Brookfield’s NYC Move Becomes Political Attack Line on Carney

Bloomberg
02-15

(Bloomberg) -- Brookfield Asset Management Ltd.’s decision to shift its head office to New York from Toronto is featured in a new attack ad against Mark Carney, who’s running to become Canadian prime minister. 

Carney is one of the leading candidates to replace Justin Trudeau as Liberal Party leader and assume Canada’s highest political office. He had been Brookfield’s chair and head of transition investing until January, when he resigned to launch his campaign. 

In a video released Friday, the Conservative Party took aim at Carney’s views on the economy and at Brookfield’s relocation. “Trudeau and Carney sold out Canada with job-killing taxes that push jobs south,” the narrator of the video says. “Carney even moved his company’s headquarters to New York.”

Brookfield Asset announced in October that it had moved its head office to New York as part of a strategy to gain inclusion in more US stock indexes and attract more investors. Its parent, Brookfield Corp., still has its headquarters in Toronto. 

Polls suggest Carney, 59, has the edge over Chrystia Freeland in the Liberal contest, which ends March 9. The winner will have to lead the party into a national election within months. 

The Conservatives, led by Pierre Poilievre, have the lead in opinion surveys, though it has narrowed in recent weeks as US President Donald Trump threatens to impose punishing tariffs on US imports from Canada.

“Pierre Poilievre continues to pull from Donald Trump’s playbook with empty and misleading slogans,” Emily Williams, a spokesperson for Carney, said by email. “While Pierre continues to think about Mark, Mark will continue to focus on his real plan to build our economy and stand up for Canadian workers against President Trump’s threats.”

Carney quit numerous corporate and nonprofit roles, including a position as chair of Bloomberg Inc., when he entered politics. 

©2025 Bloomberg L.P.

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