Power: Clients and Wealth

power: Wealth Simple under CEO Michael Katchen manages 3 billion in assets for more than 100,000 clients, according to The Toronto Star. Power Corp. is controlling shareholder of the robo-adviser. Power Corp's in-house venture fund Portag3 has raised 198 million in its second round of funding, with about half coming from units of the Montreal-based holding company and half from outside investors, including National Bank of Canada and Intact Financial Corp. Toronto Star File Photo Power Corp. entities previously spent 240 million on fintech companies. Desmarais said the fintech companies Portag3 invests in are giving Power Corp. a window into the latest trends in tech and consumer adoption. What brings together all of the investors is that they view the financial services industry as being ripe for change and they want to be positioned to take advantage of that change, said Portag3 co-founder and executive chairman Paul Desmarais III, the son of Power Corp.'s co-chief executive officer Paul Desmarais Jr. (news.financializer.com). As reported in the news.