Key Takeaways
- • Connor Teskey, president of Brookfield Asset Management since 2022, appointed CEO of the $1 trillion alternative asset manager, formalizing a multi-year succession plan with Bruce Flatt remaining as chairperson and CEO of parent company Brookfield Corp.
- • Teskey will retain concurrent roles as CEO of Brookfield's Renewable Power & Transition business and head of Brookfield Renewable Partners, maintaining oversight of critical growth divisions while assuming the top leadership position.
- • Teskey orchestrated Brookfield's 2019 acquisition of a 61% controlling stake in Oaktree Capital Management for $4.8 billion, establishing the company as a major private credit player and demonstrating the strategic vision now positioned to lead the broader organization.
- • The appointment concludes a planned leadership transition initiated after Mark Carney departed in 2024 to pursue Canadian politics, eventually becoming prime minister; Flatt had assumed the chairperson role at Brookfield Asset Management in response to that vacancy.
- • Brookfield Asset Management reported strong financial performance concurrent with the announcement, including $142 billion in capital raised over the past year and fee-related earnings growth of 22% to $3 billion in 2025.
Summary
Brookfield Asset Management has formalized its long-anticipated leadership transition by naming Connor Teskey as chief executive officer of the $1 trillion alternative asset manager. Teskey, who joined Brookfield in 2012 and has served as president since 2022, will assume the top executive role while Bruce Flatt continues as chairperson and maintains his position as CEO of parent company Brookfield Corp. The appointment represents the culmination of a succession plan that had been in development for multiple years within the organization.
Teskey's ascension marks the next phase of generational leadership transition at Brookfield. The appointment followed heightened speculation about succession planning after Flatt assumed the chairperson role at Brookfield Asset Management last year, following the departure of Mark Carney, who left to pursue Canadian politics and ultimately became Canadian prime minister. Teskey had been widely viewed internally and by investors as the logical successor to lead the asset manager's operations.
Prior to his elevation to CEO, Teskey established himself as a key strategic architect within Brookfield through his orchestration of major capital deployment decisions. Most notably, in 2019 he spearheaded Brookfield's acquisition of a controlling 61% stake in Oaktree Capital Management for $4.8 billion, a transaction that positioned Brookfield as a dominant player in the private credit markets and significantly expanded the firm's alternative asset platform. Since joining Brookfield after working on corporate debt origination at a Canadian bank, Teskey has held various investment and management roles across the organization.
Teskey will maintain his concurrent positions as CEO of Brookfield's Renewable Power & Transition business and head of Brookfield Renewable Partners, where he oversees investments, operations, and global expansion initiatives. This retained responsibility underscores his continued strategic importance to the company's renewable energy and infrastructure segments during the transition. Flatt characterized the appointment as the next chapter in a carefully structured leadership handoff, stating the move will "set up our next generation of leaders who will guide the company in the coming decades."
The CEO appointment coincided with the release of strong financial results for Brookfield Asset Management, including $142 billion in capital raised over the past year and fee-related earnings that rose 22% to $3 billion during 2025, demonstrating robust operational momentum as the organization enters its new leadership era.
Teskey's ascension marks the next phase of generational leadership transition at Brookfield. The appointment followed heightened speculation about succession planning after Flatt assumed the chairperson role at Brookfield Asset Management last year, following the departure of Mark Carney, who left to pursue Canadian politics and ultimately became Canadian prime minister. Teskey had been widely viewed internally and by investors as the logical successor to lead the asset manager's operations.
Prior to his elevation to CEO, Teskey established himself as a key strategic architect within Brookfield through his orchestration of major capital deployment decisions. Most notably, in 2019 he spearheaded Brookfield's acquisition of a controlling 61% stake in Oaktree Capital Management for $4.8 billion, a transaction that positioned Brookfield as a dominant player in the private credit markets and significantly expanded the firm's alternative asset platform. Since joining Brookfield after working on corporate debt origination at a Canadian bank, Teskey has held various investment and management roles across the organization.
Teskey will maintain his concurrent positions as CEO of Brookfield's Renewable Power & Transition business and head of Brookfield Renewable Partners, where he oversees investments, operations, and global expansion initiatives. This retained responsibility underscores his continued strategic importance to the company's renewable energy and infrastructure segments during the transition. Flatt characterized the appointment as the next chapter in a carefully structured leadership handoff, stating the move will "set up our next generation of leaders who will guide the company in the coming decades."
The CEO appointment coincided with the release of strong financial results for Brookfield Asset Management, including $142 billion in capital raised over the past year and fee-related earnings that rose 22% to $3 billion during 2025, demonstrating robust operational momentum as the organization enters its new leadership era.
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