Former Bank of Canada and Bank of England Governor Mark Carney has stepped down from his role as chairman of Brookfield Asset Management to focus on his political aspirations. He is joining the campaign to lead the Liberal Party of Canada. Carney has been praised for his work on Brookfield's energy transition efforts, but he is now stepping away from his corporate roles to dedicate himself to politics.
Mark Carney , the former governor of both the Bank of Canada and the Bank of England, has stepped down from his position as chairman of Brookfield Asset Management to pursue a political career. Carney, who is 59 years old, announced his resignation at a press conference in Edmonton, Alberta, stating that he is resigning from all of his corporate roles, including his chairmanship of Bloomberg Inc., to focus on politics.
His decision comes as he joins the campaign to lead the Liberal Party of Canada. Carney has been with Brookfield for nearly five years and has played a key role in the firm's energy transition efforts. Bruce Flatt, Brookfield's 59-year-old CEO, has been named board chair in place of Carney. Carney's resignation means he will no longer lead Brookfield's transition investing business, although Connor Teskey, CEO of the renewable unit, has been managing the day-to-day operations for the past four years. The firm has decided not to appoint a new head of transition investing. Before his successful career in finance, Carney grew up in Edmonton, Alberta, where his family moved from the remote Northwest Territories. His father previously unsuccessfully ran for the Liberal Party in Edmonton in 1980. Carney's foray into politics has attracted attention, particularly after Pierre Poilievre, the leader of Canada's Conservative Party, criticized Carney for his involvement in economic policy discussions with Prime Minister Justin Trudeau and for his association with Brookfield.
Politics MARK CARNEY BROOKFIELD ASSET MANAGEMENT LIBERAL PARTY CANADA ENERGY TRANSITION POLITICS
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