Power Corporation of Canada is a Canadian management and holding company with interests primarily in financial services across North America, Europe and Asia. Its core holdings include insurance, retirement, wealth management and investment management, alongside holdings in alternative investment platforms.[3]
History
Power Corporation of Canada was formed in 1925 by stockbrokers Arthur J. Nesbitt and Peter A.T. Thomson with Nesbitt serving as its first president. Power Corporation was created as a holding company to oversee investments in public utility businesses, particularly those operating in the electrical power industry in Quebec's Eastern Townships, and other Canadian provinces, including Ontario, Manitoba, New Brunswick and British Columbia. During the late 1930s, the company expanded its controlling interest in Bathurst Pulp and Paper Company Ltd., and in 1938, Canadian Oil Companies Ltd., selling the latter to Shell Oil Company in 1962.
In 1952, Arthur J. Nesbitt was succeeded as president by his son,