Power Corporation of Canada is a global financial services and holding enterprise engaged in wealth and investment management. The Montreal-based firm operates through several subsidiaries in the international market across North America, Europe, and Asia (mainly China).
The company was incorporated in April 1925.
Power Corporation is listed on the Toronto Stock Exchange and trades under the symbol ‘POW’.
In 2020, after a reorganization transaction, the company garnered 100 per cent interest in the Power Financial Corporation, a financial and asset management company with operations in Canada, the United States and Europe.
The Montreal-based company, via Power Financial, holds 66.8 per cent interest in Great-West LifeCo, 62.1 per cent stake in IGM Financial and 14.1 per cent in Groupe Bruxelles Lambert.
Power Corporation also holds 13.9 per interest in China AMC, an asset manager that provides wealth management and distribution opportunity to its platform of companies.
International financial services provider, Great-West LifeCo, has 100 per cent ownership in Canada Life, Irish Life, Empower Retirement and Personal Capital. Furthermore, it holds 96.3 per cent interest in Putnam Investments and 92.2 per cent interest in PanAgora Asset Management.
LifeCo, through its subsidiaries, operates in North America and Europe. IGM Financial has a 100 per cent stake in IG Wealth Management, Mackenzie
Investments and Investment Planning Counsel, including a 70 per cent stake in Northleaf.
The financial firm owns alternative asset management platforms, which manages the portfolio on behalf of third-party investors and corporate clients. It operates through Sagard Holdings and Power Sustainable Capital and caters to clients in Europe, China and North America.
On November 30, 2020, Lion Electric Company announced a merger with Northern Genesis Acquisition Corp, a special purpose acquisition company. Power Sustainable Capital holds a 44.2 per cent equity stake in Lion Electric Company, an all-electric medium and heavy-duty urban vehicle manufacturer.
Power Corporation is a signatory to the United Nations Global Compact (UNGC) since 2014 and claims to adopt sustainable practices in its operations. In 2016, the company was reconfirmed to the FTSE4Good Index Series, which measures performance of the firms based on Environmental, Social and Governance (ESG) practices.
751 Victoria Square Montréal, Québec, Canada H2Y 2J3