Stephen J.R. Smith, founder and executive chair of First National Financial, has been named to the Order of Ontario, joining a select group of 30 recipients for 2025 who have merited the highest civilian honour the Province bestows. The award was established in 1986 to recognize distinguished service and exceptional achievements that support, improve and uplift life in Ontario and beyond.
“The 2025 Order of Ontario appointees represent the very best of our province,” says Edith Dumont, Lieutenant Governor of Ontario. “May their remarkable examples continue to inspire us all to work together for the greater good.”
Smith is cited for his transformative influence on mortgage lending. Since it’s 1988 inception, First National has grown into the largest non-bank lender of residential and commercial mortgages in Canada, with a loan book of $153 billion. Smith is additionally chair and co-owner of Canada Guaranty Mortgage Insurance, Canada’s third largest provider of mortgage insurance, and has more recently overseen the merger of Home Trust with Fairstone Bank of Canada.
He is also a generous philanthropist — notably donating $150 million to his alma mater, Queen’s University in support of its business and engineering faculties — and a strong supporter of the arts and historical education and curation. He has served on numerous boards of directors of for-profit corporations and non-profit organizations.
Smith holds a Bachelor of Science in electrical engineering from Queen’s University and a Master of Science in economics from the London School of Economics. He is ranked 642nd on Forbes’ real-time billionaires list.
Appointees to the Order of Ontario must first receive a third-party nomination that makes the case for their career-based contributions. These are then evaluated by an independent advisory council that includes the Chief Justice of Ontario, the Speaker of the provincial legislative assembly, the Secretary of the Ontario cabinet and up to six additional appointees who are themselves members of the Order of Ontario.
Along with Smith, the 2025 appointees come from a wide range of fields and disciplines including public service, skilled trades, business, technology, mining, sports, the arts, health care and science.
“These inspiring individuals have demonstrated dedication and leadership in a wide range of careers and pursuits, making a lasting difference in our communities and reflecting the very best of our province,” says Graham McGregor, Ontario’s Minister of Citizenship and Multiculturalism.
