Power Corporation of Canada is a Canadian holding company founded in 1925 by Arthur J. Nesbitt and Peter A. Thomson. It has evolved from an industrial conglomerate into a leading financial services and media group, with major subsidiaries including Great-West Lifeco, IGM Financial, and Power Financial.
Arthur J. Nesbitt and Peter A. Thomson establish Power Corporation of Canada as an investment holding company. The company initially concentrates on public utilities and industrial sectors. #business #finance
Power Corporation of Canada lists its shares on the Montreal Stock Exchange, gaining access to public capital for expansion. #finance
Power Corporation acquires a controlling interest in Shawinigan Water and Power Company, a major Quebec utility, marking its entry into the energy sector. #energy #acquisition
Power Corporation diversifies by acquiring stakes in pulp and paper companies, including the Bathurst Power and Paper Company. #industry
Under new management, Power Corporation decides to divest its industrial holdings and focus on financial services, a pivotal strategic change. #finance #strategy
Power Corporation acquires Investors Group, a Canadian mutual fund and financial services company, strengthening its asset management capabilities. #acquisition #finance
Power Corporation acquires Great-West Life Assurance Company, a major Canadian insurer, establishing a cornerstone of its insurance operations. #insurance #acquisition
Power Corporation acquires London Life Insurance Company, further expanding its life insurance portfolio in Canada. #insurance #acquisition
Paul Desmarais Sr. assumes chairmanship of Power Corporation, leading the company through decades of expansion and diversification. #leadership
Power Corporation restructures its financial services holdings into a new subsidiary, Power Financial Corporation, which goes public. #restructuring #finance
Power Corporation fully acquires The Investors Group, consolidating its wealth management operations. #acquisition #wealthmanagement
Power Corporation enters the media industry by acquiring a stake in the newspaper La Presse, marking its entry into publishing. #media )
Power Corporation acquires Canada Life Assurance Company, further strengthening its insurance division. #insurance #acquisition
Power Corporation consolidates its wealth management businesses under IGM Financial Inc., which becomes a publicly traded company. #finance #restructuring
Power Corporation acquires a significant stake in Pargesa Holding SA, a Swiss holding company, expanding its international presence. #investment #international
Power Corporation establishes Power Technology Investments to focus on technology and telecommunications ventures. #technology
IGM Financial acquires Mackenzie Financial, a major Canadian mutual fund company, expanding its asset management business. #acquisition #finance
Power Corporation acquires full ownership of La Presse, the largest French-language daily newspaper in Canada. #media #acquisition )
Power Corporation consolidates its media assets under Power Media Corporation, including newspapers, television, and radio. #media #restructuring
Power Corporation divests its technology holdings, refocusing on core financial services and media. #divestiture #strategy
Great-West Lifeco completes the acquisition of Canada Life, creating one of Canada's largest life insurance companies. #insurance #acquisition
Power Corporation increases its stake in Pargesa, gaining exposure to European financial and industrial companies. #international
Power Corporation establishes Power Sustainable Capital, a private equity arm focused on renewable energy and sustainable investments. #sustainability #privateequity
Great-West Lifeco acquires Putnam Investments, a US asset management firm, expanding its global reach. #acquisition #finance
IGM Financial acquires the wealth management firm MacDougall, MacDougall & MacTier, strengthening its high-net-worth offerings. #acquisition #wealthmanagement
Power Corporation sells La Presse to a charitable trust, ending its direct involvement in the newspaper industry. #media #divestiture )
Power Financial acquires Irish Life Group from the Irish government, expanding its European insurance presence. #acquisition #insurance
Great-West Lifeco acquires Freedom Life Insurance in the US, enhancing its individual life insurance business. #acquisition #insurance
Paul Desmarais Jr. succeeds his father as executive chairman of Power Corporation, leading a new generation of leadership. #leadership
IGM Financial launches Wealthsimple, a digital investment management platform, entering the fintech space. #fintech #innovation
Power Financial Corporation changes its name back to Power Corporation of Canada, simplifying its corporate structure. #restructuring
Great-West Lifeco acquires Personal Capital, a US digital wealth management platform, expanding its digital capabilities. #acquisition #fintech
Power Corporation sells its stake in Pargesa Holding, exiting its European investments to focus on North America. #divestiture #international
Power Corporation announces a restructuring to become a pure holding company, simplifying its governance and tax structure. #restructuring
IGM Financial acquires the remaining stake of Wealthsimple, fully integrating the digital platform into its operations. #acquisition #fintech
Great-West Lifeco acquires Prudential's UK life insurance business, significantly expanding its operations in the UK. #acquisition #insurance
Power Corporation completes the sale of its remaining media assets, fully exiting the media industry to focus on financial services. #media #divestiture