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Power Financial Corporation is a diversified management and holding company.
Power Financial Corporation's strategy is to own controlling interests in financial services companies with strong fundamentals: a low cost structure, competitive and strategically viable distribution channels, value-added products and a size that allows them to invest and develop profitably.
Power Financial has been an important participant in the consolidation of financial services in Canada . Its subsidiaries acquired London Life in 1997 for $2.95 billion, Mackenzie in 2001 for $4.1 billion and Canada Life in 2003 for $7.2 billion.
Power Financial has also sought to maintain a balance between Canadian and non-Canadian earnings, first through the American and European operations of Great-West Lifeco and second through its investment in Pargesa Holding S.A. (Pargesa), a European-based holding company. Pargesa group, holds significant positions in major media, energy, water, waste services, and specialty minerals companies.
Power Financial's goal is to provide superior long-term returns to shareholders.
Power Financial Corporation is a member of the Power Corporation of Canada group of companies. |
