J. Louis Lévesque was born in Nouvelle in Quebec'sGaspé 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.[1] Specializing in government bonds, his brokerage company replaced LJ Forget et Cie as the largest French Canadian securities firm in Canada
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.
Beyond horse racing, Lévesque was a driving force behind the creation of the Canadian Women's Open golf championship. Known at the time as La Canadienne, it was the first-ever LPGA tournament in Canada.
As a boy, Jean-Louis Lévesque lost his five-year-old sister to meningitis and his eleven-year-old brother to typhoid fever. Their deaths profoundly impacted him and as an adult, when he had made his fortune, he became a very substantial contributor to philanthropic causes such as hospitals and medical research.