The Globe and Mail reports in its Thursday edition that Brookfield Asset Management has named Connor Teskey its chief executive officer, succeeding Bruce Flatt in a long-expected move. The Globe's James Bradshaw writes that Mr. Teskey, 38, was made president in 2022 and has run the day-to-day management of the $1-trillion (U.S.) asset manager since then. His new role as CEO is effective immediately. Mr. Flatt became Brookfield's CEO in 2002 at a similarly young age. He will still chair the asset manager's board and remain CEO of its parent company, Brookfield Corp. The company said its strategy will not change. Mr. Flatt has said publicly that Mr. Teskey would be his successor as CEO as far back as 2024, and Brookfield said its succession process has been under way for four years. Mr. Teskey joined Brookfield in 2012 and his rise has been rapid, making him one of the youngest CEOs of a major global asset manager. Brookfield is coming off its best fundraising quarter ever, when the company brought in $35-billion (U.S.) in the final three months of the year (all figures U.S.). Most of that -- $23-billion -- flowed into the company's credit business. That brought its total funds raised for the year to $112-billion.