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Power Financial Corp (PWF.TO)

PWF.TO on Toronto Stock Exchange

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14 Dec 2018
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Summary

Name Age Since Current Position

Andre Desmarais

61 2008 Executive Co-Chairman of the Board

Paul Desmarais

64 2008 Executive Co-Chairman of the Board

R. Jeffrey Orr

59 2005 President, Chief Executive Officer, Director

Amaury de Seze

72 2012 Vice Chairman

Michel Plessis-Belair

76 2012 Vice Chairman

Henri-Paul Rousseau

68 2013 Vice Chairman

Gregory Tretiak

62 2012 Chief Financial Officer, Executive Vice President

Claude Genereux

55 2015 Executive Vice President

Paul Desmarais

36 2017 Senior Vice President

Paul Genest

2016 Senior Vice President

Arnaud Vial

65 Senior Vice President

Stephane Lemay

2012 Vice President, General Counsel, Secretary

Denis Le Vasseur

2004 Vice President, Controller

Olivier Desmarais

2014 Vice President

Fabrice Morin

2016 Vice President

Eoin O hOgain

2016 Vice President

Richard Pan

2008 Vice President

Luc Reny

Vice President

Delia Cristea

2017 Assistant Secretary

Marc Bibeau

59 2009 Independent Director

Gary Doer

69 2016 Independent Director

Gerald Frere

67 1990 Independent Director

Anthony Graham

61 2001 Independent Director

J. David Jackson

71 2013 Independent Director

Susan McArthur

55 Independent Director

T. Timothy Ryan

72 2014 Independent Director

Emoke Szathmary

74 1999 Independent Director

Siim Vanaselja

61 Independent Director

Biographies

Name Description

Andre Desmarais

Mr. Andre Roger Desmarais, o.c. o.q. serves as Executive Co-Chairman of the Board of Power Financial Corporation. Mr. Desmarais is Executive Co-Chairman of the Corporation, and Deputy Chairman, President and Co-Chief Executive Officer of Power. Prior to joining Power in 1983, he was Special Assistant to the Minister of Justice of Canada and an institutional investment counsellor at Richardson Greenshields Securities Ltd. He has held a number of senior positions with Power group companies and was named President and Co-Chief Executive Officer of Power in 1996. Mr. Desmarais is a Director of many Power Financial group companies in North America, including Lifeco, Great-West, Great-West Life & Annuity Insurance Company, London Life, Canada Life Financial Corporation, Canada Life, Putnam Investments, LLC, IGM, Investors Group Inc. and Mackenzie Inc. He is also a Director of Power. He is Director and Vice-Chairman of Pargesa in Europe. He was a Director of Bellus Health Inc. until 2009 and of CITIC Pacific Limited in Asia until 2014. Mr. Desmarais is Honorary Chairman of the Canada China Business Council and is a member of several China-based organizations. Mr. Desmarais is active in a number of cultural, health and other not-for-profit organizations. In 2003, he was named an Officer of the Order of Canada and, in 2009, he was named an Officer of the Ordre national du Québec. He has received Doctorates Honoris Causa from Concordia University, Université de Montréal and McGill University. Mr. Desmarais is a trustee of the Desmarais Family Residuary Trust.

Paul Desmarais

Mr. Paul Desmarais, Jr. O.C. O.Q. serves as Executive Co-Chairman of the Board of Power Financial Corporation. Mr. Desmarais is Co-Chairman of the Corporation and Chairman and Co-Chief Executive Officer of Power. Prior to joining Power in 1981, he was with S.G. Warburg & Co. in London, England, and with Standard Brands Incorporated in New York. He was Chairman of the Board of the Corporation from 1990 to 2005, Vice- Chairman from 1989 to 1990 and President and Chief Operating Officer from 1986 to 1989. He was named to his present position with Power in 1996. Mr. Desmarais is a trustee of the Desmarais Family Residuary Trust.[5] Mr. Desmarais is a Director of many Power Financial group companies in North America, including Lifeco, Great-West, Great-West Life & Annuity Insurance Company, London Life, Canada Life Financial Corporation, Canada Life, Putnam Investments, LLC, IGM, Investors Group Inc. and Mackenzie Inc. He is also a Director of Power. In Europe, he is Chairman of the Board and Executive Director of Pargesa, Vice-Chairman of the Board of Groupe Bruxelles Lambert, and Director of GDF Suez, Total SA, Lafarge SA and SGS SA. He was Vice-Chairman of the Board and a Director of Imerys until 2008. Mr. Desmarais is a member of the Advisory Council of the European Institute of Business Administration (INSEAD), a Trustee of The Brookings Institution (Washington), a Co-Chair of the Brookings International Advisory Council, a member of the Global Board of Advisers of the Council on Foreign Relations (New York), the Chairman of the Canadian Council of Chief Executives and a member of the Global Advisory Council of Harvard University (Boston). He is also involved in a number of charitable and community activities. He was named an Officer of the Order of Canada in 2005, an Officer of the National Order of Québec in 2009 and Chevalier de la Légion d’honneur in France in 2012. He has received Doctorates Honoris Causa from Université Laval, Université de Montréal and McGill University.

R. Jeffrey Orr

Mr. R. Jeffrey Orr serves as President, Chief Executive Officer, Director of Power Financial Corporation, since May 2005. From May 2001 until May 2005, he was President and Chief Executive Officer of IGM. Prior to joining IGM, he was Chairman and Chief Executive Officer of BMO Nesbitt Burns Inc. and Vice-Chairman, Investment Banking Group of the Bank of Montreal. Mr. Orr had been with BMO Nesbitt Burns Inc. and predecessor companies since 1981. Mr. Orr is a Director of Power and is also a Director, the Chairman of the Board and the Chairman or a member of various Board committees of IGM, Investors Group Inc. Mackenzie Inc. Lifeco, Great-West, Great-West Life & Annuity Insurance Company, London Life, London Insurance Group Inc. Putnam Investments, LLC, Canada Life Financial Corporation, Canada Life and The Canada Life Insurance Company of Canada. He is also a Director of PanAgora Asset Management Inc. Mr. Orr is active in a number of community and business organizations.

Amaury de Seze

Mr. Amaury-Daniel de Seze serves as Vice Chairman of Power Financial Corporation. Until May 2010, he was Director of Power from May 2001 and one of its Vice-Chairmen from March 2008. He was Chairman of PAI partners, a management company of private equity funds, from 1998 until 2007. He was a member of the Executive Committee of BNP Paribas, one of Europe’s banks, until 2004. He serves on the Board of Directors of several European-based companies, including Carrefour S.A. where he is Chairman of the Board, Publicis S.A. Suez Environnement Company, Imerys S.A. Thales S.A. Groupe Bruxelles Lambert and Pargesa. He joined the Paribas group in 1993 as a member of the Management Board of Banque Paribas and Compagnie Financière de Paribas and, prior to that, he held senior positions with the Volvo Group, including as a member of the Group’s Management Board of AB Volvo in Sweden. He was a Director of Eiff age S.A. until 2008.

Michel Plessis-Belair

Mr. Michel Plessis-Belair serves as Vice Chairman of Power Financial Corporation since May 14, 2012. Previously he was Executive Vice-President and Chief Financial Officer of the Corporation and Vice-Chairman and Chief Financial Officer of Power until January 2008. Before joining Power 1986, he was Executive Vice-President and Director of Société générale de financement du Québec and, prior to that, Senior Vice-President of Marine Industries Limited. He is a Director of several Power Financial group companies in both North America and Europe, including Lifeco, The Great-West Life Assurance Company, Great-West Life & Annuity Insurance Company, London Life Insurance Company, Canada Life Financial Corporation, The Canada Life Assurance Company, Crown Life Insurance Company, IGM, Investors Group Inc., Mackenzie Inc., Pargesa and Groupe Bruxelles Lambert. He is also a Director of Power, Lallemand Inc. the Universitede Montréal and Hydro-Quebec, and he is on the International Advisory Board of Ecole des hautes etudes commerciales of Montréal.

Henri-Paul Rousseau

Dr. Henri-Paul Rousseau, Ph.D. serves as Vice Chairman of the Power Financial Corporation. He was previously President and Chief Executive Officer of the Caisse de dépôt et placement du Québec from May 2005 to May 2008 and Chairman and Chief Executive Officer from September 2002 to April 2005. Prior thereto, he was President and Chief Executive Offi cer of the Laurentian Bank of Canada from 1994 to 2002, Vice-Chairman, President and Chief Executive Offi cer of Boréal Assurances Inc. from 1992 to 1994 and Vice-President of the National Bank of Canada from 1986 to 1992. Mr. Rousseau was a professor of economics at the Université Laval from 1975 until 1986 and at the Université du Québec à Montréal from 1973 until 1975. He is a Director of Power. He is also a Director of several Power Financial group companies, including Lifeco, The Great-West Life Assurance Company, Great-West Life & Annuity Insurance Company, London Life Insurance Company, Canada Life Financial Corporation, The Canada Life Assurance Company, Crown Life Insurance Company, IGM, Investors Group Inc., Mackenzie Inc. and Putnam Investments, LLC. As well, he is a member of the Board of Directors of the Global Financial Markets Association. Mr. Rousseau has received Doctorates Honoris Causa from Concordia University, the Université Lumière Lyon 2 (France), the Université Laval and the Université de Sherbrooke. He is active in number of community and not-for-profit organizations.

Gregory Tretiak

Mr. Gregory D. Tretiak serves as Chief Financial Officer, Executive Vice President of Power Financial Corporation, with effective from May 2012. Mr. Tretiak has been with IGM Financial Inc. (a subsidiary of the Corporation) for 24 years and is currently Executive Vice-President and Chief Financial Officer, a position he has held since 1999. Mr. Tretiak will also join Power Corporation of Canada, as Executive Vice-President and Chief Financial Officer.

Claude Genereux

Mr. Claude Genereux serves as Executive Vice President of Power Financial Corporation since March 2015. Mr. Genereux is also Executive Vice President of Power Corporation of Canada. Previously, senior Director of McKinsey & Company, a global management consulting firm.

Paul Desmarais

Mr. Paul Desmarais III, serves as Senior Vice-President of the Corporation and Power since January 2017; previously, Vice-President of the Corporation and Power since May 2014; previously, Assistant Vice-President in the Risk Management Group of Lifeco since 2012; previously, Project Manager at Imerys.

Paul Genest

Mr. Paul C. Genest serves as Senior Vice President of the company. previously, Fellow at the Brookfield Institute for Innovation and Entrepreneurship since October 2015; previously, Deputy Minister in the Ontario Government.

Arnaud Vial

Mr. Arnaud Vial serves as Senior Vice President of Power Financial Corporation. He is Senior Vice President of Power Corporation of Canada. Mr. Vial also serves as Managing Director of the Pargesa.

Stephane Lemay

Mr. Stephane Lemay serves as Vice President, General Counsel, Secretary of Power Financial Corporation, since August 3, 2012. Mr. Lemay joined Power Corporation of Canada (Power Financial Corporation's parent company) in 2005 as Vice-President, Assistant General Counsel and Associate Secretary and was appointed to the same position at Power Financial Corporation in 2009. Prior to joining Power, he held various executive legal and public affairs positions with companies in the telecommunications and manufacturing sectors. Mr. Lemay began his career as lawyer in a Montreal-based national law firm.

Denis Le Vasseur

Mr. Denis Le Vasseur serves as Vice-President and Controller of Power Financial Corporation. Mr. Le Vasseur is also the Vice President and Controller of Power Corporation of Canada.

Olivier Desmarais

Mr. Olivier A. Desmarais serves as Vice President of Power Financial Corporation, since May 2014. He is also Vice-President of Power Corporation of Canada. Previously, Mr. Desmarais was Director of Business Development at Square Victoria Digital Properties Inc. and Associate at Putnam

Fabrice Morin

Eoin O hOgain

Mr. Eoin O hOgain serves as Vice President of the Corporation and Power since September 2016; previously, Vice-President, Fundamental Equities Investing at State Street Global Advisors, an investment advisory firm, since 2013; previously, Associate Principal, Strategy and Corporate Finance at McKinsey & Company.

Richard Pan

Mr. Richard Pan serves as Vice President of Power Financial Corporation. Mr. Pan was previously Executive Director at Goldman Sachs International (UK) in the Global Natural Resources Group from 2006 to 2008.

Luc Reny

Mr. Luc Reny serves as Vice President of Power Financial Corporation. He is also Vice-President of Power Corporation of Canada. Mr. Reny holds MBA from Universite de Sherbrooke and Bachelors in Finance from Universite de LAVAL.

Delia Cristea

Marc Bibeau

Mr. Marc A. Bibeau serves as Independent Director of Power Financial Corporation. Mr. Bibeau is President and Chief Executive Officer of Beauward Shopping Centres Ltd. a privately owned company which develops, leases and operates real estate properties, a position he has held since 1996. He previously held a number of other positions with that company. Mr. Bibeau is a Director of IGM, Investors Group Inc. and Mackenzie Inc. He was previously a Director of Lifeco, Great-West, London Life, Canada Life Financial Corporation and Canada Life until May 2009. Mr. Bibeau is also a member of the Board of Directors of Tennis Canada.

Gary Doer

Mr. Gary Albert Doer serves as Independent Director of the company. Mr. Doer is a Senior Business Advisor to the law firm Dentons Canada LLP since August 2016. From 2009 to 2015, he served as Canada’s Ambassador to the United States. He was previously the Premier of Manitoba from 1999 to 2009 and served in a number of positions as a member of the Legislative Assembly of Manitoba from 1986 to 2009, including as Minister of Urban Affairs from 1986 to 1988 and as Minister of Crown Investments from 1987 to 1988. From 1979 to 1986, Mr. Doer was the President of the Manitoba Government Employees’ Association. Mr. Doer is a Director of several Power group companies in North America, including Power, Lifeco, Great-West, Great-West Life & Annuity Insurance Company, London Life, Canada Life Financial Corporation, Canada Life, Putnam Investments, LLC, IGM, Investors Group Inc. and Mackenzie Inc. Mr. Doer is also a director of Barrick Gold Corporation since April 2016. Mr. Doer is a volunteer Co-Chair of the Wilson Centre’s Canada Institute, a non-partisan public policy forum focused on Canada-U.S. relations. In 2010, he became a Member of the Order of Manitoba and, in 2011, he received a distinguished diplomatic service award from the World Affairs Council.

Gerald Frere

Mr. Gerald Frere serves as Independent Director of Power Financial Corporation. Mr. Frere is Managing Director of Frere-Bourgeois S.A., a financial group based in Belgium. Mr. Frere is Chairman of the Board of Loverval Finance SA, Vice-Chairman and Managing Director of Pargesa and Commissioner of Parjointco N.V. He is also a Director of ERBE. From 1993 to December 2011, he was Managing Director of Groupe Bruxelles Lambert of which he also became Chairman of the Board on January 1, 2012. He was a Director of Electrabel S.A. from April 2010 to April 2014, of Pernod Ricard from November 2009 to November 2012 and of Lafarge SA from May 2008 to November 2011. Mr. Frere is also Regent of the National Bank of Belgium.

Anthony Graham

Mr. Anthony R. Graham, LL.D. serves as Independent Director of Power Financial Corporation. Mr. Graham is Vice-Chairman and a Director of Wittington Investments, Limited (“Wittington Investments”), an investment management company and the principal holding company of the Weston-Loblaw Group. From June 2000 to May 2014, he was President of Wittington Investments. Prior thereto, he held senior positions in Canada and the United Kingdom with National Bank Financial Inc. (formerly Lévesque Beaubien Geoffrion Inc.), a Montréal-based investment dealer. Mr. Graham also serves on the Board of Power. Mr. Graham serves on the Boards of George Weston Limited, Graymont Limited, Brown Thomas Group Limited, Holt Renfrew & Co. Limited and Selfridges & Co. Ltd. Until July 2015, he served on the Boards of Loblaw Companies Limited and President’s Choice Bank, of which he served as Chairman from February 1999 to May 2014. Mr. Graham also serves as Chairman of the Ontario Arts Foundation and the Shaw Festival Theatre Endowment Foundation. He is a Director of the Art Gallery of Ontario, the Canadian Institute for Advanced Research, St. Michael’s Hospital, Luminato and the Trans Canada Trail Foundation. In June 2007, he was awarded an Honorary Doctorate of Laws from Brock University.

J. David Jackson

Mr. J. David A. Jackson, LL.B. serves as Independent Director of Power Financial Corporation. Mr. Jackson retired as a Partner of the law firm Blake, Cassels & Graydon LLP (“Blakes”) in 2012, and currently serves as Senior Counsel to the firm, providing advice primarily in the areas of mergers and acquisitions and corporate governance. He was the Chairman of Blakes from 1995 to 2001. He was recognized throughout his career as a leading practitioner in the areas of mergers and acquisitions, corporate finance and corporate governance by numerous independent assessment organizations. Mr. Jackson is a Director of Power and of several Power Financial group companies in North America, including Lifeco, Great-West, London Life, Canada Life Financial Corporation and Canada Life. He served as a Director of Investors Group Inc. from 1991 to 2001. Mr. Jackson has also served as a Director of a number of public and private corporations. He was a Director and the Vice-Chairman of the Board of Sunnybrook Health Sciences Centre until June 2011. He holds a Bachelor of Commerce degree from the University of Windsor and a Bachelor of Laws (LL.B.) from Osgoode Hall Law School, and was called to the Bar of Ontario in 1974.

Susan McArthur

Ms. Susan J. McArthur serves as independent Director of the company. Ms. McArthur is a Managing Partner at GreenSoil Investments, a private equity firm focused on investing in real estate technology and agro food technology, a position she has held since April 2013. She has 25 years of international and domestic investment banking experience and has advised corporate clients on a broad range of transactions including acquisitions and divestitures, public and private equity and debt financing, capital restructuring and other strategic initiatives. Previously, Ms. McArthur was a Senior Investment Banker at Jacob Securities Inc., an investment banking firm specializing in renewable energy, oil and gas, mining and infrastructure. She has held positions with Rothschild Canada Limited in Toronto, Lazard Freres & Co. in New York and Paris and The First Boston Corporation in New York. Ms. McArthur is a Director of several Power Group companies in North America, including Lifeco, Great-West, London Life, Canada Life Financial Corporation and Canada Life. She is also a Director of IGM, Investors Group Inc. and Mackenzie Inc. and is a trustee of Chemtrade Logistics Income Fund. She has previously served as a Director on a number of boards, including Chair of the Canada Revenue Agency Board of Management and Director of First Capital Realty Inc., KP Tissue Inc., KPGP Inc., Globalive Wireless Management (Wind Mobile), UBS Bank Canada, Orvana Minerals Inc., Bonus Resources Services, the Canadian Club of Toronto, Les Jardins de Métis Inc., Luminato and the Toronto International Film Festival. Ms. McArthur is a graduate in Economics and Political Science from the University of Western Ontario (now Western University).

T. Timothy Ryan

Mr. T. Timothy (Tim) Ryan, Jr. serves as Independent Director of Power Financial Corporation, effective May 2014. Mr. Ryan is a Company Director. Until October 2014, he was Managing Director, Global Head of Regulatory Strategy and Policy of JPMorgan Chase & Co. (“J.P. Morgan”) a global financial services firm, a position he had held since February 2013. From 2008 to 2013, he was President and Chief Executive Officer of the Securities Industry and Financial Markets Association (“SIFMA”), a trade association representing 680 global financial market participants. Prior to joining SIFMA, he was Vice-Chairman, Financial Institutions and Governments, at J.P. Morgan, where he was a member of the firm’s senior leadership. Prior to joining J.P. Morgan in 1993, Mr. Ryan was the Director of the Office of Thrift Supervision, U.S. Department of the Treasury. Mr. Ryan is a Director of many Power group companies in North America, including Power, Lifeco, Great-West, Great-West Life & Annuity Insurance Company, London Life, Canada Life Financial Corporation, Canada Life and Putnam Investments, LLC, having previously served as a director of the Corporation and of Power from May 2011 to May 2013 and of Lifeco from May 2010 to May 2013. Mr. Ryan is Chairman of the Board of Santander Holdings U.S.A., Inc. and Santander Bank, N.A. He has served as a director of Markit Group Limited from April 2013 to October 2014 and of Lloyds Banking Group from March 2009 to April 2013. He was a private sector member of the Global Markets Advisory Committee for the National Intelligence Council from 2007 to 2011.

Emoke Szathmary

Dr. Emoke J. E. Szathmary, Ph.D. C.M. O.M. FRSC, serves as Independent Director of Power Financial Corporation. Dr. Szathmáry was named President Emeritus of the University of Manitoba in 2008. She received the title of Professor Emeritus in the Department of Anthropology in 2014. From 1996 to 2008, she was President and Vice-Chancellor of the University of Manitoba. She was previously Provost and Vice-President (Academic) of McMaster University in Hamilton and, prior thereto, Dean of the Faculty of Social Science of the University of Western Ontario in London (now Western University). Dr. Szathmáry is a Director of Power. Until May 2017, she served as a Director of many Power Group companies in North America, including Lifeco, Great-West, London Life, Canada Life Financial Corporation and Canada Life. Dr. Szathmáry also serves on the Board of Directors of several national and provincial educational, research and philanthropic not-for-profit organizations. She has received the Lieutenant Governor’s Medal for Excellence in Public Administration in Manitoba and seven Honorary Doctorates. Dr. Szathmáry is a Fellow of the Royal Society of Canada and a Member of the Order of Canada and of the Order of Manitoba. In 2015, she was appointed Honorary Colonel of the Royal Winnipeg Rifles.

Siim Vanaselja

Mr. Siim A. Vanaselja serves as Independent Director of the company. Mr. Vanaselja is a Company Director. He served as the Executive Vice-President and Chief Financial Officer of BCE Inc. and Bell Canada, from 2001 to 2015. Prior to joining BCE Inc., he was a Partner with KPMG Canada in Toronto. Mr. Vanaselja is a Director of Lifeco, GreatWest, London Life, Canadian Life Financial Corporation and Canada Life. He is also a Director and Chair of the Board of TransCanada Corporation and a trustee of RioCan Real Estate Investment Trust. Mr. Vanaselja previously served as a Director and Chair of the Audit Committee of Maple Leaf Sports & Entertainment Ltd. He also previously served on the Finance Minister’s Federal Advisory Committee on Financing, on Moody’s Council of Chief Financial Officers, the Corporate Executive Board’s Working Council for Chief Financial Officers and on the Conference Board of Canada’s National Council of Financial Executives. Mr. Vanaselja is a Fellow of the Chartered Professional Accountants of Ontario and holds an Honours Bachelor of Business Administration degree from the Schulich School of Business