Who is next Canadian Prime Minister Mark Carney?

Mark Carney has secured a decisive victory in the race to succeed Justin Trudeau as Canada’s prime minister, vowing to stand firm against U.S. trade policies and President Donald Trump.

The former governor of both the Bank of Canada and the Bank of England triumphed in the Liberal Party’s leadership contest, defeating three rivals in a landslide. During his victory speech, Carney, 59, directly criticized Trump, who has imposed tariffs on Canada and previously suggested making the country the 51st U.S. state. “Americans should make no mistake,” Carney declared. “In trade, as in hockey, Canada will win.”

Carney is expected to be sworn in within days and will lead the Liberal Party into the next general election, which could be called in the coming weeks.

Canada's Liberal Party gather to choose a successor to PM Trudeau, in Ottawa — Former Bank of Canada and Bank of England governor Mark Carney, standing next to his wife Diana Fox, makes a “W” gesture to signify his win in the race to become leader of Canada’s ruling Liberal Party, and will succeed Justin Trudeau as Prime Minister, in Ottawa, Ontario, Canada, March 9, 2025. REUTERS/Blair Gable

Who Is Mark Carney?

Born in Canada’s Northwest Territories and raised in Alberta, Carney is a political newcomer with no prior elected experience. He holds degrees from Harvard and Oxford and spent over a decade at investment giant Goldman Sachs before transitioning to public service.

Carney took over as governor of the Bank of Canada during the 2008 global financial crisis, earning praise for his swift actions that helped shield Canada from a deeper recession. In 2013, he became the first foreigner to lead the Bank of England, a role he held until 2020, overseeing the financial system through Brexit.

Most recently, Carney served as chair of Brookfield Asset Management, where he spearheaded initiatives promoting climate-aligned investment strategies.