Who is Mark Carney?

Mark Carney is a Canadian economist, banker, and climate finance advocate. He is best known for serving as the Governor of the Bank of Canada (2008–2013) and the Governor of the Bank of England (2013–2020)—making him the first non-British citizen to lead the UK’s central bank. Carney played a key role in stabilizing the global economy during the 2008 financial crisis and later focused on climate finance and sustainable investment.

Early Life & Education

• Born on March 16, 1965, in Fort Smith, Northwest Territories, Canada.
• Earned a Bachelor’s degree in Economics from Harvard University (1988).
• Completed a Master’s and Ph.D. in Economics at the University of Oxford (Nuffield College).

Career Highlights

1. Investment Banking (Goldman Sachs, 1990–2003)

• Spent over a decade at Goldman Sachs, working in London, Tokyo, and New York.
• Specialized in sovereign risk, emerging markets, and energy sectors.
• Helped Russia restructure its debt after its 1998 financial crisis.

2. Deputy Governor & Governor of the Bank of Canada (2003–2013)

• Joined the Bank of Canada in 2003 as Deputy Governor, later becoming Governor in 2008.
• Led Canada through the 2008 financial crisis—Canada was the only G7 country to avoid a major bank bailout.
• Kept interest rates low and emphasized the importance of a strong banking system.

3. Governor of the Bank of England (2013–2020)

• Became the first non-British citizen to hold the position.
• Navigated the UK’s economy through Brexit uncertainty.
• Advocated for climate risk disclosure and green finance.
• Launched the "Future of Finance" report, focusing on fintech, digital currencies, and financial inclusion.

4. Climate Finance & UN Special Envoy (2020–Present)

• Became the UN Special Envoy on Climate Action and Finance in 2020.
• Key figure in the COP26 climate summit, pushing for net-zero finance.
• Helped launch the Glasgow Financial Alliance for Net Zero (GFANZ)—a $130 trillion pledge from financial institutions to fight climate change.

5. Corporate & Advisory Roles

• Vice Chairman at Brookfield Asset Management, leading its climate-focused investment strategy.
• Serves on boards and panels advising on sustainable finance.

Books & Thought Leadership

• "Value(s): Building a Better World for All" (2021) – Discusses how financial systems can prioritize human values like fairness, sustainability, and resilience.

Legacy & Influence

• Respected as a crisis manager—his leadership during the financial crisis and Brexit helped stabilize economies.
• Climate finance pioneer—pushing for banks and investors to shift towards sustainable, carbon-neutral investments.
• Seen as a potential political leader—On January 16, 2025, Carney officially announced that he was running in the 2025 Liberal Party of Canada leadership election. Carney also announced that he stepped down from all executive, board and advisory positions that he was part of in order to focus on his leadership campaign. By February 9, his campaign had raised more than $1.9 million in donations from over 11,000 people and received endorsements from 66 Liberal caucus members. If elected, he would become the first Canadian prime minister to have never served in prior elected office.

Personal Life

Carney met his wife, Diana Fox, a British economist specializing in developing nations, while at the University of Oxford. She is active in various environmental and social justice causes. The couple married in July 1994 while he was finishing his doctoral thesis. They have four children and lived in Toronto before moving to the Rockcliffe Park neighbourhood of Ottawa and then moving to London in 2013. They moved back to Ottawa when Carney left his role at the Bank of England in 2020. He is the godfather of Chrystia Freeland's son. She is running against him in the 2025 Liberal Party leadership election.

Carney speaks French in a passable manner. Carney is an Irish and British citizen in addition to holding Canadian citizenship. He has distant relatives in Liverpool and is a supporter of the city's Everton F.C. He is also a supporter of the Edmonton Oilers and the Edmonton Elks. Carney completed the 2015 London Marathon in 03:45:22, which was 17 minutes faster than his time at the 2011 Ottawa Marathon. Carney was a Goalie when he played hockey.

Carney is a practising Catholic. In 2015, he was named as the most influential Catholic in Britain by The Tablet.

COPYRIGHT 2007-2025 Patti Friday b.1959.