Director since 2006
Mr. Aune is President of Aldervest Inc. and was previously Chairman of St. James Financial Corporation from 1990 to 2005 (both private investment companies).
Mr. Aune, a retired chartered accountant, joined Nesbitt Thomson Inc. in 1966 and served as the company’s Chairman and Chief Executive Officer from 1980 to 1990. He is a director of a number of Canadian public and private corporations, including Teck Resources Ltd. and Constellation Software Inc.
He holds the title of Governor Emeritus of Concordia University and was a past Chairman of the Investment Dealers Association of Canada. Mr. Aune has also served as a member of the board of the Montreal General Hospital Corporation, the Board of Governors of the Montreal Chest Institute Foundation, and the Board of Trustees of the Canadian YMCA Retirement Fund.
Director since 2009
Mr. Bibeau has been the President and Chief Executive Officer of Beauward Shopping Centres Ltd., a privately owned company that develops, leases, and operates real estate properties, since 1996.
He graduated from Bishop’s University with a Bachelor of Business Administration. Mr. Bibeau is a director of IGM Financial, Investors Group, and Mackenzie. Prior to that, he held directorships at Great-West Lifeco and several of its subsidiaries, including Great-West Life, London Life, Canada Life Financial, and Crown Life.
Mr. Bibeau is very involved and supportive of many local charities especially those related to cancer and children’s care. A lifelong tennis enthusiast, he joined the board of directors of Tennis Canada in 2010.
Director since 1988
Mr. Desmarais is Deputy Chairman, President, and Co-Chief Executive Officer of Power Corporation, and Co-Chairman of Power Financial. Prior to joining Power Corporation in 1983, he was Special Assistant to the Minister of Justice of Canada and an institutional investment counsellor at Richardson Greenshields Securities Ltd.
He is a director of many Power group companies in North America, including Power Financial, Great-West Lifeco, Great-West Life, Great-West Life & Annuity, London Life, Canada Life Financial, Canada Life, Crown Life, Putnam Investments, IGM Financial, Investors Group, and Mackenzie Financial. He is also a director of Pargesa in Europe, and of CITIC Pacific Ltd. in Asia, in which Power Corporation holds a minority interest.
Over the years, cultural, health, and other not-for-profit organizations in Montréal have benefitted from his contributions, involvement, and dedication. He has played key roles in a number of fundraising campaigns, including those of the Montreal Museum of Fine Arts, the Montreal Heart Institute, Leucan, the Canadian Red Cross, the Canadian Cancer Society (The Daffodil Ball), and Centraide of Greater Montreal. He is a director of the Fondation Baxter & Alma Ricard, a member of the Chairman’s International Advisory Council of the Americas Society, Honorary Chairman of the Canada China Business Council, and a member of several China-based organizations.
He holds a Bachelor of Commerce from Concordia University and received honorary doctorates from Concordia University and Université de Montréal. In 2003, he was made an Officer of the Order of Canada and, in 2009, an Officer of the National Order of Québec.
Director since 1966
Mr. Desmarais acquired control of Power Corporation in 1968 and is presently Chairman of the Executive Committee. He is also a director of Power Financial and Chairman of the Board and Executive Director of Pargesa Holding, an international investment group based in Switzerland. He is also a director of Groupe Bruxelles Lambert. In addition, Mr. Desmarais serves as Director Emeritus of Great-West Lifeco and of IGM Financial, and holds directorships in Square Victoria Communications Group and La Presse ltée.
Mr. Desmarais is a major contributor towards community services, education, and the arts. In 1986, he founded the Société d’Investissement Jeunesse, an initiative offering financing and technical support for young people starting a business. In the 1990s, he served as Honorary Chair of the University of Ottawa’s $226-million Campaign for Canada’s University fundraising campaign. He is Founding Chairman of the Canada China Business Council.
Mr. Desmarais is a member of the Queen’s Privy Council for Canada, a Companion of the Order of Canada, an Officer of the National Order of Québec, a Grand’Croix de l’Ordre national de la Légion d’honneur (France), and a Commandeur de l’Ordre de Léopold II (Belgium). He obtained a Bachelor of Commerce degree from the University of Ottawa, and he holds honorary degrees and distinctions from 13 Canadian universities.
Director since 1983
Mr. Desmarais is Chairman and Co-Chief Executive Officer of Power Corporation and Co-Chairman of Power Financial. Prior to joining Power Corporation in 1981, he was with S.G. Warburg & Co. in London, England, and with Standard Brands Incorporated in New York.
He is a director of numerous Power group companies in North America, including Power Financial, Great-West Lifeco, Great-West Life, Great-West Life & Annuity, London Life, Canada Life Financial, Canada Life, Crown Life, Putnam Investments, IGM Financial, Investors Group, and Mackenzie Financial. He is also Vice-Chairman of the Board and Executive Director of Pargesa, and a director of Groupe Bruxelles Lambert, GDF Suez, Total, and Lafarge.
Mr. Desmarais is a member of the International Council and a director of the European Institute of Business Administration (INSEAD), Chairman of the Board of Governors of the International Economic Forum of the Americas, and a trustee and Co-Chair of the International Advisory Council of the Brookings Institution in Washington. He is the founder and a member of the International Advisory Board of the McGill University Faculty of Management in Montréal and the founder and a member of the International Advisory Committee of École des hautes études commerciales (HEC) in Montréal.
Mr. Desmarais is also involved in various charitable and community activities in Montréal. He obtained a Bachelor of Commerce from McGill University and an MBA from INSEAD, and he received honorary doctorates from Université Laval and the Université de Montréal. In 2005, he was named an Officer of the Order of Canada and, in 2009, an Officer of the National Order of Québec.
Director since 1990
Mr. Frère is the Managing Director of Frère-Bourgeois, a financial group based in Belgium, which he joined in 1972. He also serves as Managing Director of Groupe Bruxelles Lambert, a Belgium-based holding company with a portfolio of industrial investments, since 1993.
He is Vice-Chairman of Pargesa Holding and has been a director of the company since 1992. He is a director of Compagnie Nationale à Portefeuille and was named as the company’s Chairman of the Board in 1998. Mr. Frère holds directorships of a number of companies including Lafarge, Electrabel, Pernod Ricard, and RTL Belgium.
He serves as Regent of the National Bank of Belgium and as an Honorary Consul for France. Mr. Frère was educated in Switzerland.
He is a director of the Fonds Charles-Albert Frère, an organization dedicated to helping children in difficulty as well as underprivileged adults. It comprises four non-profit organizations, which receive regular, substantial donations from the family to help fund their programs: Hippocrène, a centre that provides treatment for young people with physical, mental, or social disabilities through “equestrian therapy”; the Charles-Albert Frère Psychotherapy Hospital, a day-centre that welcomes young children with severe mental difficulties; Éclaircie (Ray of sunshine), which offers in-home treatment and assistance to children with serious or terminal conditions and provides support for their caregivers; and Echoline, an association that offers medical and psychological pre- and post-natal care at home for women from particularly disadvantaged backgrounds.
Director since 2001
Mr. Graham is President and a director of Wittington Investments, Limited, an investment management company and the principal holding company of the Weston-Loblaw Group. Prior to joining Wittington, he held senior positions in Canada and the U.K. with National Bank Financial Inc. (formerly Lévesque Beaubien Geoffrion Inc.), a Montréal-based investment dealer.
Mr. Graham is Chairman and a director of President’s Choice Bank. He also serves on the boards of Power Corporation and a private company in the Power group, as well as George Weston Limited, Loblaw Companies Limited, Graymont Limited, Brown Thomas Group Limited, De Bijenkorf B.V., Holt Renfrew & Co., Limited, and Selfridges & Co. Ltd.
Mr. Graham is active in the art and business community, as a board member of the Ontario Arts Foundation, the Art Gallery of Ontario, the Canadian Institute for Advanced Research, the Council for Business and the Arts in Canada, St. Michael’s Hospital, and Luminato. He is the former Chairman of both Branksome Hall School and the Shaw Festival and is presently Chairman of each of their foundations.
Mr. Graham is a member of the Canadian Council of Chief Executives and the World Presidents’ Organization (WPO). He is also Honorary Colonel of the Royal Regiment of Canada. In 1995, he was recognized by the Financial Post as one of “Canada’s Top 40 Under 40,” and, in 1998, he was awarded the Government of Ontario Volunteer Service Award. In June 2007, he received an Honorary Doctor of Laws degree from Brock University.
Director since 1986
Mr. Gratton is currently Deputy Chairman of Power Corporation and a director of Power Financial. He joined Power Financial as President in 1989 and was named Chief Executive Officer in 1990. He served in these capacities until 2005, when he was appointed Chairman of the Board, a position he held until 2008.
He served as Chairman of the Board, Chairman of the Executive Committee, and a director of several Power group companies until 2008 and was also a director of Pargesa Holding until 2010.
Mr. Gratton began his career in 1966, as Assistant to the former Minister of Education and Deputy Premier of Québec, the Honourable Paul Gérin-Lajoie. In 1971, he joined Crédit Foncier Franco-Canadien. He was named Chief Operating Officer in 1975, and President and Chief Executive Officer in 1979. In 1982, he became Chairman of the Board, President and Chief Executive Officer of Montreal Trust.
Mr. Gratton is a member of the Harvard Business School Canadian Advisory Board. He served as a member of The Conference Board of Canada, The Conference Board, Inc., the C.D. Howe Institute, and The Trilateral Commission. He has been a director of a number of other companies, community organizations, and foundations.
Mr. Gratton holds an MBA from Harvard Business School, a Master of Laws from the London School of Economics, and a Bachelor of Laws degree from Université de Montréal.
Director since 2009
Mr. Harder is Senior Policy Advisor to the law firm Fraser Milner Casgrain and President of the Canada China Business Council, an association that seeks to facilitate and to promote trade and investment between Canada and China. He has previously served as Canada’s Deputy Minister of Foreign Affairs, and additionally served as Deputy Minister in a number of other federal departments, including Treasury Board, Solicitor General, Citizenship and Immigration, and Industry Canada. At Foreign Affairs, Mr. Harder assumed the responsibilities of Personal Representative of the Prime Minister at three G8 Summits.
Mr. Harder is a director of IGM Financial, Investors Group, and Mackenzie. He is also a director of TimberWest, Telesat Canada, Energizer Resources, Northland Power and Pinetree Capital Limited. Mr. Harder also volunteers his time serving The United Church Foundation, Genome Canada, and chairs The National Police Services Advisory Council (RCMP). Since 2008, he also serves as an independent advisor to the Auditor General of Canada.
Mr. Harder holds a Bachelor of Arts (Honours) in Political Science from the University of Waterloo and a Master of Arts from Queen’s University.
Director since 1996
Mr. Mazankowski is a director of Power Corporation and of Power Financial. He is also a senior advisor to Gowling Lafleur Henderson and a director of Atco Ltd. Mr. Mazankowski previously served as a director of several Power group companies in Canada, as well as a number of other companies in the communications, forestry, and oil sectors.
He was first elected to the House of Commons in 1968 and went on to serve as a member of the Parliament of Canada for 25 years. Mr. Mazankowski held several senior Cabinet positions, including Minister of Transport, Deputy Prime Minister, President of the Queen’s Privy Council, and Government House Leader. He held a number of other portfolios, including President of the Treasury Board, Privatization and Regulatory Affairs, Agriculture, and Finance. He retired from active politics in 1993.
While his main interests have been trade and economics, Mr. Mazankowski has also been involved in a number of other areas. In 1985, he helped establish the Don Mazankowski Scholarship Foundation, to help youth achieve their educational goals and aspirations. He is a past member of the University of Alberta’s board of governors, and he has chaired the Institute of Health Economics as well as the Canadian Genetic Diseases Network. In 2006, Mr. Mazankowski co-chaired the Advisory Committee on the Public Service of Canada.
He has received a number of awards and honours. In 2000, he was named an Officer of the Order of Canada, and in 2002, a Paul Harris Fellow by Rotary International. Also in 2002, he received a Queen’s Golden Jubilee Medal, in recognition of his significant contribution to Canada, and in 2003, Alberta’s highest honour, the Alberta Order of Excellence.
In 2010, as a tribute to his distinguished career as a parliamentarian, the Canadian Association of former Parliamentarians awarded him the “Lifetime Achievement Award.”
Mr. Mazankowski received an Honorary Doctor of Engineering degree from the Technical University of Nova Scotia in 1987, an Honorary Doctor of Laws degree from the University of Alberta in 1993, and he was named a Distinguished Citizen and awarded an Honorary Arts degree from Grant MacEwan University in 2009.
Director since 2008
Mr. McFeetors has been Vice-Chairman of Power Financial and Chairman of the Board of Great-West Lifeco since 2008. He has been with the Great-West group of companies since 1968, most recently as President and Chief Executive Officer of Great-West Lifeco and a number of its major subsidiaries. He is also a director and Chairman of the Board of Great-West Life, London Life, Canada Life Financial, Canada Life, Crown Life, and Great-West Life & Annuity, and serves as a director of IGM Financial, Investors Group, Mackenzie Financial, and Putnam Investments.
Mr. McFeetors serves on the boards of directors of a number of national organizations in the health, education, cultural, and business sectors.
In 2002, Mr. McFeetors was appointed Honorary Colonel of The Royal Winnipeg Rifles and, that same year, was awarded the Queen Elizabeth II Golden Jubilee Medal. He holds a Bachelor of Arts degree from the University of Winnipeg and was awarded an Honorary Doctor of Laws by his alma mater in 2007. Mr. McFeetors is a CFA charterholder.
Director since 1999
Mr. Nickerson is Chairman of the Board of H.B. Nickerson & Sons Limited, a management and holding company based in North Sydney, Nova Scotia.
He is also a director of Power Corporation as well as several Power group companies and their affiliates in North America, including Great-West Lifeco, Great-West Life, Great-West Life & Annuity, London Life, Canada Life Financial, Canada Life, Crown Life, and Putnam Investments. He also serves as an honorary director of the Bank of Montreal.
He has served on the boards of various organizations, federal and provincial Crown corporations, and other public and private companies. Mr. Nickerson holds a Bachelor of Commerce from Dalhousie University.
Director since 2005
Mr. Orr was appointed President and Chief Executive Officer of Power Financial in 2005. He also serves as a director of Power Corporation and a number of Power group subsidiaries, including Great-West Lifeco, IGM Financial, London Life, Canada Life Financial, Crown Life, Putnam Investments, Investors Group, and Mackenzie Financial. He chairs various Executive, Investment, Compensation, and Governance and Nominating Committees of several of these companies and their affiliates. Mr. Orr is Chairman of the Board of IGM Financial, Putnam Investments, Investors Group, and Mackenzie Financial.
Mr. Orr started his career in 1981 with Nesbitt Thomson, a predecessor firm to BMO Nesbitt Burns Inc. He rose quickly through the ranks to become Chairman and Chief Executive Officer of BMO Nesbitt Burns Inc. and Vice-Chairman of the Bank of Montreal’s Investment Banking Group. He joined the Power group of companies in 2001 as President and Chief Executive Officer of IGM Financial.
Mr. Orr is active in a number of other community and business organizations. He was Co-Chair of the 2009 Centraide (United Way) of Greater Montreal Campaign, and he is a member of the Canadian Council of Chief Executives.
Mr. Orr holds a Bachelor of Arts - Honors Business Administration (HBA) degree from the Richard Ivey School of Business in London, Ontario.
Director since 1988
Mr. Plessis-Bélair is Vice-Chairman of Power Corporation since 2008. Previously, he was Vice-Chairman and Chief Financial Officer of Power Corporation and Executive Vice-President and Chief Financial Officer of Power Financial.
He is a director of several Power group companies in both North America and Europe, including Great-West Lifeco, Great-West Life, Great-West Life & Annuity, London Life, Canada Life Financial, Canada Life, Crown Life, IGM Financial, Investors Group, Mackenzie Financial, Pargesa, Groupe Bruxelles Lambert, and La Presse ltée. Mr. Plessis-Bélair is also a director of Lallemand Inc., Université de Montréal, and Hydro-Québec, and is a member of the International Advisory Board of École des hautes études commerciales (HEC) of Montréal.
Mr. Plessis-Bélair is a Fellow of the Québec Order of Chartered Accountants. He holds a degree in Business and Accounting and a Master of Business from HEC, an MBA from Columbia University, and a Bachelor of Arts from Université de Montréal.
Director since 2009
Mr. Rousseau has been a Vice-Chairman of Power Corporation and of Power Financial since 2009. He is also a director of several Power group companies, including Great-West Lifeco, Great-West Life, Great-West Life & Annuity, London Life, Canada Life Financial, Canada Life, Crown Life, IGM Financial, Investors Group, Mackenzie Financial, and Putnam Investments. He is a member of the board of directors of the Global Financial Markets Association.
Previously, he held the position of President and Chief Executive Officer of the Caisse de dépôt et placement du Québec. Prior to that, he was President and Chief Executive Officer of the Laurentian Bank of Canada, and served as Vice-Chairman and President and Chief Executive Officer of Boréal Assurances Inc., as well as Senior Vice-President of the National Bank of Canada.
Mr. Rousseau obtained a Ph.D. in Economics from the University of Western Ontario in 1973. In recognition for his contributions as an economist, accomplished manager, and involved citizen, he was awarded honorary doctorates from Concordia University, Université Lumière Lyon 2, Université Laval, and Université de Sherbrooke. In 2006, he was named a “Great Montrealer” by the Board of Trade of Metropolitain Montreal’s Academy of Great Montrealers. He was a professor of Economics at both Université Laval and Université du Québec à Montréal. He is Chairman of the Montreal Heart Institute Foundation and is active in a number of community and not-for-profit organizations in the sectors of health and education.
Director since 2010
Mrs. Roy has been an invited Fellow at CIRANO, the Centre interuniversitaire de recherche en analyse des organizations, since 2003 and is also the President of the Conseil des arts de Montréal. She serves as a director of Intact Financial Corporation, Montréal International, and the Université de Montréal, where she has acted as Chancellor and Chair of the Board since 2007.
Over the course of her career, she has held a number of senior executive positions, including Senior Vice-President of the International Air Transport Association (IATA), President and Chief Executive Officer of Télémedia Communications Inc., Executive Vice-President of Air France, Senior Vice-President of the Laurentian Group, and President and Chief Executive Officer of the Montreal Urban Community Transport Commission (MUCTC). She has worked in various capacities with the Québec Department of Transport.
Mrs. Roy earned a Bachelor of Science in Sociology from Université de Montréal. She holds a master’s degree (M.Sc.) and has completed doctoral studies in Sociology from the University of Wisconsin. She has participated in several fundraising campaigns, notably for the Université de Montréal and diverse cultural organizations. For her outstanding achievements in the economic, social, and political fields, she has received numerous awards and distinctions, including the Concordia University’s Faculty of Commerce & Business Administration Award of Distinction in 1988, the Université de Montreal’s Edouard Montpetit Medal in 1992, the Public Policy Forum’s Award of Distinction in 1994, and the Federated Press award of Excellence in 2003. In 2009, she was named Officer of the National Order of Québec.
Montreal’s
Director since 1986
Mr. Royer is a director of several Power group companies in North America, including Great-West Lifeco, Great-West Life, Great-West Life & Annuity, London Life, Canada Life Financial, Canada Life, Crown Life, and Putnam Investments.
From 1996 to 2008, he served as President and Chief Executive Officer of Domtar Corporation, a Montréal-based pulp and paper company. His vision and leadership helped instil renewed vigour into the company. He also played a key role in the development of Bombardier Inc. during his tenure as the company’s President and Chief Operating Officer from 1986 to 1996, transforming it into a Canadian centre of excellence in the transportation equipment industry. Mr. Royer currently serves as a member of the board of the McGill University Health Centre (MUHC) and of the International Advisory Board of École des hautes études commerciales (HEC) of Montréal.
Mr. Royer holds a Bachelor of Civil Law, a Master of Commerce, and a Master of Accountancy from Université de Sherbrooke. He also received honorary doctorates from Université de Sherbrooke, Université de Montréal (École Polytechnique), and Université Laval. He is a member of the Québec Bar and a Fellow of the Québec Order of Chartered Accountants. He was named an Officer of the Order of Canada, a Commandeur de l’Ordre de Léopold II (Belgium), and an Officer of the National Order of Québec.
Director since 2011
Mr. Ryan is President and Chief Executive Officer of the Securities Industry and Financial Markets Association (SIFMA), the leading trade association representing global financial market participants, and Chief Executive Officer of the Global Financial Markets Association (GFMA), SIFMA’s global affiliate. Mr. Ryan is also a director of Power Corporation, Great-West Lifeco, Putnam Investments, Great-West Life & Annuity, Lloyds Banking Group, Lloyds TSB Bank, HBOS, the Bank of Scotland, and the United States-Japan Foundation.
Prior to joining SIFMA, Mr. Ryan held a number of senior appointments with J.P. Morgan from 1993 to 2008, including Vice-Chairman, Financial Institutions and Governments, and Managing Director.
He is a private sector member of the Global Markets Advisory Committee for the U.S. National Intelligence Council (NIC). From 2002 to 2004, Mr. Ryan was a member of the U.S.-Japan Private Sector/Government Commission with responsibility for Corporate Restructuring and the NPL workout, and from 2000 to 2004, he served as a board member and Chairman of the Audit Committee at KorAm Bank in Seoul, Korea.
Before joining J.P. Morgan, Mr. Ryan was the Director of the Office of Thrift Supervision, U.S. Department of the Treasury, where he served as the principal manager of the savings and loan cleanup that involved closing approximately 700 insolvent institutions, improving capital bases, and selling over $300 billion of assets.
Mr. Ryan is a graduate of Villanova University and the American University Law School. He served as an officer in the U.S. Army from 1967 to 1970.
Director since 2010
Mr. de Seze has been Vice-Chairman of Power Financial since 2010. Prior to that, he served as a director of Power Corporation from 2001 and as a vice-chairman from 2008. He was Chairman of PAI partners, a private equity fund management company, from 1998 to 2007, and was a member of the Executive Committee of BNP Paribas, one of Europe’s largest banks, until 2004.
He serves on the board of directors of several European-based companies, including Carrefour, Publicis, Suez Environnement, Imerys, Thales, Groupe Bruxelles Lambert, Pargesa, and BW Group. He joined the Paribas group in 1993 as a member of the Management Board of Banque Paribas and Compagnie Financière de Paribas. Before that, he held senior positions with Volvo Group, including as a member of the Management Board of AB Volvo in Sweden.
Mr. de Seze serves on the board of the Fondation Un Avenir Ensemble in France, whose mission is to assist students from economically disadvantaged environments and to facilitate first-time employment.
In 1991, he was named a Chevalier de l’Ordre national du Mérite (France) and, in 1996, an Officier de l’Ordre national de la Légion d’honneur (France). Mr. de Seze holds a degree from the Centre de Perfectionnement dans l’Administration des Affaires (CPA) in France, and he studied at the Stanford Graduate School of Business.
Director since 1999
Dr. Szathmáry is President Emeritus and a professor in the Department of Anthropology and the Department of Biochemistry and Medical Genetics at the University of Manitoba. She was President and Vice-Chancellor of the University of Manitoba from 1996 to 2008, Provost and Vice-President (Academic) of McMaster University in Hamilton from 1994 to 1996, and, before that, Dean of the Faculty of Social Science of the University of Western Ontario in London. Dr. Szathmáry is a director of Power Corporation and Power Financial as well as of several Power group companies in North America, including Great-West Lifeco, Great-West Life, London Life, Canada Life Financial, Canada Life, and Crown Life.
Dr. Szathmáry is a distinguished scholar, teacher, scientist, and administrator. She is a director of the International Institute for Sustainable Development, the Pierre Elliott Trudeau Foundation, and the CancerCare Manitoba Foundation. As well, she is a member of the Canadian Foundation for Innovation, and the Board of Governors of McMaster University. Dr. Szathmáry has also served as a director of numerous educational, research, and philanthropic not-for-profit organizations, including the St. Boniface General Hospital, the Manitoba Museum Foundation, the Manitoba Medical Service Foundation, the Prime Minister’s Advisory Committee on Science and Technology, and the Board of Governors of the University of the Arctic.
Dr. Szathmáry received a Bachelor of Arts (Honours) and a Ph.D. from the University of Toronto. In addition to receiving the Lieutenant Governor’s Medal for Excellence in Public Administration in Manitoba, she has been awarded five honorary doctorates in recognition of her research and contribution to higher education. Dr. Szathmáry is a Fellow of the Royal Society of Canada and a Member of both the Order of Canada and the Order of Manitoba.
The Corporation believes in the importance of good corporate governance and the central role played by directors in the governance process.
Power Financial’s Board of Directors is composed of seasoned professionals who bring their diverse experience to the table. This balance of skills and competencies results in the prudent, conservative oversight that has enabled the Corporation to deliver attractive long-term shareholder returns.
To learn more about our Board of Directors, click on the names to the left to view each director’s biography.