Honorary Fellow and Alumnus becomes prime minister of Canada
Mark Carney (DPhil Economics, 1993), Honorary Fellow of Nuffield, has been sworn in as Canada’s new prime minister, following a landslide victory in the Liberal Party’s leadership election.
Prior to his move to politics, Mark held a series of high-profile roles including as Governor of the Bank of Canada during the 2008 global financial crisis, and later as Governor of the Bank of England – the first non-British person in this post in the institution’s more than 300-year history.
On leaving central banking, Mark moved into other senior financial roles including chair of the board of directors at Bloomberg LP and chair and head of impact investing at Brookfield Asset Management. At the same time he was able to use his skills and experience for global benefit by serving as the United Nations’ Special Envoy for climate action and finance. He also worked as an informal advisor to his predecessor Justin Trudeau, providing guidance on financial policy during the COVID-19 pandemic. In 2024 he was made chair of the Liberal Party’s economic growth task force.
Mark’s considerable abilities were apparent during his time at Nuffield, when he performed the unusual and impressive feat of completing his DPhil in under two years, guided by the late Nobel laureate Jim Mirrlees. His other DPhil supervisor, Nuffield Fellow Meg Meyer, recalls that his thesis on ‘The Dynamic Advantage of Competition’ was notable for its breadth, combining several varying approaches and tools ‘to explore in detail several different mechanisms through which the presence of competition in the domestic market might enhance the competitiveness of a country's firm’.
Meg adds, in response to the news of his election: ‘Mark was an extraordinarily versatile student, rapidly mastering new approaches, perspectives and challenges. These skills will undoubtedly serve him well as he leads Canada during these turbulent times.’
We wish Mark well as he takes office and look forward to seeing him guide Canada through the current global challenges.
There is extensive coverage of this story, including BBC News, The Guardian, and CBC News.