Mark Carney has brought in Timothy Hodgson, a former Goldman Sachs banker who previously served as an advisor at the Bank of Canada, to run as a candidate for the Liberal Party in the upcoming Canadian election.

Hodgson has temporarily stepped down as the chair of Hydro One Ltd. to focus on his candidacy for the Liberals in the Markham-Thornhill district in suburban Toronto. This seat is currently held by the Liberals.

In addition to resigning from his position at Hydro One, Hodgson has also left his role on the board of the Ontario Teachers' Pension Plan, where he served as vice chair of the investment committee. Ontario Teachers' Chair Steve McGirr conveyed his well wishes to Hodgson in an email statement.

Hodgson's professional relationship with Carney dates back to their time at Goldman Sachs, and he later worked for the Bank of Canada as a special advisor to Carney during his tenure as governor. Carney recently became the leader of the Liberal Party and subsequently called for a national election to seek a voter mandate. The polls indicate a close race with the Liberals potentially winning a majority government.