Power Corporation of Canada

The Desmarais family controls the firm through a dual-class share structure held by the Desmarais Family Residual Trust. Paul Desmarais Jr. serves as Chairman, his brother André as Deputy Chairman, and multiple third-generation family members hold senior roles across the operating companies. R. Jeffrey Orr, a non-family professional, has served as President and CEO since 2005 and runs day-to-day operations.

Power Corporation is a publicly traded holding company, not a private family office. The Desmarais family's voting control is absolute through a dual-class share structure, but minority public shareholders own a portion of the economic interest. The underlying assets—Great-West Lifeco, IGM Financial, Wealthsimple—are separate public or private entities with their own management teams and boards.

Power Corporation holds a controlling stake in Great-West Lifeco, a publicly traded life insurance and retirement company with operations in Canada, the US, and Europe. Great-West Lifeco is Power Corporation's largest asset, representing the bulk of its balance sheet and generating a significant portion of group earnings. As of 2023, Great-West Lifeco reported approximately $1 trillion in assets under administration.

The sale of Putnam Investments to Franklin Templeton, completed in April 2024, was structured as a strategic pivot toward capital-light partnerships. Rather than compete directly in US active asset management, Great-West Lifeco—and by extension Power Corporation—secured a significant equity stake in the combined Franklin Templeton entity, gaining exposure to global distribution without the operational overhead of running a standalone US manager.

Power Corporation's European exposure comes primarily through a long-standing partnership with the Frère family of Belgium. The two families jointly participate in Groupe Bruxelles Lambert (GBL), a publicly traded European holding company with positions in total energy, industrials, and consumer brands. This partnership has been a fixture of Power Corporation's strategy for decades and provides diversification outside North American financial services.

Power Corporation participates in venture and growth through controlling or significant minority stakes, most notably Wealthsimple, the Canadian digital wealth and trading platform where Power holds a majority stake. The firm also operates Power Sustainable, a private investment platform focused on renewable energy and infrastructure, which deploys capital outside the traditional insurance and asset management footprint.

The Power Corporation of Canada Foundation directs philanthropic giving, but governance is formally separated from the operating companies. The family's engagement with institutions like the World Economic Forum and the Business Council of Canada creates a network effect that supports deal sourcing and policy influence, though the corporations themselves are managed by professional executives under public-company regulatory standards.