Board of Directors
André Desmarais

Mr. Desmarais has been a director of Power Financial since 1988, and currently serves as Deputy Chairman. He previously served as President and Co-Chief Executive Officer of Power Corporation from 1996 until his retirement in February 2020. He was also Executive Co-Chairman of Power Financial until 2020. 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 also serves as Deputy Chairman of Power Corporation and is a director of many Power Corporation group companies, including Great-West Lifeco, Canada Life, Empower Retirement, Putnam Investments, IGM Financial, IG Wealth Management and Mackenzie. He is also a director of Power Corporation. He is director and Vice-Chairman of Pargesa in Europe.

Over the years, cultural, health, and other not-for-profit organizations have benefitted from his commitment, 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, the Montreal General Hospital, Leucan, the Canadian Red Cross, the Canadian Cancer Society, Centraide of Greater Montreal and the Jean Paul Riopelle Foundation. He is Chairman 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 the Trilateral Commission and several China-based organizations.

He holds a Bachelor of Commerce from Concordia University and received honorary doctorates from Concordia University, Université de Montréal and McGill University. In 2003, he was made an Officer of the Order of Canada and, in 2009, an Officer of the National Order of Québec.

Paul Desmarais, Jr.

Mr. Desmarais has been a director of Power Financial since 1988, and currently serves as Chairman. He previously served as Co-Chief Executive Officer of Power Corporation from 1996 until his retirement in February 2020. He was also Executive Co-Chairman of Power Financial until 2020. 

He joined Power in 1981 and assumed the position of Vice-President the following year. In 1984, he led the creation of Power Financial to consolidate Power’s major financial holdings, as well as Pargesa Holding SA, under a single corporate entity. Mr. Desmarais served as Vice-President of Power Financial from 1984 to 1986, as President and Chief Operating Officer from 1986 to 1989, as Executive Vice-Chairman from 1989 to 1990, as Executive Chairman from 1990 to 2005 and as Chairman of the Executive Committee from 2006 to 2008. He also served as Vice-Chairman of Power Corporation from 1991 to 1996.

After Power Financial and the Frère Group of Belgium took control of Pargesa in 1990, Mr. Desmarais moved to Europe from 1991 to 1994, to develop the partnership with the Frère Group and to restructure the Pargesa group. From 1982 to 1990, he was a member of the Management Committee of Pargesa, in 1991, Executive Vice-Chairman and then Executive Chairman of the Committee; from 2003 to 2019, he was Co-Chief Executive Officer and he was named Chairman of the Board in 2013. He has been a director of Pargesa since 1992.

He also serves as Chairman of Power Corporation and is a director of many Power Corporation group companies in North America, including Great-West Lifeco, Canada Life, Empower Retirement, Putnam Investments, IGM Financial, IG Wealth Management and Mackenzie. In Europe, he is Chairman of the Board of Groupe Bruxelles Lambert, and a director of LafargeHolcim and SGS. He was a director of Total until 2017.

Mr. Desmarais is Chairman of the Board of Governors of The International Economic Forum of the Americas (Canada), a Trustee of The Brookings Institution, Co-Chair of the Brookings International Advisory Council and a member of the Brookings Executive Committee (Washington), a member of the Global Board of Advisors of the Council on Foreign Relations (United States), a member of the Global Advisory Council of Harvard (United States), a member of The Business Council (United States) and of The Business Council of Canada. He is also active on a number of philanthropic advisory councils.

In 1994, he received the Insigne d’Officier de l’Ordre de la Couronne of Belgium. In 2005, he was named an Officer of the Order of Canada and he received the Executive of the Year Award from the Academy of International Business. In 2009, he was named an Officer of the Ordre national du Québec and in 2012, Chevalier de la Légion d’honneur in France. He holds a number of honorary doctorates.

He obtained a Bachelor of Commerce degree from McGill University and an MBA from the European Institute of Business Administration (INSEAD), France.

Gary A. Doer

Mr. Doer is Senior Business Advisor to the law firm Dentons Canada LLP since August 2016. Previously, he served as Canada’s Ambassador to the United States from October 2009 to January 2016. He served as the 20th Premier of Manitoba from 1999 until 2009. He was elected a member of the Legislative Assembly of Manitoba in 1986 and during his tenure also served as Minister of Urban Affairs and as Minister of Crown Investments. From 1979 to 1986, Mr. Doer was the President of the Manitoba Government Employees’ Association. 

Mr. Doer is a director of Power Corporation, Great-West Lifeco, Canada Life, Empower Retirement, Putnam Investments, IGM Financial, IG Wealth Management and Mackenzie. He also serves on the Board of Directors of Air Canada. He served on the Board of Directors of Barrick Gold Corporation until 2018.

He serves as volunteer Co-Chair of the Wilson Centre’s Canada Institute, a non-partisan public policy forum focused on Canada-United States relations. In 2010, Mr. Doer became a Member of the Order of Manitoba and, in 2011, he received a distinguished diplomatic service award from the World Affairs Council. 
 

R. Jeffrey Orr

Mr. Orr has been President and Chief Executive Officer of the Corporation since 2005. He was appointed President and Chief Executive Officer of Power Corporation in February 2020.

He has extensive experience in the financial services industry, including the past two decades in executive positions in Power group companies. From 2001 to 2005, he was President and Chief Executive Officer of IGM Financial. Prior to joining IGM Financial, he was Chairman and Chief Executive Officer of BMO Nesbitt Burns and Vice-Chair, Investment Banking Group, Bank of Montreal. He had been with BMO Nesbitt Burns and predecessor companies since 1981. 

He serves as a director of Power Corporation and is also a director and Chairman of a number of Power Corporation subsidiaries, including Great-West Lifeco, Canada Life, Empower Retirement, Putnam Investments, IGM Financial, IG Wealth Management and Mackenzie.

Mr. Orr is active in various community and business organizations. He holds a Bachelor of Arts — Honours Business Administration (HBA) degree from the Richard Ivey School of Business in London, Ontario.

T. Timothy Ryan, Jr.

Mr. Ryan is a company director. He was Managing Director, Global Head of Regulatory Strategy and Policy of JPMorgan Chase & Co., a global financial services firm, until 2014. 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.

He is a director of many Power group company in North America, including Power Corporation, Great-West Lifeco, Canada Life, Empower Retirement and Putnam Investments, having previously served as a director of Power Corporation and Power Financial from 2011 to 2013 and of Great-West Lifeco and some of its subsidiaries from 2010 to 2013. He is Chairman of the board of Santander Holdings U.S.A., Inc., Santander Bank, N.A. and Banco Santander International. He has served as a director of Markit Group Limited and of Lloyds Banking Group. 

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.

Siim A. Vanaselja

Mr. Vanaselja is a company director. He served as Executive Vice-President and Chief Financial Officer of BCE Inc. and Bell Canada, from 2001 to 2015. Prior to joining BCE, he was a Partner with KPMG Canada in Toronto. Mr. Vanaselja is a Director of Great-West Lifeco and Canada Life. He is also a Director and Chair of the Board of TC Energy 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 has been an active fundraiser for a number of community organizations including St. Mary's Hospital Foundation, Big Brothers and Big Sisters of Toronto, Heart and Stroke Foundation of Quebec, Royal Victoria Hospital and the Annual Walk for Kids Help Phone.

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.

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