Power Financial

Power Financial Corporation (TSX: PWF) is a Canadian multinational diversified management and holding company that was founded in 1984 and has interests, directly or indirectly, in companies in the financial services sector in Canada, the United States and Europe, through its controlling interests in Great-West Lifeco and IGM Financial. Power Financial also has substantial holdings in a diversified group based in Europe, Pargesa Holding SA.[2]

Power Financial Corporation
Subsidiary, Public
Traded asTSX: PWF
IndustryConglomerate
Founded1984[1]
HeadquartersMontreal, Quebec, Canada
ProductsFinancial services, insurance
$1,717 billion (2017)[2]
AUM$843 billion (2017)[2]
Number of employees
26,800 employees and 12,200 financial advisors (2017)[2]
ParentPower Corporation of Canada
WebsitePowerFinancial.com

In partnership with its subsidiaries Great-West Lifeco and IGM Financial, Power Financial holds an investment in Portag3, an investment fund dedicated primarily to backing innovative financial services companies. Both through Portag3 and directly, Power Financial and IGM Financial also hold interests in Wealthsimple, a technology-driven investment manager.[3]

Power Financial is a subsidiary of Power Corporation of Canada.

Corporate governance

R. Jeffrey Orr was appointed as President and Chief Executive Officer of Power Financial in 2005. Paul Desmarais, Jr. and André Desmarais are Executive Co-Chairmen of the Board.[4]

Current members of the board of directors of Power Financial are: Marc A. Bibeau, André Desmarais, Paul Desmarais, Jr., Gary Doer, Gérald Frère, Anthony R. Graham, J. David A. Jackson, Susan J. McArthur, R. Jeffrey Orr, T. Thimothy Ryan, Jr., Emöke J.E. Szathmáry, and Siim A. Vanaselja[5].

Directors emeritus of the company have included: former Chief Executive Officer James W. Burns and Michael Pitfield (deceased.)

References

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