Who Is Mark Carney? Meet Justin Trudeau's Successor As Prime Minister Of Canada

Mark Carney has been elected as the new leader of Canada's Liberal Party, succeeding Justin Trudeau as prime minister. Carney, a former governor of both the Bank of Canada and the Bank of England, secured a decisive victory in the leadership race with 89% votes. 

Carney, who had long dismissed political ambitions – once joking in 2012, "Why don't I become a circus clown?" – is now prime minister-designate. He has never held elected office.

In his victory speech, Carney addressed the escalating trade tensions with the United States, particularly President Donald Trump's recent tariffs and comments suggesting Canada could become the 51st US state. He claimed, "America is not Canada. And Canada never, ever, will be part of America in any way, shape or form."

His election follows Trudeau’s announcement on January 6 that he would step down as prime minister and leader of the Liberal Party after nearly a decade in power. Carney is expected to be sworn in within days and may call a general election soon to seek a fresh mandate from the Canadian public. 

Mark Carney was born on March 16, 1965, in Fort Smith, Northwest Territories, Canada. He is the son of a high school principal. 

He received a bachelor's degree in economics from Harvard University in 1988. He earned a master’s degree in economics in 1993 and a PhD in 1995 from Oxford University.  In April 2013, he was awarded an Honorary Doctor of Laws from the University of Manitoba.

Mark Carney worked at Goldman Sachs for 13 years in London, Tokyo, New York, and Toronto. In August 2003, he was appointed Deputy Governor of the Bank of Canada. In November 2004, he left the Bank of Canada to become Senior Associate Deputy Minister of Finance.

Mark Carney was appointed Governor of the Bank of Canada, on February 1, 2008, for a seven-year term. He took office shortly before the global financial crisis and helped Canada avoid the worst of the recession. He cut interest rates aggressively and kept them low, which helped businesses continue investing.

In November 2011, he was appointed Chairman of the Financial Stability Board (FSB), a position he held till 2018.

He left the Bank of Canada in 2013 to take on the role of Governor of the Bank of England – the first non-British person to hold the position in the bank’s 300-year history.

In 2020, he was appointed the United Nations’ Special Envoy for Climate Action and Finance. In 2021, he launched the Glasgow Financial Alliance for Net Zero, promoting sustainable finance.