Carney will be chairman of the newly separated asset\u002Dmanagement unit and Connor Teskey will be president. Find out more.
The Toronto-based firm said it’s on track to complete the listing of 25 per cent of its asset-management business by the end of the year and said Connor Teskey will be its president, with Flatt as CEO. Teskey will continue to run Brookfield’s renewable power business.
Former Bank of England governor Mark Carney will be the chairman of the newly separated unit, which will be called Brookfield Asset Management Ltd. The parent company is to be renamed Brookfield Corp.; Flatt will remain CEO of that as well.
Nicholas Goodman will be appointed president of the parent company in addition to his current role as chief financial officer. Anuj Ranjan will be president of the private equity group, in addition to his overall business development activities of the asset manager. Succession has been a major point of discussion in private-equity circles this week after Carlyle Group Inc. CEO Kewsong Lee stepped down abruptly, reversing a changing of the guard at the firm. However, Flatt is only 57 years old and is likely years away from handing off his CEO roles.
Brookfield saw a record US$56 billion in inflows in the second quarter, but funds from operations declined 13 per cent on weaker performance from its private equity and infrastructure units.Article content
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