Power Corporation of Canada - Company Profile
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Power Corporation of Canada (Power Corporation) is a diversified international management and holding company, which holds interests in companies in financial services, renewable energy, and other business sectors. The company, through its subsidiaries, provides a range of retirement and investment services, life insurance, reinsurance, investment management services, asset management and health insurance to individuals, businesses, and other private and public companies. It also focuses on specialty minerals; testing, inspection, and certification; cement, aggregates, and concrete; oil, gas, and renewable energies; wines and spirits; materials technology and recycling; and design and distribution of sportswear. The company’s operations are spanned across the US, Canada, and Europe. Power Corporation is headquartered in Montreal, Quebec, Canada.
Headquarters
Canada
Address
751 Victoria Square, Montreal, Quebec, H2Y2J3
Website
www.powercorporation.com/en
Telephone
1 514 2867400
No of Employees
37,300
Industry
Financial Services
Ticker Symbol & Exchange
POW (TSE)
Revenue (2022)
$16.5B
4.5%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
Market Cap*
$16.1B
Net Profit Margin (2022)
XYZ
-4.3%
(2022 vs 2021)
* As of and is in US$
Power Corporation of Canada premium industry data and analytics
Products and Services
| Products | Services | Brands |
|---|---|---|
| Life Insurance | Client Services | IGM Financial |
| Reinsurance | Administrative and Recordkeeping Services for Financial Institutions | |
| Mutual Funds | Enrolment Services | |
| XYZ | XYZ | |
| XYZ | XYZ | |
| XYZ | XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | Divestiture | In May, the company's subsidiary Great-West Lifeco sold Putnam Investments to Franklin Templeton, to enable Putnam's potential and provides Lifeco's U.S. strategy to continue focusing on personal and wealth retirement. |
| 2023 | Acquisitions/Mergers/Takeovers | In April, the company’s subsidiary IGM Financial acquired a stake in Rockefeller Capital Management to expand and explore the wealth management market in the U.S. |
| 2023 | Acquisitions/Mergers/Takeovers | In April, the company’s Canada Life acquired Investment Planning Counsel, to take the lead in the independent advisor wealth market in Canada. |
Competitor Comparison
| Key Parameters | Power Corporation of Canada | Brookfield Corp | MetLife Inc | Prudential Financial Inc | American International Group Inc (AIG) |
|---|---|---|---|---|---|
| Headquarters | Canada | Canada | United States of America | United States of America | United States of America |
| City | Montreal | Toronto | New York | Newark | New York |
| State/Province | Quebec | Ontario | New York | New Jersey | New York |
| No. of Employees | 37,300 | 240,000 | 45,000 | 40,658 | 25,200 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Paul Desmarais, Jr | Chairman | Executive Board | 1996 | - |
| Andre Desmarais | Deputy Chairman | Executive Board | 2008 | - |
| Jake Lawrence | Executive Vice President; Chief Financial Officer | Senior Management | 2024 | - |
| Michel Plessis-Belair | Vice Chairman | Senior Management | 2008 | - |
| Richard Pan | Head - Corporate Finance; Vice President | Senior Management | 2008 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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