Power Financial Corporation

What Power Financial Corporation does

Power Financial Corporation is an international management and holding company headquartered at 751 Victoria Square, Montréal, Québec, Canada, operating since 1984 as a wholly-owned subsidiary of Power Corporation of Canada. The company holds controlling interests in financial services and asset management businesses operating in Canada, the United States, and Europe. Through Power Corporation, the group's principal operating exposures include Great-West Lifeco (68.6% owned; an international insurance, retirement, and asset management holding company operating under brands such as Canada Life, Empower Retirement, Putnam Investments, and Irish Life), IGM Financial (63.4% owned; a Canadian wealth and asset management company with approximately $270 billion in total AUM, operating IG Wealth Management, Mackenzie Investments, and Investment Planning Counsel), and GBL (17.1% owned through the 50/50 Parjointco joint venture; a European-based industrial holding company). The group also operates alternative asset management platforms Sagard (44.6% interest in SHMI) and PowerSustainable (73.0% interest in PSM, focused on sustainable investing).

The company generates revenue almost exclusively through dividends and earnings received from its parent, Power Corporation of Canada, which in turn consolidates dividends and earnings from its operating subsidiaries. Power Financial itself does not sell products or services to end customers, does not maintain a product pricing model, and does not engage in direct marketing to consumers. Its publicly traded capital instruments consist of multiple series of first preferred shares listed on the Toronto Stock Exchange (symbols include PWF.PR.A, PWF.PR.E, PWF.PR.F, PWF.PR.G, PWF.PR.H, PWF.PR.K, PWF.PR.L, PWF.PR.O, PWF.PR.P, PWF.PR.Q, PWF.PR.R, PWF.PR.S, PWF.PR.T, PWF.PR.Z, and PWF.PF.A), offering fixed and floating rate dividend options to retail and institutional preferred share investors. Investor relations activities are conducted via press releases, shareholder reports, and SEDAR+ regulatory filings, and the company is governed under the Canada Business Corporations Act.

The company's customer base is institutional and retail preferred share investors seeking diversified exposure to financial services businesses across multiple geographies, served indirectly through the holding structure. Recent strategic activity has focused on portfolio rationalization (the 2022/2023 ChinaAMC-to-IGM transaction and corresponding Great-West Lifeco share repurchase by Power Financial), preferred share capital structure management (Series Q-to-P conversion in February 2026, Series T rate reset in January 2024), and leadership succession (James O'Sullivan succeeding R. Jeffrey Orr as Power Corporation CEO effective July 1, 2026).

Name

Power Financial Corporation

Legal name

Power Financial Corporation

Website

https://powerfinancial.com

Company type

Public

Founded year

1984

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Power Financial Corporation is a Montréal-based international holding company and wholly-owned subsidiary of Power Corporation of Canada, with controlling stakes in Great-West Lifeco, IGM Financial, GBL, Sagard, and PowerSustainable across financial services and asset management in Canada, the US, and Europe.

Ownership category

akta.pro rank

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D

Revenue model

1. Dividend Income from Subsidiaries: Power Financial generates revenue primarily through dividends received from its wholly-owned subsidiary Power Corporation of Canada, which in turn holds controlling interests in publicly traded operating companies including Great-West Lifeco (68.6%), IGM Financial (63.4%), and GBL (17.1%). The company also holds significant holdings in alternative asset management platforms Sagard and PowerSustainable.

Distribution channels1 record

Marketing channels2 records

Core offering

Power Financial Corporation is an international management and holding company. Through its parent Power Corporation of Canada, it holds interests in financial services and asset management businesses in Canada, the United States, and Europe, including ownership stakes in Great-West Lifeco, IGM Financial, GBL, Sagard, and PowerSustainable. Its directly tradable offering is a series of first preferred shares listed on the Toronto Stock Exchange offering fixed and floating rate dividends.

Product overview

Power Financial Corporation is a wholly owned subsidiary of Power Corporation of Canada and operates as an international management and holding company focused on financial services and asset management. Rather than offering a single unified product, Power Financial's portfolio consists of dividend-paying preferred shares (multiple series with fixed and floating rate options) as its primary publicly traded instrument, while its parent company Power Corporation controls a diversified portfolio of publicly traded operating companies including Great-West Lifeco (68.6%), IGM Financial (63.4%), and GBL (17.1%), as well as alternative asset management businesses Sagard and PowerSustainable.

Differentiator

Problem solved

Functional benefit

Products and services

• Power Financial First Preferred Shares First preferred shares listed on the Toronto Stock Exchange under multiple series symbols (PWF.PR.A, PWF.PR.E, PWF.PR.F, PWF.PR.G, PWF.PR.H, PWF.PR.K, PWF.PR.L, PWF.PR.O, PWF.PR.P, PWF.PR.Q, PWF.PR.R, PWF.PR.S, PWF.PR.T, PWF.PR.Z, PWF.PF.A), offering fixed and floating rate dividend options to investors.
• Great-West Lifeco Subsidiary publicly traded operating company (68.6% owned by Power Corporation). International financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management, and reinsurance operating under brands including Canada Life, Empower Retirement, Putnam Investments, and Irish Life, with businesses across Canada, the United States, and Europe.
• IGM Financial Subsidiary publicly traded operating company (63.4% owned by Power Corporation). Diversified wealth and asset management company providing financial planning and investment management services through IG Wealth Management, Mackenzie Investments, and Investment Planning Counsel, with approximately $270 billion in total assets under management.
• GBL Subsidiary publicly traded operating company (17.1% ownership by Power Corporation through Parjointco, a 50%-owned jointly controlled corporation with a 47.8% voting interest in GBL). Belgian industrial holding company with a portfolio of global companies based in Europe.
• Sagard Alternative asset investment platform managed by Power Corporation with 44.6% ownership in SHMI as of March 31, 2026, investing in private equity and other alternative assets.
• PowerSustainable Alternative asset investment platform with 73.0% ownership by Power Corporation and 20.4% ownership by Great-West as of March 31, 2026, focused on sustainable investing.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered minor and core.

• China Asset Management Co., Ltd. (ChinaAMC)minorStrategic or Co-development Partner · 5 January 2022Power Corporation sold its 13.9% ownership stake in ChinaAMC to IGM Financial (through Mackenzie Financial Corporation) for $1.15 billion in January 2022. Following the transaction, IGM's equity ownership in ChinaAMC is 27.8%. ChinaAMC is one of the first fund management companies in China with total AUM of approximately RMB¥1.607 trillion at June 30, 2021.
• Great-West Lifeco Inc.coreStrategic or Co-development PartnerPower Corporation holds a 68.6% ownership interest in Great-West Lifeco as of March 31, 2026. Great-West Lifeco is an international financial services holding company operating under brands including Canada Life, Empower Retirement, Putnam Investments, and Irish Life, with businesses in life insurance, health insurance, retirement and investment services, asset management, and reinsurance across Canada, the United States, and Europe.
• IGM Financial Inc.coreStrategic or Co-development PartnerPower Corporation holds a 63.4% ownership interest in IGM Financial as of March 31, 2026. IGM Financial is one of Canada's leading diversified wealth and asset management companies providing financial planning and investment management services through IG Wealth Management, Mackenzie Investments, and Investment Planning Counsel.
• GBLcoreStrategic or Co-development PartnerPower Corporation holds a 17.1% ownership interest in GBL as of March 31, 2026, held through Parjointco, a jointly controlled corporation (50% ownership). Parjointco has a 47.8% voting interest in GBL. GBL is a European-based holding company with a portfolio of global companies.
• SagardcoreStrategic or Co-development PartnerSagard is Power Corporation's alternative asset management business platform. As at March 31, 2026, Power Corporation held a 44.6% interest in SHMI through Sagard. Sagard manages investments in private equity and other alternative assets.
• PowerSustainablecoreStrategic or Co-development PartnerPowerSustainable is Power Corporation's alternative asset management business focused on sustainable investing. As at March 31, 2026, Power Corporation held a 73.0% interest in PSM (PowerSustainable) with Great-West holding a 20.4% interest.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Manulife Financial Corporation: Major Canadian-headquartered international financial services holding company operating in insurance, retirement, and wealth management across Asia, Canada, and the U.S. Comparable end-market exposure and holding-company structure, though Manulife operates its businesses directly rather than through holding vehicles.
• Brookfield Asset Management Ltd. Larger Canadian-headquartered alternative asset management and holding platform. Comparable as a diversified financial holding company with significant exposure to alternatives and operating businesses across geographies, though much larger and alternatives-focused.
• Fairfax Financial Holdings Limited: Canadian holding company with insurance and reinsurance operations plus diversified equity investments. Comparable in being a Canadian-listed diversified financial holding company with international insurance and investment exposures.
• Sun Life Financial Inc. Canadian-headquartered international financial services holding company with insurance, wealth, and asset management operations across the Americas, Asia, and EMEA. Comparable business mix and international diversification profile to Power Financial's underlying portfolio.
• iA Financial Corporation Inc. Canadian insurance and wealth management holding company (Industrial Alliance). Comparable in combining insurance, wealth management, and investment operations under a holding company structure, primarily in Canada with growing U.S. presence.

Direct peers

• Great-West Lifeco Inc. Controlled operating subsidiary (68.6% via Power Corp) and sister entity. Lifeco is an international financial services holding company in life insurance, health insurance, retirement, asset management, and reinsurance — directly comparable in structure and end markets to Power Financial's portfolio role.
• Power Corporation of Canada: Direct parent and closest peer. Power Corporation holds the same core portfolio of financial services operating companies (Great-West Lifeco, IGM Financial, GBL) through a cross-holding structure with Power Financial, and shares the same international management and holding business model.
• Groupe Bruxelles Lambert (GBL): Belgian-listed holding company in which Power Corp holds a 17.1% effective stake through Parjointco. GBL is a European industrial/financial holding company investing in global listed and private companies, directly comparable in business model and operating geography to Power Financial's European exposure.
• IGM Financial Inc. Controlled operating subsidiary (63.4% via Power Corp). IGM is a Canadian diversified wealth and asset management company (IG Wealth Management, Mackenzie Investments, IPC) with ~$270B AUM, providing direct comparability on the wealth management holding-company model.

Others

• Toronto-Dominion Bank (TD Bank): Large Canadian diversified financial services conglomerate offering retail banking, wealth management, and insurance. Adjacent comparable for the diversified Canadian financial services business model that Power Financial's portfolio companies compete against, though TD is an operating bank rather than a pure holding company.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/user/PowerCorpCanada
• LinkedInlinkedin.com/company/power-financial-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments9 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Power Financial Corporation