(Bloomberg) — Mark Carney recruited Timothy Hodgson, a former Goldman Sachs banker who was an adviser to him at the Bank of Canada, to run for the Liberal Party in the country’s election.
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Hodgson has taken an unpaid leave of absence as chair of Hydro One Ltd. to be a candidate for the Liberals, according to a statement from the Canadian electrical utility on Tuesday.
He’ll run in the suburban Toronto electoral district of Markham-Thornhill, according to the party’s website. It’s a seat the Liberals currently control.
Hodgson has also stepped off the board of Ontario Teachers’ Pension Plan, where he was vice chair of the investment committee. “Tim has been an engaging and impactful Board member since joining in January 2023 and we wish him all the best,” Teachers’ Chair Steve McGirr said in an emailed statement.
Hodgson worked with Carney at Goldman and joined the Bank of Canada as special adviser to him in 2010, when Carney was governor. The stint lasted a little more than a year and a half, according to Hodgson’s LinkedIn profile, and his tasks included advising on monetary policy and on matters of financial stability.
Carney became Canada’s prime minister on March 14 after winning the Liberal Party leadership race and called a national election just nine days later, saying he needed a mandate from voters. Polls show that it’s a tight race, with some surveys putting the Liberals in the lead and with a shot at winning a majority government.
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