Power Corporation of Canada:
A Century Stronger
In 2025, Power Corporation celebrates its 100th anniversary, a meaningful milestone in its rich history.
For the past century, Power has been creating a positive impact for its employees, investors, clients, and communities — a century of steady growth achieved through sustainable long-term investments rooted in responsible management, consistency, and outstanding leadership. We are eager to take on the next hundred years and are committed to building on our past successes, as we continue to write new chapters in this unique Canadian success story.
View our 100th anniversary video
Explore Power Corporation’s history
April 18, 1925
Power Corporation is founded by A.J. Nesbitt and P.A. Thomson
P.A. Thomson
A.J. Nesbitt
Early common stock certificate of Power Corporation
1925-1950
Power invests in electrical infrastructure in Canada, helping consolidate and expand power utilities across the country
Chute Hemmings hydroelectric development
1950s-1960s
Power continues to acquire minority positions in power companies across Canada, while also making substantial investments in diversified companies, including other sources of energy, finance, and pulp and paper
Interior of power station, Shawinigan Water and Power Co., Shawinigan, QC, 1917
1968
Power’s leadership passes to financier Paul Desmarais, Sr.
Paul Desmarais, Sr.
Power Corporation organizational chart as of December 31, 1968
1969
Canada Steamship Lines-operated ocean-going vessels and Great Lakes freighters
Power acquires majority ownership of Canada Steamship Lines
1969
Power makes its first direct investment in Investors Group as part of a financing arrangement by which Investors bought 51% of The Great‑West Life Assurance Company, a first step in building an integrated financial services group
1971
Power retains Gesca’s control over La Presse and Les Journaux Trans-Canada, increasing control to 100% in 1973
1976-1979
A period of restructuring, with a focus on changing Power’s asset profile, as the company’s financial assets grow in importance throughout this period
Early 1980s
1981
Power sells its wholly owned CSL Group, through which it owned Canada Steamship Lines
1981
Pargesa’s headquarters building in Geneva, Switzerland
Power makes an initial investment in Pargesa Holding in alliance with several partners, including the Belgian entrepreneur Albert Frère, the beginning of an extraordinary partnership
1984
Power Financial Corporation created as an integrated financial services group, with James W. Burns as its first President and CEO
James (Jim) W. Burns
1990
Robert Gratton
Robert Gratton is appointed President and CEO of Power Financial
1990
Power signs an agreement with the Frère‑Bourgeois group to formally link their interests in the joint control of Pargesa by Parjointco
Paul Desmarais, and Albert Frère, circa 1990
1996
Paul Desmarais, Jr. becomes Chairman and Co‑CEO and André Desmarais becomes President and Co‑CEO of Power after Paul Desmarais, Sr., formally steps down
Paul Desmarais, Jr. and André Desmarais, 1996
1997
Great-West Lifeco buys 100% of London Insurance Group, the first representation of Power’s strategy to be a leading participant in the consolidation of the financial services industry
2001
Investors Group (subsequently renamed IGM Financial) acquires Mackenzie Financial, making it Canada’s largest mutual fund organization
Early 2000s
Sagard is launched in Europe in 2002, followed by a launch in North America in 2005
2003
IGM Financial purchases Investment Planning Counsel, Canada’s fifth-largest financial planning firm
2003
Great-West Lifeco acquires Canada Life and secures its position as Canada’s leading life and health insurance operation
2005
R. Jeffrey Orr appointed President and CEO of Power Financial
2007
Great-West Lifeco acquires Putnam Investments, a world-class mutual fund brand, in line with its strategy of broadening its financial services business in the U.S.
2011
Power acquires a 10% stake in ChinaAMC, a leading company in the Chinese asset management sector
2012
The agreement between Power and the Frère-Bourgeois group is extended to 2029
2013
Great-West Lifeco acquires all the shares of Irish Life Group Limited, further extending its presence in Europe
2013
Paul Desmarais, Sr.
The Honourable Paul Desmarais, Sr. passes away, after a life of remarkable personal and business achievement
2014
Great-West Financial acquires J.P. Morgan Retirement Plan Services and announces that its retirement business would officially be named Empower Retirement™
2014
Olivier Desmarais, son of André Desmarais, and Paul Desmarais III, son of Paul Desmarais, Jr., join the group of companies
Paul Desmarais III
Olivier Desmarais
2016-2018
Power Financial, in partnership with Great-West Lifeco and IGM Financial, launches a multi-pronged fintech strategy
2018
50th anniversary of the Desmarais family’s commitment to Power Corporation
2018
Investors Group rebrands to IG Wealth Management, reflecting its central focus on helping clients grow their wealth
2019
Power Corporation and Power Financial announce a reorganization with the aim of simplifying the group’s corporate structure and refocusing its strategy
2020
Power Sustainable is founded
2020
As part of the reorganization, R. Jeffrey Orr is appointed President and Chief Executive Officer of Power
2020
Great-West Life, London Life and Canada Life are combined and become The Canada Life Assurance Company
2020
The merger of Pargesa and Parjointco Switzerland is completed and, as a result, Pargesa ceases to exist
2022
Empower announces a series of entity name alignments to strengthen its brand as a leader in the U.S. market
2023
IGM Financial moves to strengthen its wealth management business and announces the acquisition of a 20.5% interest in Rockefeller Capital Management
2024
Great-West Lifeco closes the sale of Putnam Investments to Franklin Templeton
2025
Power celebrates
its 100th anniversary
its 100th anniversary
