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Paul Desmarais, financier (b at Sudbury, Ont 4 Jan 1927). After studying at U of O and McGill, Desmarais worked for Courtois, Fredette et Cie, a Montréal accounting firm, 1945-51; he then returned to Sudbury to run his father's bus company. In 1961 he gained control of Provincial Transport, a sizable passenger-transport company. In 1965 he bought his first conglomerate, Trans-Canada Corp Fund, through which he gained control of the major French-language newspaper La Presse (Montréal), the major francophone radio station CKAC, a large assurance company (Imperial Life, Toronto) and several other daily and weekly newspapers.
In 1968 he took control of POWER CORP OF CANADA; one of the major conglomerates in Canada, Power Corp now includes the principal mutual fund in Canada (Investors Group), one of the largest trust funds (Montreal Trust), the fourth-largest paper company in the country (Consolidated-Bathurst), the second-largest life-assurance company (Great-West Life Co, Winnipeg) and several other Canadian and European firms. In 1987 Desmarais sat on the boards of 15 companies other than Power Corp. Desmarais and Conrad BLACK engineered a takeover of Southam Inc in 1992. He was made a Companion of the Order of Canada in 1987.
Author
JORGE NIOSI
Suggested Reading
D. Grebes, Rising to Power (1987).
Links to Other Sites
Power Corporation of Canada
The Power Corporation of Canada is a leading management and holding company with interests in financial services, communications and other sectors. This website features a corporate history, investor information and an overview of its diverse operations in Canada and around the world.
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