Desmarais family companies

Paul desmarais iii wife

Paul Desmarais Sr. He then continued to serve as a director and as chairman of the executive committee of the board, and remained the controlling shareholder. Power Corporation of Canada is a diversified international management and holding company with interests in companies in the financial services, asset management, sustainable and renewable energy, and other business sectors.

Desmarais was highly regarded for his standard of integrity and his commitment to a united and prosperous Canada. Desmarais was married to Jacqueline Maranger, also from Sudbury.

Nicolas desmarais

They had two sons: Paul Jr. The area of the estate is over 75 square kilometers. Desmarais was a philanthropist, making substantial contributions many anonymously to the arts, education, health and the homeless. At the time of M. After graduating from the University of Ottawa , Desmarais went to Osgoode Law School [ 16 ] until he began working for Sudbury Bus Lines Limited, the restructured bus company formed from the remnants of the Sudbury and Copper Cliff Suburban Electric Railway his grandfather had founded.

The company was sold to him for a symbolic 1 CAD, because it was almost insolvent. That year TCCF made a share-exchange offer with Power Corporation of Canada, headquartered in Montreal, Quebec, whereby Paul Desmarais became chairman and chief executive officer and controlling shareholder. He founded the Canada China Business Council in Taking advantage of the substantial investment of Power Corporation of Canada , Desmarais took control of a large pulp and paper company, Consolidated Bathurst built since in Stone-Consolidated, then merged with Abitibi-Price Inc.

At the same time, under the leadership of Desmarais, Power Corporation of Canada continued to acquire control positions in Great-West Life and Investors Group which formed the basis of Power Financial Corporation which was founded in The two men discovered an alter ego, applying the same financial techniques: a friendly investment in substantial firms, some of which were experiencing financial hardship.