Paul Desmarais, III of Power Financial and Power Corporation is on Wealth Professional Canada's Hot List of 2015.
Prior to his current position as VP at Power, Desmarais was assistant vice president in the risk management group at Great-West Lifeco; he previously worked in project management and corporate strategy at Imerys in France. He began his career in 2004 with Goldman Sachs in the US, in the investment banking and investment strategy groups. In May 2014, Desmarais was named a director of Power Financial holdings, including Great-West Life, Investors Group, Mackenzie, Pargesa, Groupe Bruxelles Lambert and Imerys.
As the progeny of the Power founder Paul Desmarais Sr., the younger Desmarais now has the chance to take Canada’s largest non-bank financial company into the future. And it seems Power is getting its mojo back. The company recently announced it is raising its dividend by 6.4% for the first time since 2008. Power also just made an interesting deal with the small start-up Wealthsimple, proving the massive company can still move nimbly. If it’s a fresh, young perspective that Power needs, Desmarais III can provide it. He is also the founder and honourary chairman of Young Canadians in Finance and sits on the board of directors of The Next 36, an organization dedicated to fast-tracking the development of Canada’s most talented young innovators.
As the progeny of the Power founder Paul Desmarais Sr., the younger Desmarais now has the chance to take Canada’s largest non-bank financial company into the future. And it seems Power is getting its mojo back. The company recently announced it is raising its dividend by 6.4% for the first time since 2008. Power also just made an interesting deal with the small start-up Wealthsimple, proving the massive company can still move nimbly. If it’s a fresh, young perspective that Power needs, Desmarais III can provide it. He is also the founder and honourary chairman of Young Canadians in Finance and sits on the board of directors of The Next 36, an organization dedicated to fast-tracking the development of Canada’s most talented young innovators.
