Mark Carney was appointed as the new leader of Canada’s Liberal Party and the country’s next prime minister, replacing Justin Trudeau amid rising public dissatisfaction. The former central banker will now lead the party in the upcoming general elections and handle Ottawa’s response to challenges from US President Donald Trump.
Carney secured a decisive victory in the Liberal Party leadership race, winning 85.9 percent of the votes cast. The leadership contest within the Liberal Party began after Trudeau declared his resignation in early January, following internal party opposition and Freeland’s departure from the cabinet.
Carney has previously positioned himself as the ideal counter to Trump’s disruptions, highlighting his leadership in guiding the Bank of Canada through the 2008-2009 financial crisis and steering the Bank of England through the economic turbulence following the 2016 Brexit vote.
“He is attacking what we build. He is attacking what we sell. He is attacking how we earn our living,” Carney told his supporters at a final campaign event near Toronto on Friday.
“We are facing the most serious crisis in our lifetime,” he further continued, adding that, “Everything in my life has prepared me for this moment.”
Who is Mark Carney
- Mark Carney, 59, a highly regarded economist and former central banker, has emerged as a prominent figure in Canada’s political landscape after entering the leadership race in January.
- Born in a small town in Canada’s Northwest Territories, he studied at Harvard—where he was a backup goalie for the Crimson’s hockey team—before continuing his education at Oxford.
- With a career spanning top roles at the Bank of Canada and the Bank of England, Carney earned a reputation for steady leadership during financial crises.
- His career saw him rise through the ranks of investment banking at Goldman Sachs before transitioning to public service.
- As Canada’s central bank chief, he played a pivotal role in the country’s swift recovery from the 2008 financial meltdown, later becoming the first non-citizen to lead the Bank of England in its centuries-long history.
- His appointment in the UK was widely praised across party lines, solidifying his reputation as a skilled economic leader.
- Since stepping down from the Bank of England in 2020, Carney has served as a United Nations envoy focused on mobilizing private sector investment in climate-friendly technologies while also holding roles in the private sector. Despite his extensive experience, he has never held elected office or served in parliament.
- In the days ahead, Trudeau and the newly appointed Liberal leader will meet with Canada’s Governor General, Mary Simon—King Charles III’s official representative—who will entrust the leader with forming the government.
