Liberals win big in Canada: Who is Mark Carney?

Mark Carney was named leader of the Liberal Party of Canada in a leadership race that turned out to be not very close. Carney thus became Canada’s new prime minister, without being elected, as the next election campaign in Canada loomed.

Born in 1965 in Canada, in the Northwest Territories, Mark Carney studied at Harvard and then obtained a doctorate in economics from the University of Oxford.

He worked for 13 years at Goldman Sachs, holding positions in London, Tokyo, New York, and Toronto, specializing in emerging markets and financial risk management.

In 2003, he joined the Bank of Canada as Deputy Governor, and then became Associate Deputy Minister of Finance of Canada.

He was appointed Governor of the Bank of Canada in 2008, at the beginning of the global financial crisis, and implemented effective policies to protect the Canadian economy.

He is known for keeping interest rates low and ensuring economic stability which allowed Canada to navigate the crisis better than other countries.

In 2013, he became the first non-British person to lead the Bank of England, where he had to manage the consequences of Brexit and stabilize financial markets.

After leaving the Bank of England in 2020, he became an advocate for green finance, notably serving as the UN Special Envoy for Climate Action and Finance.

He joins Brookfield Asset Management, a giant in investment, where he leads initiatives on climate and renewable energy.

Carney remains a key player in financial regulation, climate, and global economic governance, advising governments and institutions on major economic topics.

In 2021, Mark Carney expresses his support for the policies of the Trudeau government, particularly regarding energy transition and green economy. His speech reinforces speculation about a possible entry into politics… for the Liberals.

​Then, the rumors materialize. Mark Carney officially announced his candidacy for the leadership of the Liberal Party of Canada.

On March 9, 2025, Mark Carney was elected leader of the Liberal Party of Canada in a leadership race that turned out to be not very close, ahead of Chrystia Freeland, Karina Gould, and Frank Baylis. Mark Carney will also become the new Prime Minister of Canada before triggering federal elections that will see him face off against the leader of the Conservative Party of Canada, Pierre Poilievre.

Then, on April 28, 2025, after an election campaign that proved successful in his first attempt for Mark Carney, he was elected Prime Minister of Canada with 168 MPs, four short of a majority. He thus defeated Pierre Poilievre and the Conservatives, who were close behind. Poilievre was not elected in his own riding, however. It was therefore a successful bet for Mark Carney, who became the 24th Prime Minister of Canada.