Brookfield CEO Bruce Flatt discussed the company’s succession plan, with Connor Teskey set to lead Brookfield Asset Management, and highlighted the firm’s ongoing focus on talent, infrastructure investment (especially in AI, cloud, and nuclear energy), and strategic growth. He emphasized the importance of long-term value, maintaining strong brands, and leveraging expertise in asset-backed finance to navigate evolving market opportunities.
Bruce Flatt, CEO of Brookfield, discussed the company’s recent succession plan, announcing that Connor Teskey will take over leadership of Brookfield Asset Management. Flatt emphasized the importance of clear and methodical succession planning, noting that the transition has been in the works for years and is designed to inject new energy into the business. He explained that his own role will evolve to focus more on strategy, client relationships, and supporting the broader Brookfield Corporation, especially as the company continues to expand its insurance and investment businesses.
On the topic of talent and hiring, Flatt highlighted that Brookfield’s focus on real assets and infrastructure has insulated it from the hiring slowdowns seen in other financial sectors. He stated that the company continues to grow, adding people, countries, and clients, and stressed the critical importance of talent management. Flatt warned that while it’s easy to overlook people, they remain the most vital asset in any business, especially in one as complex and global as Brookfield’s.
Flatt also addressed Brookfield’s significant investments in infrastructure, particularly in areas supporting artificial intelligence and cloud computing. He pointed out that underinvestment in private markets, especially in power and data center infrastructure, is a major risk, as these projects are technically challenging and require specialized skills. Brookfield’s strategy is to focus on these bottlenecks, leveraging its expertise to build critical infrastructure that is increasingly in demand worldwide.
A key example of Brookfield’s forward-thinking approach is its partnership with Westinghouse in the nuclear energy sector. Flatt described how collaboration with the U.S. government has enabled Brookfield to scale up nuclear power projects, which are essential for providing the baseload power needed to double the U.S. grid over the next two decades. He praised the U.S. government’s commercial approach and willingness to support private sector initiatives that create jobs and strengthen the country’s energy infrastructure.
Finally, Flatt discussed Brookfield’s acquisition of the remaining stake in Oaktree Capital, emphasizing the value of maintaining both the Brookfield and Oaktree brands. He noted that while some back-office functions will be integrated, the distinct identities of both firms are important for their respective markets. Flatt also commented on the current credit market environment, suggesting that Brookfield’s focus on asset-backed finance and opportunistic credit positions it well to capitalize on market dislocations. He concluded by advising investors to focus on long-term value, buying and holding great companies rather than reacting to short-term market fluctuations.