Teskey took over as chief executive effective Tuesday, with Flatt remaining CEO of the overarching Brookfield Corp., as well as chair of the board of Brookfield Asset Management. Prime Minister Mark Carney held the latter role until he entered politics last year. (The Logic)

Talking Point: Thirty-eight-year-old Teskey was appointed head of Brookfield’s renewables business in 2020. He takes over as the firm and its funding partners prepare to plunge US$100 billion into artificial intelligence infrastructure and launch a cloud computing service. Still, Flatt said on an earnings call that there will be “no real transition” as Teskey has acclimated to the role over the past four years. The financial giant and its constellation of associated companies have been expanding rapidly. Teskey noted in his letter to shareholders that the firm had only four products on the market in 2016, and is now fundraising across nearly 60 funds and “strategies.” Though Brookfield Asset Management moved its headquarters from Toronto to New York in 2024, it will continue to have Canadian leadership. Teskey grew up in Vancouver and attended Western University.

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