Power Financial

Power Financial Corporation operates as an international management and holding company with interests in financial services and asset management businesses in Canada, the United States, and Europe. It offers life, disability, critical illness, accidental death, dismemberment, dental protection, creditor, and health insurance; retirement and investment management; and reinsurance and retrocession; and investment advisory, financial planning, and related services, as well as wealth savings and income products, and specialty products. The company also provides employer-sponsored defined contribution plans, individual retirement accounts, enrollment services, communication materials, investment options and education services, fund management services, and investment and advisory services. In addition, it offers private label record keeping and administrative services; investment products, such as equity, fixed income, absolute return and alternative strategies, hedge fund, and model-based separately managed accounts and portfolios; and protection and wealth management products, such as payout annuities, equity release mortgages, life bonds, retirement drawdown, and pension, as well as securities, mortgages, and other financial services; and private equity, and debt and thematic funds. Further, the company holds interests in various businesses, such as mineral-based specialty solutions; testing, inspection, and certification; cement, aggregates, and concrete; wines and spirits; sporting goods design and distribution; materials technology and recycling of precious metals; food and beverage; disposable hygiene products; Atlantic salmon; customer experience and business process outsourcing; developer and publisher of mobile games; and regional leisure parks. Additionally, it operates a digital investing platform. The company was founded in 1984 and is based in Montréal, Canada. Power Financial Corporation is a subsidiary of Power Corporation of Canada.


Power Financial Corporation has interests in companies in the financial services sector in Canada, the United States and Europe. While its parent company Power Corporation was originally established as an electric utility holding company, the company became a conglomerate with major interests in the finance industry.Founded in 1984 with the ambition of creating an integrated financial services group, Power Financial has remained committed to the growth and evolution of its primary holdings through its controlling interests in Great West Lifeco and IGM. Power Financial also has significant holdings in a portfolio of global companies based in Europe through its investment in Pargesa.The Nesbitt family sold most of their interest in Power Corporation to the Paul Desmarais group in 1968.R. Jeffrey Orr was named Power Financial Corporation CEO in 2005.By 2007, IGM Financial was the holding company for Power Corporation's investment fund companies. Power Corporation also by 2009 had interests in the parent company of La Presse, Mackenzie Financial, London Life Insurance, Canada Life Assurance, Great-West Life, and Putnam Investments.

2020 reorganization

On December 13, 2019, Power Corporation announced a reorganization transaction through which each common share of Power Financial would be exchanged for 1.05 subordinate voting shares of Power Corporation and $0.01 in cash. Upon the completion of the reorganization transaction, on February 13, 2020, Power Corporation holds all of the common shares of Power Financial, which were delisted from the Toronto Stock Exchange effective as of the close of business on February 18, 2020. Power Financial remains a reporting issuer in all of the provinces and territories of Canada.

The share price for Power Corporation increased by 7.9% following the initial announcement of the transaction as the reorganization is expected to benefit shareholders by creating long-term value through:

Simplified and less costly structure with a reduction in operating expenses of $50M per year and a reduction in financial charges of $15M per year.

A more focused strategy emphasizing financial services.

Increased quarterly dividend by 10%

To build value through international diversification and market leadership by combining traditional and innovative approaches.

To be a trusted provider of diversified financial solutions that bring meaningful value to our customers.

Key Team

Mr. Denis Le Vasseur C.P.A., F.C.A., FCPA, CPA, C.A. (VP & Controller)

Recognition and Awards
Power Financial Corporation has been recognized with the Financial Post's Best Managed Companies Award for 10 consecutive years, the J.D. Power and Associates Award for customer satisfaction and the Best Employer in Canada Award by the Human Resources Institute.

Power Financial
Leadership team

Mr. Gregory Dennis Tretiak FCA (Exec. VP & CFO)

Mr. Robert Jeffrey Orr (Pres, CEO & Director)

Mr. Stéphane Lemay (VP, Gen. Counsel & Sec.)

Products/ Services
Credit Cards, Financial Services, FinTech
Number of Employees
20,000 - 50,000
New York, New York, United States
Net Income
1B - 20B
Above - 1B
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