Mark Carney

Mark Carney was born on March 16, 1965, in Fort Smith, Northwest Territories, Canada. He earned a bachelor’s degree in economics from Harvard University in 1988, where the lectures of Canadian-born economist John Kenneth Galbraith sparked his interest in the field. He continued his studies at the University of Oxford, receiving a master’s degree in economics in 1993 and a doctorate in economics in 1995.

Prior to entering public service, Carney had a thirteen-year career in finance with Goldman Sachs, working in their London, Tokyo, New York, and Toronto offices. He eventually rose to the position of managing director of investment banking. While at Goldman Sachs, he assisted post-apartheid South Africa in accessing international bond markets and advised Russia during its 1998 financial crisis. In 2000, Carney transferred to Canada.

In 2003, Carney began his public service career when appointed Deputy Governor of the Bank of Canada (BOC). The following year, he was seconded to the Department of Finance, where he implemented a policy concerning the taxation of income trusts. He returned to the BOC in November 2007 and was appointed Governor in February 2008 for a seven-year term. During his tenure as Governor, Carney took proactive measures during the 2008 financial crisis, reducing interest rates before many other countries. Canada experienced less severe economic consequences than other G7 nations and quickly recovered to pre-recession output and employment levels. In November 2011, while serving as Governor, Carney was appointed Chairman of the Financial Stability Board (FSB) for three years. In 2012, as Governor of the Bank of Canada, Carney visited Israel and met with Israeli Prime Minister Benjamin Netanyahu.

In November 2012, it was announced that Carney would succeed Mervyn King as Governor of the Bank of England (BOE). He assumed this position on July 1, 2013, becoming the first non-British person to lead the institution since its founding in 1694. He served as Governor of the BOE until 2020, navigating the economic uncertainties following the United Kingdom’s decision to leave the European Union (Brexit).

After his term at the Bank of England concluded, Carney was appointed the United Nations Special Envoy on Climate Action and Finance. He also joined Brookfield Asset Management as Vice Chair and Head of Transition Investing. In September 2024, he was tapped to lead a Liberal economic task force in Canada. In January 2025, following the resignation of Prime Minister Justin Trudeau, Carney announced his candidacy for the leadership of the Liberal Party. He won the leadership election on March 9, 2025, and became the Prime Minister of Canada.

As Carney assumed leadership, his views on Israel and anti-Semitism came under scrutiny. While he has condemned anti-Semitic attacks, such as the defacing of a Montreal synagogue, and quoted Holocaust survivor Elie Wiesel on the perils of silence in the face of threats to human dignity after October 7, some Jewish leaders and commentators have expressed uncertainty regarding his stance on Israel. Some noted his relative silence on issues concerning Israel and anti-Semitism before becoming Prime Minister. Vivian Bercovici, former Canadian ambassador to Israel, said Carney did not respond to concerns about pro-Hamas demonstrations in Jewish neighborhoods.

While Carney has expressed support for a two-state solution with a secure Israel and a viable Palestinian state, some critics have described his responses to the Israeli-Palestinian conflict as bland or not vocal enough. Overall, Carney’s approach to issues concerning Canadian Jews and Israel has been described as a “wildcard,” with many Jewish leaders adopting a “wait-and-see” attitude.

Shortly following his election as Prime Minister, Carney stated that it was wrong to cut off electricity to Gaza and that essential supplies should not be used as political tools. This drew criticism from pro-Israel commentators and Canadian politicians, who felt he was singling out Israel and not adequately addressing the issue of hostages held by Hamas. 

Canadian Prime Minister Mark Carney is under fire after appearing to endorse a claim that Israel is committing genocide in Gaza during a rally. However, he later said he misheard the statement. Responding “Thank you” and referencing Canada’s arms embargo on Israel, Carney later clarified he hadn’t heard the word “genocide” and was only acknowledging the situation in Gaza. His comments triggered sharp criticism from Israeli Prime Minister Benjamin Netanyahu and Canadian Jewish organizations, who accused him of fueling anti-Semitism and undermining support for Israel amid its war with Hamas. The controversy adds to concerns from Canada’s Jewish community over the Liberal Party’s stance on Israel, following Carney’s earlier misstep when he mistakenly said he agreed with Hamas during a leadership debate.

Sources: “Mark Carney,” Bank of Canada.
“Mark Carney,” Britannica Money.
“Mark Carney, Vice Chair of Brookfield Asset Management and Head of Transition Investing,” CalPERS.
Jacob Kornbluh, “What does the election of Mark Carney mean for Canadian Jews and Israel?” Forward, (March 9, 2025).
Avery Lotz, “What to know about Mark Carney, Canada’s next prime minister,” Axios, (March 10, 2025).
“Mark Carney: New Canadian PM a wildcard on Israel relations and antisemitism,” Jerusalem Post, (March 10, 2025).
Dave Gordon, “Trudeau successor’s views on Israel a mystery, Jewish leaders say,” JNS, (March 10, 2025).
Rachel Treisman, “5 things to know about Mark Carney, Canada’s next prime minister,” NPR, (March 10, 2025).
Jessie Yeung, “Who is Mark Carney, the crisis-handling former central bank governor turned Canada’s next leader?” CNN, (March 12, 2025).
“New Canadian prime minister says Israel must supply electricity to Gaza,” JNS, (March 12, 2025).
Matthew Kassel, “Canadian PM Mark Carney rebuked by Netanyahu over apparent anti-Israel remark,” Jewish Insider, (April 10, 2025).

Photo: Policy Exchange, CC BY 2.0, via Wikimedia Commons.