009.

Although over 90, Donald hasn’t stopped. Currently, he is spearheading another campaign to further expand the capital gains tax exemption, aiming to include gifts of private company shares and real estate. His continued and undying persistence and business acumen have been instrumental in shaping a more favourable environment for charitable giving in Canada.

Transformative Philanthropy at Ivey Business School

Donald K. Johnson has played a pivotal role in the development and growth of the Ivey Business School at Western University, making several landmark donations that have significantly impacted the school’s facilities, programming, and student support. His generosity spans more than two decades, culminating in a historic $30 million contribution in 2023. This donation marks the largest individual gift in Western University’s history. Johnson’s contribution funded the creation of the Donald K. Johnson Centre, a new 36,000-square-foot facility located in First Canadian Place in downtown Toronto. With the establishment of the Donald K. Johnson Centre, Ivey Business School has solidified its footprint in downtown Toronto, enhancing its ability to deliver world-class executive education and foster stronger connections with the Canadian business community. The new centre is a testament to Johnson’s vision for accessible, high-impact business education.

Transforming Vision Care: The Donald K. Johnson Eye Institute

Mr. Johnson’s philanthropic legacy is perhaps most visible in the field of vision care. His donations have been pivotal in establishing the Toronto Western Hospital’s Donald K. Johnson Eye Institute, Canada’s largest clinical research institute for vision. In 2007, Johnson contributed $5 million to the Toronto Western Hospital Eye Institute. This was followed by a $10 million donation in 2015, which led to the creation of the Donald K. Johnson Eye Institute. In September 2021, Johnson pledged an extraordinary $50 million to further support the Institute’s mission. This gift not only recognizes the dedication of those advancing eye health but also provides the resources necessary to attract world-class talent, ensuring the Institute maintains its status as Canada’s leading eye care facility and one of the top five in North America.

Supporting the Icelandic Community in North America

Donald K. has made significant and lasting contributions to the Icelandic community in Canada, helping to preserve and promote Icelandic heritage, language, and culture through ongoing support, sponsorship, and advocacy. Donald has sponsored the annual Islendingadagurinn gala, a key event celebrating Icelandic culture and traditions. Additionally, Donald has consistently supported Icelandic National League of North America (INLNA) conventions, demonstrating a dedication to strengthening the network of Icelandic organizations and fostering collaboration among member groups.

During the 1999-2000 period, their involvement in the “Valuing the Icelandic Presence” (VIP) campaign proved invaluable. Through active fundraising efforts, he helped secure funding for the Chair of the Department of Icelandic Language and Literature at the University of Manitoba, ensuring the continued study and promotion of Icelandic language and literature in Canada. As a stalwart supporter of the Logberg-Heimskringla, the community’s longstanding newspaper, Donald K. has played a critical role in sustaining this vital publication. Their commitment includes subsidizing subscriptions for elderly readers, ensuring that senior members of the community remain connected and informed.Through these and many, many more financial contributions, support and sponsorship to local Icelandic groups in Toronto and Lundar, Gimli and beyond, Donald K. Johnson has greatly enhanced the vitality of the Western Icelandic community, helping to preserve its heritage for future generations.

Awards and Distinctions

Throughout his career, Donald K. Johnson has received numerous accolades that reflect his lifelong commitment to volunteering, philanthropy, and the arts. Some of his many awards are listed below:

Lifetime Achievement Award – Canadian Association of Gift Planners (CAGP), 2018
Donor’s Distinction Award – CAGP, 2022
Outstanding Volunteer Award – National Society of Fundraising Executives, 1997
Friends of the Association of Gift Planners – 1997
Richard Ivey School of Business Distinguished Service Award – 1998
Arbor Award for Outstanding Volunteer Service – University of Toronto, 1999
Edmund C. 'Bovey Award for Outstanding and Longtime Support of the Arts – 2007
Honorary Doctor of Laws Degree – University of Western Ontario (Queen’s), 2007
Honorary Doctor of Laws Degree – University of Manitoba, May 2008
Member of the Order of Canada (2004)
Officer of the Order of Canada (2009)

Order of the Falcon, Iceland’s Highest Honour

Donald K.’s contributions extend beyond Canada's borders. In 2019, he was honoured with the Order of the Falcon by Iceland, underscoring his extensive and broad support to Icelandic cultural institutions and communities. He helped in the foundation of the Stephan G. Stephansson Endowment Fund at the University of Iceland.

Inspiring Books

Donald K. Johnson has written two inspiring books: Lessons Learned on Bay Street: The Sale Begins When the Customer Says No; and most recently, Thriving at 90 and Beyond: A Reflective Guide to Living Well and Discovering What Is Really Important. His books are packed full of sage advice and inspirational encouragement.

Longevity, Donald believes, is as much about the mind as the body. For decades, he has practised daily meditation, a habit he credits with keeping him both mentally sharp and emotionally grounded. Meditation, he says, is a powerful tool for clarity, resilience, and stress management—an asset for anyone navigating the complexities of business and life. Johnson also emphasizes the importance of physical fitness, healthy eating, good sleep hygiene and regular checkups, advocating a holistic approach to well-being.

Philanthropy became a central pillar of Donald’s K.’s life. He discovered profound fulfillment in supporting causes close to his heart, using his expertise to multiply the impact of his giving. For Johnson, success is not just measured in dollars or deals but in the positive difference one can make in the lives of others. He encourages readers—regardless of their means—to give back, volunteer, and contribute to their communities.

Reflecting on his journey, Johnson urges readers to pursue work that ignites their passion. Loving what you do, he argues, is the surest route to both professional achievement and personal satisfaction. He advises young people to stay curious, seek mentors, and never stop learning. For those further along in their careers, he offers encouragement to find new ways to stay engaged and inspired.

At ninety and beyond, Donald K. Johnson continues to thrive—not by chance but by choice. He offers readers a blueprint for happiness that encompasses meaningful work, cherished relationships, daily wellness practices, and a commitment to giving back. His story is one of resilience, generosity, and lifelong curiosity—a testament to the fact that it is never too late to discover what’s really important.

A Final Word from Donald K. Johnson

“I’ve learned that true success is measured not just by what you achieve, but by the lives you touch and the joy you find along the way. Keep moving, keep giving, and above all, keep discovering what matters most to you.”

Legacy

Donald K. Johnson’s legacy is defined by his dual impact as a financial innovator and as a tireless champion for philanthropy. His leadership has helped strengthen the economic and social fabric of Canada. As a Member and Officer of the Order of Canada, recipient of numerous awards, and a passionate advocate for charitable giving, Donald K. stands as a remarkable figure in Canadian society. Recognized for his unwavering determination and perseverance, Mr. Johnson's impact on tax reform and charitable giving has left a lasting legacy, both nationally and internationally in a revitalized charitable sector, the organizations he has supported, and the communities that have benefited from his dedication and vision.