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Brookfield has promoted Connor Teskey to chief executive of its asset management arm, as the wider private capital group steps up succession planning to long-term chief Bruce Flatt.
Teskey will head the asset-light, listed division of the wider group that controls $1tn in assets, as one of several potential successors whom Flatt is testing out in prominent roles.
Flatt will remain as chief executive of Brookfield Corporation, the listed majority shareholder of Brookfield Asset Management, and chair of the asset management arm, the group said on Wednesday.
The news is the latest sign that Brookfield Corporation is planning for life after Flatt, who over two decades has built the group into one of the world’s biggest alternative asset managers with assets spanning real estate, infrastructure, renewable energy and buyouts.
“Today’s announcement is the next step in the succession process we started four years ago. This will set up our next generation of leaders who will guide the company in the coming decades,” Flatt said in a statement.
Teskey, who is in his thirties, has been president of the asset management arm since 2022, when the group spun out a stake in the unit in a bid to improve its stock price.
He is a member of the wider group’s executive committee and has also headed Brookfield’s renewable energy arm since 2020, having launched the firm’s energy transition funds with Mark Carney, Brookfield Asset Management’s former chair and now Canada’s prime minister. Teskey also led a deal late last year to provide the US government with reactors for nuclear power plants.
The asset management arm is headquartered in New York but Teskey will remain based in London, a person close to the firm said.
He joined Brookfield in 2012, having previously worked in corporate debt origination at a Canadian bank.
Brookfield Asset Management on Wednesday reported what it called its “strongest results since listing”, with the unit having raised $112bn in 2025.
It said fee-related earnings had risen 22 per cent to $3bn for the year and that distributable earnings were up 14 per cent to $2.7bn.
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