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IGM CEO Says Wealthsimple Validates Power’s Fintech Strategy

  • O’Sullivan says investments keep management looking to future
  • CEO sees hybrid model for workers’ return to offices
Drake

Drake

Photographer: Jamie McCarthy/Getty Images
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This week’s fund-raising round for online brokerage Wealthsimple Inc. shows how Power Corp. of Canada’s fintech investments will pay off for the financial conglomerate, IGM Financial Inc. Chief Executive Officer James O’Sullivan says.

Not only are those investments profitable in their own right, as Wealthsimple’s surging valuation illustrates, but they keep managers at Power Corp.-controlled companies, such as IGM, “alert” and thinking about the future for their industry, O’Sullivan said in an interview Friday.