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Mark Carney Faces Criticism Over Role in Brookfield's U.S. Relocation

The Liberal leadership frontrunner defends his tenure at Brookfield Asset Management while addressing concerns about transparency and political readiness.

Canada's Liberal Party leadership candidate and former Bank of Canada governor Mark Carney speaks to the media after participating in an English language debate ahead of the March 9 vote to replace Prime Minister Justin Trudeau, in Montreal, Quebec, Canada, February 25, 2025. REUTERS/Evan Buhler
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Mark Carney, former governor of the bank of Canada, gestures during a press conference following the second night of debate in the federal Liberal leadership race to replace Canadian Prime Minister Justin Trudeau at the MELS studios in Montreal, Canada, on February 25, 2025. (Photo by ANDREJ IVANOV / AFP) (Photo by ANDREJ IVANOV/AFP via Getty Images)

Overview

  • Mark Carney, a leading candidate in the Liberal leadership race, is under scrutiny for his involvement in Brookfield Asset Management's headquarters move from Toronto to New York during his tenure as chair.
  • Carney claims the formal decision to relocate was made after his departure, but critics point to earlier communications suggesting his involvement in the process.
  • Conservative opponents accuse Carney of misleading Canadians about his role at Brookfield, raising questions about his trustworthiness as a potential prime minister.
  • Carney has pledged to adhere to all ethics and conflict of interest rules if elected, but has not committed to proactive financial disclosures beyond legal requirements.
  • The leadership contest comes as the Liberal Party seeks to regain public support, with Carney emphasizing his crisis management experience and economic expertise in contrast to Conservative leader Pierre Poilievre.