In 2023, we continued to transform our businesses
1
OpCo organic
Great-West Lifeco delivered strong, broadly based results across segments; Empower successfully integrated recent acquisitions, and its newly created Empower Personal Wealth platform is generating meaningful growth
IGM results were driven by solid performance at both IG Wealth Management and Mackenzie, and it is positioned for sustainable profitable growth with leading core franchises and high-growth businesses in each of its wealth and asset management segments
2
OpCo M&A
The group continued to invest significantly to scale its businesses and position them for further growth and competitiveness
IGM acquired an interest in Rockefeller Capital Management, a risk-smart entry into the largest and deepest wealth market in the world
Great-West Lifeco announced the sale of Putnam, unlocking shareholder value and reinforcing its focus on the U.S. retirement and personal wealth business through Empower
Canada Life acquired Investment Planning Counsel and Value Partners, advancing its goal of becoming a leading Canadian full-service wealth provider
3
Power Corporation level
We focused on growing value over time, aiming to bring the alternative asset management businesses to profitability through fundraising, product launches and strategic partnerships
We grew assets under management at our alternative asset management businesses and focused on raising third-party capital
We increased our share buybacks, returning more capital to shareholders from the monetization of non-core assets
