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Significant gift aimed at making a long-term investment in developing diverse, visionary leaders
LONDON, ON, April 28, 2021 /CNW/ - Today, Power Corporation of Canada, Canada Life and IGM Financial announced a $1.75 million contribution to Ivey Business School in London, Ontario. This gift will further support research and help develop visionary leaders who will actively participate in public policy dialogue and contribute to a stronger economic future for Canada.
Through this contribution, each company selected a specific use for their funding in support of this overarching goal.
Power Corporation will support Ivey's Lawrence National Centre for Policy and Management in creating actionable research that will help policy makers strengthen Canada's competitiveness and build a more prosperous and inclusive economy. Power Corporation's contribution will support an 8-year industry or post-doctoral fellow position and a new innovation fund to support emerging research and programming at the Lawrence National Centre. It will also support an annual Power Corporation of Canada Summit as well as a Roundtable Series, bringing together leading industry experts, academics, senior officials and ministers to discuss and develop answers to the major issues facing Canada.
"Over the past year, Canada has experienced unique and unexpected challenges that have highlighted the need for dynamic and resilient leaders who can chart the way forward," said Jeffrey Orr, President and Chief Executive Officer of Power Corporation. "Together with our affiliates Canada Life and IGM Financial, we're pleased to support Ivey as they foster leading edge research and innovative learning opportunities that will develop these leaders and the solutions that will enable Canada to come back stronger than ever."
Canada Life will fund two to three student interns per year, who will support the Centre's research initiatives and the new fellow funded by Power Corporation. With an 8-year fellow position, this will equate to between 16 and 24 fully funded interns in total. These interns will help the fellow with research, data management and other required work to advance their efforts. While all students who are eligible may apply for these positions, preference will be given to women and/or individuals from the BIPOC community, to help bring more diverse voices and perspectives to public policy work.
"At Canada Life, we believe the right support can make all the difference in someone's life. That's why we're so proud to fund these important educational opportunities for so many future leaders, especially those who may have been underrepresented in the past," said Jeff Macoun, President and Chief Operating Officer, Canada, for Canada Life. "We hope this opportunity to gain firsthand experience and learn from leading experts is just the beginning of a bright, successful career for each and every intern."
IGM Financial group of companies, including Mackenzie Investments and IG Wealth Management, will dedicate five scholarships annually for the next eight years to fourth year, Honors Business Administration (HBA) students who self-identify as women. To be considered for the IGM Financial scholarships, students will need to hold a minimum 78% average and have an interest in the financial services industry.
"IGM Financial group of companies is proud to support Ivey's HBA program and help build the pipeline for the next generation of female business leaders," said James O'Sullivan, President & CEO, IGM Financial. "We know that the financial services sector needs to do a better job of attracting and inspiring women to join both the wealth and asset management industry and we hope programs like this will drive increased participation and access to opportunity."
Altogether, this $1.75-million contribution to Ivey was designed for long-term impact and will be provided over eight years. In addition to Canada Life's recent $250,000 contribution to Brescia University College, this equates to $2 million in support of Western University's faculties and affiliated university colleges.
"We're grateful for this generous gift which will support teaching, research and public policy dialogue on building a more sustainable competitive Canadian society," said Sharon Hodgson, Dean of Ivey Business School. "There has never been a more important time for business, academia and government to work together to strengthen Canada's socio-economic development."
About The Canada Life Assurance Company
Canada Life is a leading insurance, wealth management and benefits provider focused on improving the financial, physical and mental well-being of Canadians. For more than 170 years, individuals, families and business owners across Canada have trusted us to provide sound guidance and deliver on the promises we've made.
On January 1, 2020, Great-West Life, London Life and Canada Life became one company – Canada Life, and today, we proudly serve more than 12 million customer relationships from coast to coast to coast.
About IGM Financial
IGM Financial Inc. is one of Canada's leading diversified wealth and asset management companies with approximately $248 billion in total assets under management and advisement. The company provides a broad range of financial planning and investment management services to help more than two million Canadians meet their financial goals. Its activities are carried out principally through IG Wealth Management, Mackenzie Investments and Investment Planning Counsel. IGM Financial is a member of the Power Corporation group of companies.
About Power Corporation
Power Corporation is an international management and holding company that focuses on financial services in North America, Europe and Asia. Its core holdings are leading insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms. To learn more, visit www.powercorporation.com.
SOURCE Canada Life
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