Jeffrey Orr

Jeffrey Orr leads Power Corporation of Canada as CEO, managing the Montreal-based holding company controlled by the Desmarais family — one of Canada's most influential business dynasties. Power Corp's primary assets are its controlling stakes in Great-West Lifeco (one of the world's largest insurance and wealth management companies, with over $2.5 trillion in assets under administration, operating through brands including Canada Life, Empower Retirement, Irish Life, and Putnam) and IGM Financial (Canada's largest non-bank investment management company, operating through Mackenzie Investments and IG Wealth Management). Great-West Lifeco is the crown jewel: it provides life insurance, health insurance, retirement savings, and investment management services in Canada, the U.S. (where Empower is the second-largest retirement plan recordkeeper), Europe (particularly the UK and Ireland), and other markets. The 2023 acquisition of Putnam Investments strengthened Empower's investment management capabilities. IGM Financial manages approximately $270 billion in assets through its Mackenzie and IG Wealth Management platforms. Power Corp trades at a persistent holding company discount to the sum-of-parts value of its Great-West Lifeco and IGM Financial stakes — a common phenomenon for holding companies. Key stock drivers include Great-West Lifeco earnings and valuation, IGM Financial asset management flows, holding company discount trajectory, Canadian and U.S. insurance and retirement market conditions, Desmarais family capital allocation decisions, and the overall health of Canadian financial markets.