Former Bank of England governor Mark Carney joins asset manager that owns New York’s World Financial Center

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Peter Summers/Reuters Mark Carney is taking his first job since leaving the top post at the Bank of England earlier this year, returning to the private sector 17 years after his departure from Goldman Sachs in 2003. Load Error The two-time central bank governor will join Brookfield Asset Management (BAM) […]

Peter Summers/Reuters

Mark Carney is taking his first job since leaving the top post at the Bank of England earlier this year, returning to the private sector 17 years after his departure from Goldman Sachs in 2003.

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The two-time central bank governor will join Brookfield Asset Management (BAM) as vice chair and leader of its environmental, social, and governance (ESG) investment strategy.

Carney became the governor of the Bank of Canada in 2008 and is widely credited with successfully steering the country through the financial crisis. He took over the top job at the Bank of England in 2013, the first non-Briton to hold the governorship, which he held until March.

The asset manager said he will be tasked with developing a group of funds that will aim to combine positive social and environmental outcomes with strong risk-adjusted returns.

Brookfield, which has around $550 billion in assets under management, is a global investment firm with a focus on real estate, infrastructure, private equity, and renewable power. Through its subsidiary Brookfield Property Partners (BPY) it owns Brookfield Place in New York, previously known as the World Financial Center, and Canary Wharf Group in London.

“Mark will help accelerate our efforts to combine better long-term outcomes for society with strong risk-adjusted returns,” Brookfield’s chief executive Bruce Flatt said.

Carney is an outspoken advocate for ESG investing and the role of responsible investing in light of climate change. He’s the United Nations special envoy for climate and finance and will continue in that role.

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