Power Financial Corporation

Investment decisions are overseen by Paul Desmarais Jr. as Chairman and Co-CEO and André Desmarais as Deputy Chairman and Co-CEO. The firm's public board includes independent directors, but the Desmarais family maintains effective control through a dual-class share structure (per public filings, 2025).

Power Financial Corporation is a publicly-traded company — shares trade on the Toronto Stock Exchange under the symbol PWF. This structure allows minority investors to participate in the Desmarais family's investment portfolio while the family retains voting control. Unlike a private family office, it must disclose financials and adhere to public company governance (per the firm's annual report, 2024).

While its core holdings are controlling stakes in Great-West Lifeco and IGM Financial, the firm also makes direct investments through subsidiaries like Power Energy Corporation, which targets infrastructure and renewable energy assets. It has participated in private equity and real estate deals, though these represent a smaller portion of its overall portfolio compared to its public holdings (per public filings).

The firm's portfolio is predominantly Canadian, reflecting its roots and the regulatory structure of its insurance and asset management businesses. It has exposure to the United States and select European markets through its operating subsidiaries, particularly Great-West Lifeco's international insurance operations (per the firm's 2024 annual report).

The wealth was built by Paul Desmarais Sr. (1927-2013), who took over his father's small bus company in Sudbury, Ontario, and expanded it into a national transportation empire before acquiring Power Corporation of Canada in the 1960s and transforming it into a financial services holding company (per public biographical records).

Power Financial Corporation is a subsidiary of Power Corporation of Canada, which is the parent holding company controlled by the Desmarais family. Power Corporation of Canada holds a controlling interest in Power Financial Corporation's shares, which in turn holds stakes in Great-West Lifeco, IGM Financial, and other operating companies (per public filings).

As a publicly-traded holding company, Power Financial Corporation primarily focuses on controlling stakes in large, established financial services firms (insurance, asset management). Its direct investment arm explores growth-equity and infrastructure assets, with recent emphasis on energy transition and renewables. It does not typically participate in venture-stage or early-stage private markets (per the firm's strategy disclosures).