Early Life
Jay Stewart Hennick was born in Toronto, Ontario, Canada, on January 20, 1957. Raised in a modest home, he was instilled with a strong work ethic and entrepreneurial spirit. At 15, he began his entrepreneurial journey by working as a summer lifeguard, which sparked his interest in the service industry. In 1972, at age 17, Hennick borrowed $1,000 from his father to launch Superior Pools, a swimming pool staffing and management company. This venture laid the foundation for his future success.
Rise to Success
After graduating from high school in 1975, Hennick earned a Bachelor of Arts degree in Economics from York University in 1978 and a Bachelor of Laws from the University of Ottawa in 1981. He practiced corporate and securities law for 13 years before transitioning to business leadership. In 1989, Hennick founded FirstService Corporation, a real estate services company. He took the company public on the Toronto Stock Exchange in 1993. In 2010, FirstService acquired Colliers International, and in 2015, he orchestrated the spin-off of Colliers as a separate public company, where he serves as Global Chairman and CEO.
Key Business Strategies
Hennick's success stems from his strategic vision and ability to consolidate fragmented markets. He built FirstService into a leading property services provider through acquisitions and organic growth. His key strategies included expanding into residential property management, which captured an estimated 5% North American market share by the mid-2010s. He then orchestrated the spin-off of Colliers International, creating a global commercial real estate leader.
Philanthropy
Jay and his wife, Barbara, established The Jay and Barbara Hennick Family Foundation in 2008 to support education, healthcare, and the arts. The foundation has made significant donations to various Canadian institutions. Notable contributions include funding the Hennick Centre for Business and Law at York University and programs at the University of Ottawa. They have also supported healthcare initiatives, including the Hennick Family Wellness Centre at Mount Sinai Hospital.