Paul Desmarais Jr.

Early Life and Education

Paul Desmarais Jr. was born on 3 July 1954 in Sudbury, Ontario, into a prominent Canadian family as the eldest son of billionaire financier Paul Desmarais Sr. and Jacqueline Desmarais. He was raised in the Roman Catholic faith and completed his secondary education at the prestigious Lakefield College School in Lakefield, Ontario. For his post-secondary studies, he first attended McGill University before completing a Master of Business Administration degree at the renowned INSEAD business school in France. This international education provided a strong foundation for his subsequent career in global finance and corporate leadership.

Business Career at Power Corporation

Paul Desmarais Jr. began his professional career with positions at S.G. Warburg & Co. in London and Standard Brands Incorporated in New York before formally joining the family business in 1981. He was appointed Vice-President of Power Corporation of Canada the following year and in 1984 led the creation of Power Financial Corporation, a major corporate initiative. He held a series of executive roles at Power Financial, progressing from Vice-President to President and Chief Operating Officer, and ultimately to Executive Chairman, shaping the company's strategic direction for decades. Within the parent Power Corporation, Desmarais served as vice-chairman from 1991 to 1996 before being named chairman and co-chief executive officer in 1996, sharing leadership with his brother, André Desmarais. He remained as chairman of the board, continuing to play an active governance role in the corporation's affairs. In 2016, The Wall Street Journal reported that Desmarais and his brother were preparing the next generation for future leadership, specifically their sons Paul Desmarais III and Olivier Desmarais. This long-term planning highlights the family's ongoing influence and the structured succession within one of Canada's most significant corporate entities.

Corporate Directorships and Governance

Through his role at Power Corporation, Paul Desmarais Jr. holds or has held influential positions on the boards of its major subsidiary companies, serving as chairman of both Power Corporation and Power Financial. His key board roles within the group include directorships at Great-West Lifeco Inc., Canada Life, Empower Retirement, Putnam Investments, IGM Financial Inc., IG Wealth Management, and Mackenzie Investments, which form the core of the corporation's financial services holdings. His international board involvement has been extensive, particularly in Europe, where he has held leadership and directorial positions at several major firms. This network of directorships reflects the global reach and interconnected nature of the Desmarais family's business interests.

• Chairman of Groupe Bruxelles Lambert, a Belgian investment holding.
• Director of Pargesa Holding SA, a Swiss holding company.
• Director of SGS, the Swiss testing and inspection firm.
• Vice-chairman and director of Imerys, a French industrial minerals company, from 1998 to 2008.
• Director of GDF Suez (now Engie) in France from 2008 to 2014.
• Director of Total, the French energy giant, until 2017.

He is chairman of the board of governors of the International Economic Forum of the Americas, which holds four annual conferences including the Conference of Montreal. He is a member of The Business Council of Canada and The Business Council in the United States. He is a trustee of the Brookings Institution, co-chair of the Brookings International Advisory Council, and a member of the Brookings Executive Committee. He is a member of the Global Board of Advisors of the Council on Foreign Relations. He is also a member of the Global Advisory Council of Harvard University.

Philanthropy and Community Engagement

Paul Desmarais Jr. has a long and dedicated record of philanthropic leadership, particularly focused on social welfare and environmental causes in Canada, with his involvement with Centraide of Greater Montréal being especially notable. In 1997, he founded the Major Donors Circle to engage high-net-worth individuals in charitable giving and served as its honorary chairman for two decades until 2017. In recognition of his sustained contributions to fighting poverty and social exclusion, he was named the first Governor Emeritus of Centraide in 2017 and received the Michèle Thibodeau-DeGuire Award in 2018 for his outstanding support. He has also been a significant supporter of healthcare, serving as one of the honorary chairs for the "Healing More Better" campaign of the CHU Sainte-Justine Foundation, which aims to advance paediatric care.

In 2014, Desmarais participated in a ski expedition to the North Magnetic Pole organized by True Patriot Love, Canada's largest charity supporting military families. The goal of the expedition was to raise awareness of the physical and mental injuries that continue to impact Canadian soldiers. He was co-chair of "A Force of Nature", a national campaign of Nature Conservancy Canada from April 1, 2007 to December 31, 2012. The national campaign raised more than $500 million and protected 752,000 acres of at-risk natural habitat across Canada, home to more than 145 species at risk.

Honours and Recognition

Paul Desmarais Jr. has received numerous national and international honours. In 2005, he was made an Officer of the Order of Canada. In 2009, he was made an Officer of the National Order of Quebec. In 2012, he was named Chevalier de la Légion d'honneur in France. In 1994, he received the Insigne d'Officier de l'Ordre de la Couronne in Belgium. He has also received several honorary doctoral degrees from major Canadian universities including Université Laval, Université de Montréal, University of Manitoba, and McMaster University.

• 1992: 125th Anniversary of the Confederation of Canada Medal
• 1994: Insigne d'Officier de l'Ordre de la Couronne (Belgium)
• 2002: Queen Elizabeth II Golden Jubilee Medal
• 2005: Officer of the Order of Canada
• 2005: Executive of the Year Award from the Academy of International Business
• 2005: Named a Great Montrealer by the Board of Trade of Metropolitan Montreal
• 2006: Doctorat Honoris Causa, Université Laval
• 2008: Doctorat Honoris Causa, Université de Montréal
• 2009: Officer of the National Order of Quebec
• 2012: Queen Elizabeth II Diamond Jubilee Medal and Chevalier de la Légion d'honneur (France)
• 2018: Outstanding Philanthropist Award from the Association of Fundraising Professionals
• 2019: Honorary degree from the University of Manitoba
• 2019: Honorary degree from McMaster University

Personal Life

Desmarais is married to Hélène Desmarais, chairman of the board and CEO of the Centre d'entreprises et d'innovation de Montréal. In August 2016, The Wall Street Journal stated that Desmarais and his brother André were readying their sons to take over Power Corporation. He retired from the functions of co-CEO of Power Corporation in February 2020. As of 2021, he continued to play an active role in the governance of Power Corporation as chairman of its board of directors.

Questions about Paul Desmarais Jr.

What is Paul Desmarais Jr.'s role at Power Corporation?

Paul Desmarais Jr. is the chairman of Power Corporation of Canada. He was named chairman and co-CEO of Power Corporation in 1996. On February 13, 2020, he retired from the functions of co-CEO. As of 2021, he continued to play an active role as chairman of its board of directors.

What are some of the major companies he is involved with?

He is chairman of Power Corporation and Power Financial. He holds board memberships with Great-West Lifeco Inc., Canada Life, IGM Financial Inc., and Mackenzie. He is chairman of Groupe Bruxelles Lambert and a director of SGS. He was a director of Total until 2017.

What philanthropic work is Paul Desmarais Jr. known for?

Desmarais is involved with Centraide of Greater Montréal, where he founded the Major Donors Circle in 1997. He co-chaired the "A Force of Nature" campaign for Nature Conservancy Canada, which raised more than $500 million. He is one of the honorary chairs of the CHU Sainte-Justine Foundation. He participated in a True Patriot Love ski expedition to the North Magnetic Pole to raise awareness for military families.

What honours has Paul Desmarais Jr. received?

He was made an Officer of the Order of Canada in 2005 and an Officer of the National Order of Quebec in 2009. He received the Chevalier de la Légion d'honneur from France in 2012. He received the Insigne d'Officier de l'Ordre de la Couronne from Belgium in 1994. He also received the Queen Elizabeth II Golden Jubilee Medal in 2002 and the Diamond Jubilee Medal in 2012.

Where was Paul Desmarais Jr. educated?

Paul Desmarais Jr. was educated at Lakefield College School in Lakefield, Ontario. He later attended McGill University. Following his undergraduate studies, he earned a Master of Business Administration degree at INSEAD. This educational background prepared him for his subsequent business career. His early life in Sudbury, Ontario, and his Roman Catholic upbringing were foundational before he pursued these academic opportunities. The combination of his Canadian secondary education and international graduate business training was instrumental in his professional development.

Who is Paul Desmarais Jr.'s wife?

Paul Desmarais Jr. is married to Hélène Desmarais. She holds the positions of chairman of the board and CEO of the Centre d'entreprises et d'innovation de Montréal (CEIM). This detail about his spouse is part of the public record concerning his personal life. Her professional role highlights her own significant leadership within the Montreal business and innovation community. Their marriage connects two prominent figures in Canadian corporate and philanthropic circles.

Sources and further reading

• Paul Desmarais Jr. (Wikipedia)
• Paul Desmarais, Jr. (powercorporation.com)
• Paul Desmarais Jr. (greatwestlifeco.com)
• Lessons from Paul Desmarais Jr. (antoinebuteau.com)

Checked by the Yadude Books desk. Last updated 2026-11-06.