Senior Management

Power Financial’s senior management team continually strives for excellence in crafting and executing the Corporation’s strategy. The team’s vision, entrepreneurial approach and leadership has resulted in significant value for shareholders over the long term.

 

Paul Desmarais, jr

Mr. Desmarais is Executive Co-Chairman of Power Financial and Chairman and Co-Chief Executive Officer of Power Corporation. 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, as Chairman of the Executive Committee from 2006 to 2008 and as Executive Co-Chairman from 2008 until today. He also served as Vice-Chairman of Power Corporation from 1991 to 1996. He was named Chairman and Co-CEO of Power Corporation in 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; in 2003, he was appointed Co-Chief Executive Officer and in 2013 named Chairman of the Board. He has been a Director of Pargesa since 1992.

He is a director of many Power group companies in North America, including Power Corporation, Great-West Lifeco, Great-West Life, Great-West Life & Annuity, London Life, Canada Life Financial, Canada Life, Putnam Investments, IGM Financial, Investors Group and Mackenzie. In Europe, he is Vice-Chairman of the Board of Groupe Bruxelles Lambert, and a director of Total, LafargeHolcim and SGS.

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 Business Council (United States) and immediate Past Chairman and a member 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 a MBA from the European Institute of Business Administration (INSEAD), France.

André Desmarais

Mr. Desmarais is Executive Co-Chairman of Power Financial and Deputy Chairman, President, and Co-Chief Executive Officer of Power Corporation. 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 Financial group companies in North America, including Great-West Lifeco, Great-West Life, Great-West Life & Annuity, London Life, Canada Life Financial, Canada Life, Putnam Investments, IGM Financial, Investors Group, and Mackenzie Financial. He is also a director of Power Corporation. He is a director and Vice-Chairman of Pargesa in Europe.

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, and Centraide of Greater Montreal. 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 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.

R. Jeffrey Orr

Mr. Orr was appointed President and Chief Executive Officer of Power Financial in 2005. He also serves as a Director of Power Corporation and is a Director and Chairman of a number of Power Financial subsidiaries, including Great-West Lifeco, London Life, Canada Life, Putnam Investments, IGM Financial, Investors Group, and Mackenzie Financial. 

Mr. Orr was President and Chief Executive Officer of IGM Financial Inc. from 2001 until 2005. 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. Mr. Orr had been with BMO Nesbitt Burns since 1981. 

Mr. Orr is active in a number of 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.

Michel Plessis-Bélair

Mr. Plessis-Bélair has been Vice-Chairman of Power Financial since 2012 and of Power Corporation since 2008. Previously, he was Executive Vice-President and Chief Financial Officer of Power Financial and Vice-Chairman and Chief Financial Officer of Power Corporation.

He is a director of several Power group companies in both Europe and North America, including Pargesa, Groupe Bruxelles Lambert, and La Presse ltée. He is also a director of Lallemand Inc. He was a director of Great-West Lifeco, Great-West Life, Great-West Life & Annuity, London Life, Canada Life Financial and Canada Life until 2016.

Mr. Plessis-Bélair is a Fellow of the Québec Order of Chartered Professional 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.

Henri-Paul Rousseau

Mr. Rousseau has been Vice-Chairman of Power Financial and of Power Corporation since 2009. He is 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, IGM Financial, Investors Group, Mackenzie Financial and Putnam Investments.

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.  He is a Director of Santander Bank N.A. He was a member of the board of directors of the Global Financial Markets Association until 2014.

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 (in France), Université Laval, and Université de Sherbrooke. In 2006, he was named a “Great Montrealer” by the Board of Trade of Metropolitan 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. Mr. Rousseau is Co-Founder of QG100, a network of Québec companies of global scope, and Founding President of the Shape Up Foundation, which encourages the adoption of healthy lifestyle habits at summer camps in Canada.

Amaury De Seze

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, 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. He was also a director of Thales (from 2009 to 2013), of Publicis (from 1998 to 2016) and of Imerys (from 2009 to 2016).

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.

Gregory D. Tretiak

Mr. Tretiak was appointed Executive Vice-President and Chief Financial Officer of Power Financial and Power Corporation in May 2012. He is a director of Power Financial’s subsidiary companies Great-West Lifeco and IGM Financial and a number of their subsidiaries.

Mr. Tretiak joined Investors Group in 1988 and was Executive Vice-President and Chief Financial Officer of IGM Financial until 2012. In this role, he was responsible for all financial functions at IGM Financial and its subsidiaries: Investors Group, Mackenzie Financial and Investment Planning Counsel.

He holds a Bachelor of Arts in Economics and Political Science from the University of Winnipeg and is a Chartered Accountant, a Fellow of the Institute of Chartered Accountants of Manitoba and a Certified Financial Planner.

Throughout his career, Mr. Tretiak has been an active member in professional industry groups including the Institute of Chartered Accountants, Financial Executives International, the Certified Financial Planners, and the Institute of Internal Auditors. He has served with national organizations such as the Investment Funds Institute of Canada, the Canadian Chamber of Commerce Economic and Taxation Committee and the Canadian Institute of Chartered Accountants.

Mr. Tretiak is actively involved in a number of community-based organizations.

Claude Généreux

Mr. Généreux was appointed Executive Vice-President of Power Financial and Power Corporation in 2015. He is a Director of Power Financial’s subsidiary companies, Great-West Lifeco and IGM Financial and a number of their subsidiaries.

Mr. Généreux is Director Emeritus of McKinsey & Company, a global management consulting firm. During his 28 years with the firm, he focused on serving leading global companies in the Financial Services, Energy and Resources sectors. He has held various leadership positions including Global Sector Leadership in energy, Office Leadership in Montréal, Global Personnel Committees for partner election and evaluation, and Global Recruiting for non-MBA candidates. Mr. Généreux helped launch McKinsey’s office in Montréal in 1991 and was also posted in its Paris, Toronto and Stockholm offices. 

He serves as the Vice-Chair of the Board of Governors at McGill University and is a Board member of the Jeanne Sauvé Foundation and the Loran Scholars Foundation. He is also a member of the Advisory Board for the joint E-MBA program at McGill and HEC. He has received the Queen Elizabeth II Golden Jubilee Medal for outstanding and exemplary contributions to his community. 

Mr. Généreux graduated from McGill University and Oxford University, where he studied as a Rhodes Scholar.

Arnaud Vial

Mr. Vial joined the Power group of companies in 1997 and currently serves as Senior Vice-President of Power Financial and of Power Corporation. He is involved in various investments in Canada, Europe and Asia. He has also been Managing Director of Pargesa Holding since June 1, 2013.

Mr. Vial began his career in 1977 with Banque Paribas (Paris). He joined the Pargesa group in 1988, starting at Parfinance S.A. in Paris and then with Pargesa Holding in 1993.

Mr. Vial graduated from the École supérieure d’Électricité in Paris. He serves on the Board of Directors of several companies, including Pargesa Holding, Groupe Bruxelles Lambert and Imerys. He was a director of Sagard Capital Management until 2015.

Olivier Desmarais

Mr. Desmarais was appointed Vice-President of Power Financial and Power Corporation in May 2014. Prior to his current position, he was Director of Business Development at Square Victoria Digital Properties. From 2010 to 2013, he worked as an Associate at Putnam Investments. While completing his Law degree, Mr. Desmarais was an articling student at Heenan Blaikie LLP and also worked as an analyst at Pandion Investments.

In May 2014, Mr. Desmarais was named a director of Great-West Life, Investors Group, Mackenzie, Square Victoria Communications Group, Gesca ltée and La Presse ltée. He was appointed Chairman of Power Energy Corporation in April 2015.

Mr. Desmarais holds a Bachelor of Civil Law degree from the University of Ottawa and a Bachelor of Arts in Sociology and Political Science from McGill University. He has been member of the Québec Bar since 2009.

Paul Desmarais III

Mr. Desmarais was appointed Vice-President of Power Financial and Power Corporation in May 2014. Prior to his current position, he was Assistant Vice-President in the Risk Management Group of Great-West Lifeco beginning in 2012. Previously, he worked in project management and corporate strategy at Imerys in France. He began his career in 2004, working for five years with Goldman Sachs in the United States, in the Investment Banking and Investment Strategy Groups, as well as in the Special Situations Group.

In May 2014, Mr. Desmarais was named a director of Great-West Life, Investors Group, Mackenzie, Pargesa and Groupe Bruxelles Lambert. He is also Chairman of Sagard Capital and Wealthsimple, and Vice-Chairman of Imerys.

In 2000, he was awarded the Duke of Edinburgh’s Award (Gold Level). Mr. Desmarais is the Founder and Honorary Chairman of Young Canadians in Finance, which provides young professionals working in the private and public financial sectors an exclusive network that enables them to assume leading roles in this field. He served as Co-Chair of the True Patriot Love 2014 Arctic Expedition to the Magnetic North Pole. He also sits on the Board of Directors of The Next 36, an organization that fast tracks the development of Canada’s most talented young innovators, turning them into the country’s outstanding future business leaders and innovators. Mr. Desmarais is also a Chair of the Kenojuak Cultural Centre and Print Shop campaign.

Mr. Desmarais is the recipient of a Bachelor of Arts degree in Economics from Harvard College (graduating cum laude) and he holds a Masters in Business Administration from INSEAD in France.

Jocelyn Lefebvre

Mr. Lefebvre has been Managing Director for Europe since 1992 and, during that period, he played a significant role in the financial and industrial transformation of Pargesa, the European investment arm of Power.

He is also a founding partner and a member of the Investment Committee of the European private equity firm Sagard, sponsored by Power Corporation in co-operation with a small group of industrial and influential entrepreneurial families and renowned financial institutions.

Mr. Lefebvre has over 30 years of industrial and financial experience with numerous prominent organizations. He began his career with Arthur Andersen in Montréal, before moving to Europe in 1982. He joined the Canadian manufacturing group M.I.L. Inc. in 1986, where he held a number of senior executive positions, whilst also assuming until 1991 the Chief Executive Officer role at Vickers Inc., one of the group’s larger operating units.

Mr. Lefebvre graduated from the École des Hautes Études Commerciales (HEC) in Montréal. He is a member of the Canadian Chartered Professionnal Accountants Association.

Denis Le Vasseur

Mr. Le Vasseur joined the Power group of companies in 1992 and currently serves as Vice-President and Controller of Power Financial and of Power Corporation.  His responsibilities include financial reporting, budgeting, taxation and information technology.

Mr. Le Vasseur began his career in 1982 with Touche Ross, a predecessor firm of Deloitte & Touche, specializing in the audit of large holding companies. He also worked on various consulting assignments in the field of mergers and acquisitions.

Mr. Le Vasseur earned a Bachelor of Science in Mathematics and an MBA from McGill University, and obtained his Chartered Accountant designation in 1985. He serves on the board of directors of the On the Tip of the Toes Foundation, an organization that helps teenagers living with cancer regain their self-esteem and sense of pride through wilderness adventure therapy.

Stéphane Lemay

Mr. Lemay was appointed Vice-President, General Counsel, and Secretary of Power Financial and Power Corporation in August of 2012. Mr. Lemay joined Power Corporation of Canada as Vice-President, Assistant General Counsel, and Associate Secretary in 2005 and assumed the same position at Power Financial in 2009. He is also responsible for corporate social responsibility initiatives at both companies, in addition to being the media spokesperson.

Mr. Lemay began his career with the law firm Byers Casgrain, now Dentons, where he worked in commercial litigation for five years. He subsequently held the position of Policy Advisor, Economic Development, in the Office of the Prime Minister of Canada from 1997 to 1999. Mr. Lemay then returned to the private sector in Montréal, serving in a number of executive positions in legal, regulatory and public affairs with companies within the Telesystem Group. He then joined Gildan Activewear Inc., a leading sportswear manufacturer, where he was Vice-President of Public and Legal Affairs and Secretary until 2005. 

Mr. Lemay is active in a number of not-for-profit organizations and community initiatives. He launched Étudiants dans la course – Students In the Running in 2009 and remains still very much involved in the organization as Chair of the Board. It is a program that trains students from at-risk neighbourhoods of Montréal to run the annual Montréal Oasis Marathon. The program has been a success so far, and has positively impacted the lives of many young people. Mr. Lemay is also a member of the Board, Secretary and Chair of the Human Resources Committee of the Society for the Celebrations of the 375th Anniversary of Montréal.

Fabrice Morin

Mr. Morin was appointed Vice-President at Power Financial and Power Corporation in May, 2016.

Prior to joining Power Financial, Mr. Morin has held a variety of positions with global consulting firm McKinsey & Company since 2002. Most recently, he was a partner, a leader of the firm’s Canadian financial services practice and a leader of its global wealth and asset management practice. In this role, he provided strategic advice to large financial institutions in Canada, in the U.S. and internationally. Mr. Morin has experience in a variety of business disciplines including strategy, acquisitions, post-merger management, operations and organization. He is the author of a number of McKinsey’s industry publications and articles.

Mr. Morin has a Bachelor degree in Industrial Engineering with Honours from École Polytechnique de Montréal and holds a Master degree in Business Administration with Distinction from the Harvard Business School.

Mr. Morin is an active community volunteer working with organizations such as Young Canadians in Finance in Montréal and with the Montreal Heart Institute.

Richard Pan

Mr. Pan is currently Vice-President and Head of Corporate Finance and is responsible for strategic and corporate planning at Power Financial and at Power Corporation.

Before joining Power in 2008, Mr. Pan was an Executive Director in Investment Banking with Goldman Sachs International based in London, England. In this capacity, he specialized in Energy and Private Equity and was a member of the Global National Resources group. He was previously a member of the U.K. Advisory group, specializing in mergers & acquisitions. 

Mr. Pan is a Rhodes Scholar and holds a Master of Philosophy in International Relations from Balliol College at Oxford University and a Bachelor of Arts (Honours) in Economics from the University of Western Ontario. His secondary education was at the University of Toronto Schools.

He is active in the community, with particular interests in education and the arts. He currently serves on the Board of Directors of Desautels Capital Management, the Opéra de Montréal and the Centaur Theatre. He is also Secretary of the Rhodes Scholarship Selection Committee for Québec and a Director of the Canadian Rhodes Scholars Foundation.

Luc Reny

Mr. Reny has been Vice-President of Power Corporation since 2005 and Vice-President of Power Financial since 2009. Currently, he is responsible for human resources and compensation matters as well as real estate management and various aspects of Power’s operations. He joined Power Corporation in 1989 as a financial analyst and was subsequently named Executive Assistant to the President. In 1995, he was appointed Director of Administration.

He began his career in 1983 at the Caisse de dépôt et placement du Québec, where he worked as a financial analyst in the Asset Management and Equity Markets departments until 1989.

He is a member of the Consultative Committee of Square Victoria Communications Group and a member and President of the board of directors of NAPEC Inc.

Over the years, he has participated in many fundraising activities for various charitable organizations. He currently serves on the boards of the Fondation Armand-Frappier, the Fondation Jean-Monbourquette and the Fondation Baxter & Alma Ricard. 

Mr. Reny holds a Bachelor of Commerce from Université Laval and an Executive MBA from Université de Sherbrooke. He earned his Chartered Financial Analyst (CFA) designation from the CFA Institute in Virginia, United States.

Philippe Martin

Mr. Martin was appointed Treasurer of Power Financial and Power Corporation in March 2015, and is also responsible for investor relations. He joined Power Corporation in 2009 as a Senior Financial Analyst in the Corporate Finance group.

Prior joining Power Corporation, Mr. Martin was an Associate at a Canadian private equity firm, where he was responsible for the evaluation, execution and management of middle-market private equity investments. Previously, he worked in the Investment Banking division of BMO Capital Markets where he was involved in various restructuring transactions as a member of the Diversified Industries group. 

Mr. Martin holds a Bachelor of Business Administration in Finance from HEC Montréal.

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