Who is Mark Carney, the man who could be Liberal king?
Last month, former Bank of Canada governorMark Carney appeared poised to become the country’s next finance minister. Now, he has an even bigger post in his sights.
On Thursday, Carney is expected to announce he will run to succeed Justin Trudeau as leader of the Liberal Party Canada, a contest that could elevate him within weeks to the post of prime minister — if only until a widely expected federal election.
Carney’s official entry into the Liberal race will come after months of speculation about his political ambitions following a notable career in finance and central banking.
Born in Fort Smith, Northwest Territories, Carney grew up in Edmonton before pursuing a degree in economics at Harvard University and master’s and doctoral degrees in 1993 and 1995, respectively, at the University of Oxford.
Becoming a banker wasn’t always the obvious career choice, he told The Guardian newspaper in a 2021 interview. Instead, he fancied being a marine biologist but prioritized banking as he found it the most “most effective way” to pay off his student loans.
He worked at Goldman Sachs Group Inc. for 13 years in various roles including as a managing director in the investment banking division before joining the Bank of Canada as deputy governor in 2003.
A year later, he joined the Department of Finance as a senior associate deputy minister.
Carney played a key role as part of the team that successfully sold Ottawa’s 18.6 per cent stake in Petro-Canada in 2004 for $3.3 billion — which at the time was Canada’s biggest ever equity offering.
“The transaction was completed without major glitches, under an aggressive timeline at the peak of the market, to the maximum benefit of all those involved, and without controversy — a feat for a
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