Real estate developer

Campeau, Robert (1924- ), Canadian financier, born in Sudbury, Ontario. Campeau left school at 14 to work as a machinist and in 1949 became a carpenter, eventually building a small subdivision in Ottawa. His company, Campeau Construction Corp. was incorporated in 1953. Campeau began to develop commercial properties in the early 1960s and won important government contracts through his friendship with Prime Minister Pierre Trudeau.

In business Campeau was unorthodox and willing to take great risks. In 1980 he sought control of a leading Canadian financial institution, the Royal Trust. Although he failed, his next bid, for the United States-based Allied Stores, the third largest retailer in the country, was successful in 1986. He then took over Federated Department Stores (1988), which included the prestigious Bloomingdale's department store.

To pay for these new assets he sold others and borrowed heavily. As a result of his ensuing debts, he was forced first to auction off Bloomingdale's and then to step down as head of his corporation, sharing control with Olympia & York, a Canadian developer. Campeau then returned to real estate, taking a more cautious approach to investment.