Brookfield Asset Management executive Mark Carney is seriously contemplating a run for Liberal Party leader and prime minister, according to multiple reports.

Justin Trudeau announced Monday that he will step down as Liberal leader and prime minister after the party elects a new leader. The outgoing prime minister said he has also obtained permission from Governor-General Mary Simon to prorogue Parliament until March 24.

That means no federal legislation will be introduced, or passed, because Parliament will not be in session. As a result, any real estate-related projects or finance programs tied to pending legislation will not advance.

Carney currently chairs Brookfield Asset Management, which ranks among Canada’s largest institutional investors. He also heads the company’s global-transition investment program. His departure from the company would place billions of dollars of global real estate and infrastructure-related investment under new direction.

The Toronto Star reported that Carney, a former Bank of Canada and Bank of England governor, is seriously contemplating a run for the Liberal leadership and, therefore, prime minister. According to the Star and other media outlets, he has contacted dozens of other Liberal MPs to discuss his potential candidacy.

If he assumes the helm of the Liberals while they are still in power, he would automatically become prime minister.

But the opposition parties are voicing their intention to bring the government down through a non-confidence motion, which is on hold until Parliament resumes sitting. Carney would have to be elected as Liberal leader before then.

He would also face a general election election at some point this year, regardless of non-confidence motion result, because the Liberals’ term is due to expire.

According to reports, Carney has discussed a potential Liberal leadership bid with dozens of the party’s MPs. Carney elected to stay with Brookfield Asset Management rather than become Canada’s finance minister after Chrystia Freeland resigned abruptly in December because, she said, she had been “at odds” with Trudeau for several weeks.

Freeland also said that she decided to leave cabinet because Trudeau told her that he planned to name a new finance minister.

Citing unidentified sources, the Globe and Mail reported that Trudeau told Freeland that he planned to replace her with Carney. Dominic LeBlanc replaced Freeland as finance minister and is also considered a potential Liberal leadership candidate.

It remains to be seen whether Brookfield Asset Management will allow Carney to take a leave from the company, pending the result of a Liberal leadership vote, presuming that he enters the race.

Photo: Brookfield Asset Management