Saturday, 17 January 2026

The Goldman banker who became PM

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OTTAWA: Mark Carney, a former Goldman Sachs banker and central banker for two major economies, is set to become Canada’s next prime minister — despite never holding elected office.

Carney, 59, won the Liberal Party leadership with 85.9 per cent of the vote, replacing Justin Trudeau. 

His tenure may be brief, with a general election looming where the opposition Conservatives are slight favourites.

Born in the Arctic town of Fort Smith and raised in Edmonton, Carney played hockey in his youth before studying at Harvard and Oxford. 

He made his fortune at Goldman Sachs, working in New York, London, Tokyo, and Toronto, before joining the Canadian civil service. 

In 2008, he was appointed governor of the Bank of Canada, steering the country through the financial crisis. 

In 2013, he became the first foreigner to lead the Bank of England, navigating Brexit’s fallout.

Carney has warned that Donald Trump poses “the most serious crisis of our lifetime” and says the US wants “our resources, our water, our land, our country.” 

His technocratic style, however, may be a hurdle in retail politics. 

“He’s a boring guy who doesn’t have a lot of charisma,” said Daniel Beland of McGill University.

The Conservatives have already labelled him “sneaky” and an out-of-touch elite. 

Attack ads highlight his Goldman Sachs past, wealth, and years spent abroad. 

His climate policies are another target, with Tories dubbing him “Carbon Tax Carney” for his ties to Trudeau’s unpopular tax.

Carney, however, pitches himself as a crisis-tested leader focused on investment-driven green growth. 

“This is where the world is going,” he said in a recent podcast.

His leadership will soon be tested at the ballot box. – AFP

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