Brookfield Asset Mgmt (NYSE:BAM) Stock

Brookfield Asset Mgmt

Brookfield Asset Management Ltd engages in providing alternative asset management services through an ownership interest in a alternative asset management business. It offers a range of alternative investment products to investors around the world including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies, and private wealth investors.

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Canada is expected to have a new prime minister with former central banker Mark Carney winning the country's Liberal Party election to replace outgoing Prime Minster Justin Trudeau, who announced his intention to <a href="https://www.benzinga.com/25/01/42823979/canadas-pm-justin-trudeau-steps-down-amid-internal-conflict-and-tension-over-trump-tariffs">step down in January.</a>
Carney has had a fast rise in Canadian politics but also enters the key leadership role without ever holding office.
Here are five facts about Carney.
1. Never Held Office: Carney becomes the Liberal Party's leader and the <a href="https://www.benzinga.com/25/03/44212152/mark-carney-takes-justin-trudeaus-job-as-canadas-new-pm-ready-to-face-trumps-tariff-threats-i-know-how-to-manage-crises">next Canadian prime minister </a>without holding public office before. The former central banker enters the key leadership role with vast experience in finance, a position that may have helped him win the election.
In an acceptance speech, Carney focused heavily on U.S. President Donald Trump, tariffs and a potential trade war between the two North American countries.
"My government will keep the tariffs on until the Americans show respect," Carney said. "In the meantime, we will make sure all the proceeds — all the proceeds from our tariffs — will be used to protect our workers." &nbsp;
While the U.S. has paused tariffs on Canada, several retaliatory tariffs put into place by Canada are currently in effect.
Carney also publicly criticized Trump's call to annex Canada and make the border country a state.
"Canada will never ever be part of America, in any way, shape, or form."
Carney has also previously <a href="https://nypost.com/2025/03/08/world-news/mark-carney-frontrunner-to-replace-trudeau-as-canadas-pm/">compared </a>Trump to Harry Potter villain Voldemort.
"When you think about what's at stake in these ridiculous, insulting comments of the president, of what we could be, I view this as the sort of Voldemort of comments," Carney said.
Before entering politics, Carney <a href="https://www.thecrimson.com/article/2025/3/10/carney-canada-prime-minister/">was </a>the governor of the Bank of Canada (2008 to 2013) and the Bank of England (2013-2020). During his time leading monetary policy, Carney was praised for his handling of the 2008 financial crisis, the U.K.'s exit from the European Union and the country's response to the COVID-19 pandemic. Carney was famously the first non-British person to be governor of the Bank of England.
Along with his roles leading the national banks, Carney also spent 13 years at Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>).
Read Also: <a href="https://www.benzinga.com/news/25/03/44213871/canadas-next-pm-mark-carney-vows-to-win-trade-war-with-trump-says-americans-should-make-no-mistake">Canada&#8217;s Next PM Mark Carney Vows To Win Trade War With Trump: &#8216;Americans Should Make No Mistake&#8217;</a>
2. College Goalie: Carney becomes the first graduate of Harvard College to become the Prime Minister of Canada with two others in the role having received past master's degrees from the prestigious American university.
While at Harvard from 1984 to 1988, Carney was a member of the university's hockey team where he was a goalie.
"He was the best backup goalie Harvard ever had," fellow Harvard student and Silver Lake co-founder Glenn Hutchins once said of Carney.
Carney also played goalie while at Oxford working on his doctorate, where he was a co-captain of the hockey team.
3. Bitcoin Stance: Fans of cryptocurrency and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in Canada may not want to hear about Carney's past comments on the sector.
While Trump has ushered in a new cryptocurrency era in the U.S. with a pro-crypto agenda and plans for a <a href="https://www.benzinga.com/25/03/44183572/trump-establishes-strategic-bitcoin-reserve-funded-by-forfeited-assets-i-made-the-promise">Bitcoin strategic reserve,</a> Carney might have to make a similar reversal of course to please Bitcoin fans.
Carney previously criticized Bitcoin for having "serious deficiencies" and said having a Bitcoin standard "would be a criminal act of monetary amnesia," as reported by <a href="https://cointelegraph.com/news/canadas-new-prime-minister-mark-carney-bitcoin-critic">CoinTelegraph</a>.
The Canadian's criticism of Bitcoin dates back to at least 2018 according to the report.
"The fixed supply of Bitcoin has fed a global speculative mania that has encouraged a proliferation of new cryptocurrencies," Carney previously said.
Carney has spoken positively of CBDCs previously and said Bitcoin has proven to be "poor short-term stores of value."
4. Board of Directors Roles: Along with roles at Goldman Sachs and the national banks getting Carney ready for his role as prime minister, the well-known banker also served on several notable boards.
With his push into politics, Carney has <a href="https://www.pionline.com/money-management/bank-canadas-mark-carney-resigns-asset-manager-boards-brookfield-pimco-he-enters">stepped </a>down from many of his board roles. Carney previously served on the board of directors of Brookfield Asset Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>), a unit of Brookfield Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BN#NYSE">BN</a>).
Carney also resigned from his role on the global advisory board of Pacific Investment Management Co, also known as PIMCO. Carney previously served on the board of directors of Bloomberg L.P. and<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44081480/stripes-payment-surge-puts-adyen-paypal-fiserv-on-notice-ai-stablecoins-fuel-the-race"> fintech unicorn </a>Stripe, which was valued at $91.5 billion last month.
"I am no longer a senior executive at Brookfield, I am no longer a senior executive at Bloomberg, I am no longer on the board of Stripe, I am no longer on the board of PIMCO," Carney said in an announcement ahead of his prime minister run.
Carney said the board roles and his banking experience will serve Canada well.
"What I'm bringing from those (experiences) is to help Canada through the immediate crisis, but really to build the strongest economy in the G7."
<a href="https://nypost.com/2025/03/08/world-news/mark-carney-frontrunner-to-replace-trudeau-as-canadas-pm/"> </a>5. Sports Fan/House Divided: A former hockey player, Carney is a <a href="https://www.telegraph.co.uk/finance/economics/9866686/Mark-Carney-is-an-Everton-fan...-but-his-wife-supports-Arsenal.html">fan </a>of the sport and the Edmonton Oilers are his favorite NHL team. Carney is also a fan of the Canadian Football League team Edmonton Eskimos.
Carney is also a fan of soccer and roots for Everton in the English Premier League, with distant relatives living in the Liverpool area. Carney's wife Diana roots for Arsenal as her favorite soccer team, an Everton rival in the English Premier League. Diana, like Carney, also played hockey in college for the Oxford team.
The Canadian has also used the recent victory by Canada over the U.S. in the 4 Nations hockey tournament as a rallying cry.
"Canada will not bow down to a bully. In the trade war — just like in hockey — we will win," Carney said.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/03/44119668/trump-tariffs-could-make-your-next-car-12000-more-expensive-expert-says-25-fees-will-have-a-sharp-negative-effect-on-auto-sales">Trump Tariffs Could Make Your Next Car $12,000 More Expensive: Expert Says 25% Fees Will &#8216;Have A Sharp Negative Effect On Auto Sales&#8217;</a></li>
</ul>
Photo: Shutterstock

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5 Facts About Canadian Prime Minister Mark Carney: From Bitcoin To Hockey

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Shares of companies within the broader financial sector are trading lower amid economic worries driven by tariffs and trade policies. Investors may be expecting a decline in investment and consumer spending, which may also be weighing on the industry.

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Shares of banking and financial services stocks are trading lower amid overall market weakness on rising yields and trade uncertainty.

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Shares of financial companies are trading lower amid President Trump's decision to implement tariffs, which may weigh on the economy, and decrease the likelihood of Fed rate hikes.

Shares of companies in the broader financial services sector are trading lower amid overall market uncertainty after president Trump confirmed Mar 4 tariffs.

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Shares of companies in the broader financial sector are trading lower amid overall market weakness on US consumer and economic concerns.

Scotiabank analyst Mario Saric maintains Brookfield Asset Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>) with a Sector Outperform and lowers the price target from $63 to $62.5.

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Scotiabank Maintains Sector Outperform on Brookfield Asset Mgmt, Lowers Price Target to $62.5

Wells Fargo analyst Michael Brown maintains Brookfield Asset Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>) with a Underweight and lowers the price target from $55 to $54.

Wells Fargo Maintains Underweight on Brookfield Asset Mgmt, Lowers Price Target to $54

Brookfield Asset Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>) reported quarterly earnings of $0.42 per share which missed the analyst consensus estimate of $0.39. This is a 82.61 percent increase over earnings of $0.23 per share from the same period last year. The company reported quarterly sales of $1.06 billion which missed the analyst consensus estimate of $1.25 billion. This is a 5.93 percent decrease over sales of $1.13 billion the same period last year.

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Brookfield Asset Mgmt Q4 EPS $0.42 beats $0.39 Estimate, Sales $1.06B Miss $1.25B Estimate

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Earnings Scheduled For February 12, 2025

Up to €15 billion of data center investment will be led by Brookfield's portfolio company, Data4, one of Europe's largest data center developers, headquartered in Paris.&nbsp;
Data4 has existing plans to build over 500 MW of data center capacity located across several regions in France, with an ambition to triple that by 2030 as part of today's announcement. With this, France is projected to be the single largest market for Data4 in Europe.

Brookfield Asset Management Reveals €20B Infrastructure Investment Program To Support  Deployment Of AI Infrastructure In France

Scotiabank analyst Mario Saric maintains Brookfield Asset Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>) with a Sector Outperform and raises the price target from $59.5 to $63.

Scotiabank Maintains Sector Outperform on Brookfield Asset Mgmt, Raises Price Target to $63

<a href="https://asia.nikkei.com/Business/Technology/Artificial-intelligence/Japan-s-SoftBank-to-sound-out-Apollo-Brookfield-on-Stargate-funding">https://asia.nikkei.com/Business/Technology/Artificial-intelligence/Japan-s-SoftBank-to-sound-out-Apollo-Brookfield-on-Stargate-funding</a>
 TOKYO -- Japanese billionaire Masayoshi Son's SoftBank Group plans to contact big investment firms&nbsp;including Apollo Global Management about fundraising for a U.S. artificial intelligence project proposed by President Donald Trump, Nikkei has learned.
SoftBank and ChatGPT developer OpenAI each will invest $19 billion in the <a href="https://asia.nikkei.com/Business/Technology/Artificial-intelligence/Trump-unveils-500bn-AI-investment-by-SoftBank-OpenAI-and-Oracle">Stargate Project</a>&nbsp;company, which&nbsp;aims to build data centers and the infrastructure to power them. That would give each of them a roughly 40% stake.

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'Japan's SoftBank To Sound Out Apollo, Brookfield On Stargate Funding' - Nikkei

Wells Fargo analyst Michael Brown maintains Brookfield Asset Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>) with a Underweight and lowers the price target from $56 to $55.

Wells Fargo Maintains Underweight on Brookfield Asset Mgmt, Lowers Price Target to $55

Keefe, Bruyette &amp; Woods analyst Kyle Voigt maintains Brookfield Asset Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>) with a Underperform and lowers the price target from $57 to $56.

Keefe, Bruyette & Woods Maintains Underperform on Brookfield Asset Mgmt, Lowers Price Target to $56

This represents approximately 10% of the public float of Brookfield Asset Management's outstanding Class A Shares.&nbsp;
The period of the normal course issuer bid will extend from January 13, 2025 to January 12, 2026, or an earlier date should Brookfield Asset Management complete its purchases

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Brookfield Asset Management Reveals Renewal Of Normal Course Issuer Bid To Purchase Up To 37.12M Class A Limited Voting Shares

Keefe, Bruyette &amp; Woods analyst Kyle Voigt maintains Brookfield Asset Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>) with a Underperform and raises the price target from $49 to $57.

Keefe, Bruyette & Woods Maintains Underperform on Brookfield Asset Mgmt, Raises Price Target to $57

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Shares of financial companies are trading lower amid overall market weakness following the Fed's rate decision to cut rates by 25 basis points.

Wells Fargo analyst Michael Brown maintains Brookfield Asset Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>) with a Underweight and raises the price target from $51 to $56.

Wells Fargo Maintains Underweight on Brookfield Asset Mgmt, Raises Price Target to $56

Brookfield Asset Management Reports Opening Of A New Office Hub In Paris

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Brookfield Asset Management Announces New Meeting Date For Special Meeting on Proposed Arrangement

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Brookfield Asset Management Announces Renewal of Normal Course Issuer Bid

Brookfield Asset Management to Host Fourth Quarter 2024 Results Conference Call

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Brookfield Appoints Bruce Flatt as Chair of Brookfield Asset Management

Brookfield Completes Acquisition of Chemelex

Brookfield Asset Management Closes Transaction to Broaden Shareholder Ownership and Enhance Index Eligibility

Brookfield to Invest €20 billion in France's AI Infrastructure

Brookfield Asset Management Announces Record 2024 Results and 15% Dividend Increase

Strategic Venue Partners Announces Inaugural Issuance of Investment Grade Notes and Refinancing of Revolving Credit Facility to Support Further Growth

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