Lögberg-Heimskringla - 05.12.2003, Page 4

Lögberg-Heimskringla - 05.12.2003, Page 4
page 4 * Lögberg-Heimskringla » 5 December 2003 My Career as an lcelandic North American This column recognizes people oflcelandic descent who have made or are making a contribution to the Icelandic/North American community. Please let us know if there is someone you would like to see featured. Contact (204) 284-5686 or email us at logberg@mts.net A Philanthropist at Heart Donald Johnson Donald K. Johnson is Vice Chairman of BMO Nesbitt Bums. He joined its predeces- sor firm Bums Bros. & Denton on June 3, 1963, just shy of his 28th birthday. So he’s been with them now for over forty years. And he is not contem- plating retirement, although he grants that the “normal retire- ment age is sixty-five.” This year he has been lob- bying to have the Canadian tax law changed, in conformity with UK and US law, to encourage donations to chari- ties. In a piece entitled “Our charities need Ottawa’s help,” he says, “I’m very enthusiastic about the prospect of strength- ening the finances of our uni- versities, hospitals and other charitable organizations and revitalizing Canada’s cultural institutions.” In the Financial Post, he was described as “a tireless investment banker” arguing for the amendment of the Income Tax Act. Don Johnson knows what he’s talking about. When speaking with L-H he said, rather modestly, “I spend a por- tion of my time on the not-for- profit sector.” In fact, he has been involved in fund raising campaigns in the health care, education, social services and arts sectors, including for his alma maters, the Universities of Manitoba and Westem Ontario. He has been the Chairman of the Council for Business and the Arts in Canada. It was while he was chairing the National Ballet Company of Canada’s $12 million Capital Campaign that he became con- cerned about the adverse impact of the federal and provincial government cut- backs to the charitable sector. From 1995 through 1997, Don led a team of community lead- ers from all areas of the charita- ble sector across Canada to lobby the government to change the tax law to exempt gifts of appreciated capital property from capital gains taxes. They succeeded in hav- ing it reduced by fifty percent. He is now proposing that the remaining capital gains tax on gifts of listed securities be eliminated. Don started out in Lundar MB, the son of Fjola (Kristjansson) and Paul Johnson, and brother to Margret Reykdal of Edmonton, AB, Paul of Winnipeg, MB and Cyril of Canmore, AB. The family moved to Winnipeg in 1952, where he finished his senior matriculation at Daniel Mclntyre High School and then went to the University of Manitoba to study engineering. He still wears his engineering ring, even though he figured out early on that his interests lie elsewhere. Following his graduation in 1957 he joined Canadian General Electric in Toronto, and there became intrigued with marketing and finance. He knew he wanted more edu- cation, and that he needed some money to pursue that dream. So he went north and worked on the DEW line for two years. He applied to the Ivey Business School at the University of Western Ontario in London, ON to pursue his Masters in Business Administration and attended there from 1961-1963. He was the gold medallist in his class. He had chosen the right profession. Don describes the business he is in as unique. “It is an opportunity to work with and provide advice to senior execu- tives, advising them on financ- ing, acquisitions and mergers. It is interesting and satisfying.” When asked what he saw as the biggest changes in his business over the years, he identified four. One is global- ization. He has seen “a huge increase in intemational trade and capital markets. Leading Canadian companies are going international while foreign interests are acquiring compa- nies in Canada.” Another change is between Canada and the United States, “it has become a borderless society in our industry. With eighty percent of Canadian exports going to the United States, and Canada being with- in the same time zones ...” A third change is within the company itself. “Up until 1986 investment banking firms were employee owned and con- trolled. It was a partnership culture. Once the banks acquired the firms, we became part of a major financial institu- tion with employees. We were a smaller part of a larger and much more structured organi- zation.” And identifying the fourth rnajor change, he said, “Technology and communica- tions have influenced the flow of and access to information. It has increased productivity by speeding up communications, but on the other hand you can get swamped.” In 2000 Don led the BMO Nesbitt Burns team on the largest merger and acquisition deal in the firm's history up to that point. It involved British American Tobacco and IMAS- CO. He says, “There’s an expectation in the firm that I will bring in another deal. So I have no specific plans to retire.” Following Lundar’s lOOth anniversary celebrations in 1987, he and his siblings and children went to Iceland. Subsequently he has been there several times for business rea- sons. Please see A Philan- thropist at Heart on Page 5 1111 Bankérs <Sr Tradhrs 1111 INSURANCE Brokfrs Inc. Jeff Kristjanson Private Insurance Broker HOME • AUTO • COMMF.RCIAF. 10203-139 Street, Edmonton, Alberta T5N 3W2 Telephone (780) 451-5755 Fax (780) 451-5110 www.bankersandtraders.com Arnason Funeral Service Ltd. Serving Interlake Area Chapels at Lundar and Ashern lst Avenue N., Ashern Telephone: 768-2072 Arborg Nic Nacs & Flowers Main Street, Arborg Pat Eyolfoson, Val Anderson, Deanna Fridfinson Phone (204) 376-5023 “Unique gifts and flowers for every occasion” The ICELANDIC CANADIAN § Gerist 6 áskrífendurl o o M D 3 1/1 Return to: The lcelandlc Canadlan P.O, Box 1156 Glmll, Manitoba Canada R0C 1B0 Renew your acquaintance with your lcelandic herltage by returning thls form, together wtth your cheque/money order payable to: Canada lceland Foundatlon □ ' One year subscrlptlon (4 Issues) $32 □ Two year subscrlptlon (8 Issues) $64 Y NAME_______ ' ________________ ADDRESS..... ........:............ I I CITY/TOWN PROV/STATE POSTAL CODE/ZIP COUNTRY tw os cm* <m ih unn* fiin* im mv 'nf'Hkiw hri u rtrwfer niittoitn # nm \ rin 'nk'hkikiHh

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