Jean-Louis Lévesque, Canadian businessman and philanthropist (d. 1994)
Jean-Louis Lévesque, (April 13, 1911 – December 28, 1994) was a Canadian entrepreneur, thoroughbred racehorse owner, and philanthropist.
J. Louis Lévesque was born in Nouvelle in Quebec's Gaspé Peninsula to an Acadian father and an Irish mother. In 1934, he graduated with a B.A. degree from St. Dunstan's University in Charlottetown, Prince Edward Island. He then went to work for the Provincial Bank of Canada in Moncton, New Brunswick. After a few years in banking, his contacts led to an offer to join a Montreal securities firm as a stockbroker and his success led to his founding the investment firm Crédit Interprovincial Ltée. in 1941. Lévesque began buying small businesses that he believed were undervalued. He reorganized the companies and then sold some of them for a substantial profit while maintaining others where he saw long-term potential. He eventually merged his business with the securities firm L.G. Beaubien et Cie to form Lévesque, Beaubien Inc. Specializing in government bonds, his brokerage company replaced LJ Forget et Cie as the largest French Canadian securities firm in Canada
Highly respected throughout the country for his business acumen, Lévesque was appointed by the Government of Canada to serve on the 1957 Royal Commission on energy that resulted in the creation of the National Energy Board. He was invited to sit on the board of directors of numerous large corporations such as Air Canada, Dupuis Frères, Canadian National Railways, Provincial Bank of Canada, General Trust of Canada, Equitable Insurance, and Hilton Hotels of Canada, among others.
J. Louis Lévesque had a special affinity with the bilingual city of Moncton, New Brunswick, and was appointed chancellor of the University of Moncton in 1967, serving until 1972. Following liftoff in his private jet from Miami, he once famously suggested a few Montreal friends to join him for a lobster dinner, his guests were, however, surprised to find out upon disembarking that they were rather in Moncton.
Having amassed a fortune, in his late sixties Lévesque set about planning his retirement with an eye to becoming more involved with the sport of horse racing. He began divesting himself of the various companies he controlled including the sale to Power Corporation of Canada of his holding company, TransCanada Funds. In 1988, the brokerage firm Lévesque, Beaubien Inc. became the cornerstone of National Bank Financial.
As well J. Louis Lévesque had owned through his holding companies Industrial Life, Provident Life, and Fred Lalemand yeast. He disposed of his main holding company Trans Canada Corporation in a reverse takeover transaction with Paul Desmarais Sr. after a long association with Desmarais whom he had initially financed in his entry to Quebec.
Among his many accolades, J. Louis Lévesque was voted into the Canadian Business Hall of Fame.