The prominent central banker and investor was chosen in a crucial leadership race amid threats from President Trump. He is expected to quickly call a federal election.

Mark Carney has been elected leader of Canada’s Liberal Party in a months-long, high stakes race to replace Justin Trudeau.

Canada will have a new leader for the first time in a decade: Mark Carney will become the 24th Canadian prime minister after being elected leader of the country's Liberal Party on March 9. Carney will replace Prime Minister Justin Trudeau, who has led Canada since 2015.