CEO View: Paul Desmarais, Jr. Of Power Corporation Of Canada
In 1925, Power Corporation of Canada pioneered the development of the hydroelectric industry, supplying power to homes and business across the country. But today the company is no longer about electric power; it's all about the financial services industry. Instead of generating kilowatts, this family-controlled management and holding company has responsibility for overseeing many billions of dollars in assets. With the acquisition of an insurance company, The Great West Life (still a staple of the company's portfolio) and a mutual fund company, Investors Group, Desmarais, Sr. created the foundation of what has become PCC's strongest investment sector: financial services.