Mark Carney’s suits always look expensive. Is his banker uniform helping him in the race to become PM?

“The male political uniform became jeans and a dress shirt, no tie, except on serious or formal occasions,” said political strategist Ashley Csanady, vice-president at McMillan Vantage Policy Group in Toronto. “Female politicians have been told to ditch ornamental scarves and the pantsuit for jeans and a jacket.”

Some have taken it even further: Both Doug Ford and Bonnie Crombie donned political slogan trucker hats in the recent Ontario election campaign.

At the federal level, Conservative leader Pierre Poilievre noticeably casualized his image. “We saw Poilievre have a bit of a makeover the last few years, ditching the glasses and wearing more casual outfits, even T-shirts,” Csanady said.

Meanwhile, NDP leader Jagmeet Singh has been bold in using clothing as personal expression: He’s known for his love of bespoke British tailoring and his colourful turbans often provide punctuation on the trail.

By contrast, Carney doesn’t give any clues as to his off-duty personality in his dress—not with his ties, nor his socks, a particular fashion fetish of his predecessor Justin Trudeau.

With the snap election held so swiftly after Carney replaced Trudeau in office, his opponents have had to adjust their attack strategy on the go. Singh has referred to Carney’s wealth and finance background, saying, “He won’t fight for everyday people, because that’s not who he is.”

Poilievre has sought to tie Carney to Trudeau, leaning into his preferred rhyming slogans. “You, Sir, are not change,” was Poilievre’s main message at last week’s English language debate, where all three of the top-polling party leaders showed up in sharply cut dark suiting with dark ties, a striking masterclass in men’s tailoring.

In this dicey political moment, with the economy held hostage by trade war fears, Carney’s steady image might just be a balm for voters’ shaky nerves. His banker uniform projects authority and experience for the negotiating tables that will lie ahead for our next prime minister. In the face of threats to our jobs, our savings, our place in a new economic world order and our very sovereignty, voters may be looking for a leader who wears a suit like armour.

“Canadians aren’t turning to Carney because they think he’s like them, or they want to have a beer with him. His brand is anchored in his success as a central banker and in private equity,” said Csanady. “Instead of trying to focus group his image, his campaign has decided to let Carney be Carney—a guy who looks as comfortable in a suit as he does crunching numbers.” As she put it, he is conveying not style but substance.

In the finance world, though, he stood out. The Guardian called Carney “Canada’s rock-star banker” when he became governor of the Bank of England. He was once featured on the cover of a Harry Rosen flyer, circa 2012, while in his role as governor of the Bank of Canada. The picture was not authorized; it was shot by a paparazzi and paired with a playful caption. The Financial Post covered it, calling him “our central banker pin-up boy.”

In a time when billionaires are taking over society, their overt displays of wealth leaving a bad taste, looking expensive could be a liability. But Carney’s suits are more stealth wealth than flashy. In the early 2010s, The Star reported that he commissioned Toronto bespoke tailor Isaac Ely to dress him for the G20 and G8 summits, having been a client since his days in the Goldman Sachs Toronto office in the late 1990s. British papers later speculated that Carney had switched to custom threads from London’s Savile Row.

“He has always been a traditionalist — the suits, the ties, the rare snap of him in a casual polo and shorts in the summer,” said Justin Mastine-Frost, digital director of content at men’s style magazine Sharp, describing this as “no-nonsense, knows what’s best for you” dad energy. (The somewhat groovy handle “Big Daddy” made the TikTok rounds a few weeks ago after a supporter shouted, “Lead us, Big Daddy” to Carney at a Scarborough rally.)

“It’s ‘banker chic’ of the era and suitably safe, even boring, as expected from a politician,” Mastine-Frost said.

It will be interesting to see if sticking to the finance uniform is a winning strategy. “At least for me, I don’t know that the banker cred would help his case in this moment, knowing how tired society is of the giant cogs of legacy institutions both here and stateside,” said Mastine-Frost.

The respectable business suit aesthetic was standardized around 1850, said Nigel Lezama, undergraduate program director and associate professor of fashion studies and inclusion at Toronto Metropolitan University, whose research has focused on men’s dress in post-revolution France. “Prior to the revolution, men and women were equally ornate,” he says. The 19th century shift to capitalism made “men’s fashion more fit for purpose, to emphasize productivity and efficiency. Men’s looks became very discreet and sober to represent patriarchal sobriety and responsible, business-oriented life.”

Accessorizing took on greater importance. When suits became uniforms symbolic of masculinity, “the flourish of the tie became the flourish of the self,” said Lezama.

After decades buttoned-up behind the scenes of international monetary systems, Carney is unlikely to furnish us with flourishes. But letting his hair down just a tad might be on the cards. “You can spot a little change in his late ’24 to early ’25 suiting,” said Mastine-Frost. “The cuts feel a bit more trim.”

Csanady has observed Carney loosening up in recent weeks. “His team has managed to get him out of a tie during key campaign stops, and that visually opens him up a bit. It’s a good middle ground.”

We have seen him drop the jacket, roll up his sleeves and don an obligatory hard hat for a photo op. But don’t expect colourful socks or slogan hats.