WSJ News Exclusive | Ex-Central Bank Chief Mark Carney Adds Consulting Role to Job Portfolio
LONDON—
Mark Carney,
the former head of the central banks of the U.K. and Canada and the United Nations’ point man on climate change and finance, has taken on a new role advising companies on the global economy with Macro Advisory Partners, a consulting firm.
Mr. Carney has been appointed senior counselor, the firm said Monday, adding another role to a portfolio of jobs that includes heading up Canadian asset manager
Brookfield Asset Management Inc.’s
sustainable investment business. Mr. Carney is also the U.N.’s special envoy on climate action and finance, in which he is tasked with persuading the world’s biggest banks and investors to stump up billions of dollars to fight climate change.
Macro Advisory Partners, founded in 2013 and based in London, has a roster of European and American clients that include Apple Inc.,
GlaxoSmithKline
PLC and
Mastercard Inc.
It provides strategic advice for executives on geopolitics and the economy, and counts among its senior staff and advisory board members former diplomats, financiers and business leaders.
Mr. Carney’s role will be to advise clients on the global economy and monetary policy, said
Nader Mousavizadeh,
MAP’s founding partner and chief executive.
Major central banks including the Federal Reserve and the European Central Bank are shifting gears as they wrestle with the challenges of the pandemic and in many instances surging inflation, a complex backdrop for company executives to navigate, he said.
“We are now looking at an environment or an outlook where the Fed goes one way, the ECB goes another way and the Chinese go another way,” Mr. Mousavizadeh said in an interview. To help clients understand what these shifts mean, “we can’t think of anyone better than Mark,” he said.
His role isn’t focused on climate but rather the global economy and the intersection of geopolitics and monetary policy, he added.
Mr. Carney’s other jobs, as green investor with Brookfield and an architect of a new global climate finance regime with the U.N., have opened him up to questions about potential conflicts of interest.
Mr. Carney has pushed back, saying in a 2021 interview with The Wall Street Journal that criticism of his job at Brookfield “doesn’t make sense” because the company is a founding member of his climate finance alliance and is committed to reducing investments linked to carbon emissions.
Mr. Carney said in a statement Monday, “Now more than ever leaders are challenged by the complex intersection of global economic forces, politics and corporate strategy.”
The role is part-time and remuneration is a private matter, Mr. Mousavizadeh said.
Write to Jason Douglas at [email protected]
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