Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Meet the Next Generation of the Power Behind Putnam Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, August 23, 2016

Meet the Next Generation of the Power Behind Putnam

News summary by MFWire's editors

The Canadian family that controls the ultimate parent company of Putnam Investments [profile] is preparing to pass the reins to a third generation ... six to nine years from now.

Paul Desmarais Jr.
Power Corporation of Canada
Chairman and Co-Chief Executive Officer
The Wall Street Journal's Anupreeta Das and Kim Mackrael offer a rare glimpse at the Desmarais family behind Canadian multinational giant Power Corp. Paul Desmarais, billionaire founder, passed the reins to sons Paul Desmarais Jr. and Andre Desmarais in 1996. The elder Desmarais died in 2013, and now his sons (Paul Jr. is 62 and Andre is 59) reportedly "plan to retire at around 68" and pass the reins to their 34-year-old sons, Paul Desmarais III (son of Paul Jr.) and Olivier Desmarais (son of Andre).

In the U.S., the Power family includes Putnam, Great-West Investments, and retirement plan provider Empower.

The WSJ article notes that Andre and Paul Jr. have long divided up things like duties, areas of focus, and even socializing. And they aim for their sons to continue that tradition.

Anyone watching Putnam, Great-West, or Empower for the long-term should dig into the full article on "the clan ... sometimes described as the closest thing Canada has to business royalty." 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use