Former Bank of England Governor Mark Carney has stepped down from his roles as Chair and Head of Transition investing at Canadian alternative investment giant Brookfield Asset Management to launch his bid to become the country’s next Prime Minister, according to a report by New Private Markets.
Carney confirmed his candidacy for leadership of Canada’s ruling Liberal Party in a LinkedIn post on Thursday, days after hinting he was “considering” entering the race. His decision follows Prime Minister Justin Trudeau’s announcement that he would step down.
Carney joined Brookfield in 2020 after a career as a central banker, serving as Governor of the Bank of England from 2013 to 2020 and as Governor of the Bank of Canada from 2008 to 2013.
During his tenure at Brookfield, the Canadian investment giant developed one of the largest renewable energy and transition investing platforms globally, managing over $100bn in assets. The firm is currently raising its second Brookfield Global Transition Fund, which has already secured over $10bn toward a $17bn target. Brookfield ranks as the largest manager of impact capital, according to industry data.
Brookfield confirmed Carney’s resignation in a statement, noting that CEO Bruce Flatt has assumed his duties as Chair of the Board of Directors. The company’s President, Connor Teskey, will now lead its transition business.
Carney’s tenure at Brookfield has been marked by his focus on renewable energy and the energy transition, advocating for blended capital solutions to address climate challenges at scale. His campaign for Prime Minister is expected to emphasise economic and environmental policies, reflecting his leadership philosophy.
