Mark Murski
About Mark Murski
Mark Murski, age 49, has served as an independent director of City Office REIT, Inc. (CIO) since the company’s April 2014 IPO. He is a Managing Partner at Brookfield Infrastructure Group and sits on private boards for Brookfield investment companies; he previously led Brookfield Financial’s M&A group and worked in Brookfield’s merchant banking unit and at Ernst & Young. He has 25+ years of investment banking and private equity experience focused on real estate and infrastructure, and holds CA/CPA and CFA credentials with a business degree from the Ivey Business School. Since September 2020, he has also served on the board of Cheniere Energy Partners, L.P. (NYSE: CQP) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Brookfield Financial | Managing Partner; Head of M&A | Prior role (dates not disclosed) | Led origination/execution of M&A, debt/equity capital markets, corporate finance advisory |
| Brookfield Merchant Banking | Investment professional | Prior role (dates not disclosed) | Invested in numerous real estate companies |
| Ernst & Young LLP | Earlier career | Prior role (dates not disclosed) | Audit/finance foundation |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Brookfield Infrastructure Group | Managing Partner | Current | Sits on private boards for Brookfield investment companies |
| Cheniere Energy Partners, L.P. (NYSE: CQP) | Director | Since Sept 2020 | Board oversight; committee roles not disclosed |
| NAIOP – Greater Toronto Chapter | Board member | 7 years (prior) | Industry governance network |
| Trisura Guarantee Insurance Company | Founding director | Prior (dates not disclosed) | Foundational governance role |
Board Governance
- Independence: CIO’s Board determined 5 of 6 directors are independent under SEC/NYSE standards, including Murski .
- Committee assignments and chair roles (2024):
- Compensation Committee: Chair
- Audit Committee: Member; Board determined all Audit members (including Murski) qualify as “audit committee financial experts” .
- Investment Committee: Member .
- Attendance and engagement: Board met 6 times in 2024; Audit 4, Compensation 3, Nominating 2, Investment 2. All incumbent directors attended at least 75% of Board and relevant committee meetings and attended CIO’s 2024 Annual Meeting .
- Governance practices: Stock ownership policy requires independent directors to reach ownership equal to 3× annual base compensation within five years; hedging of company securities prohibited; compensation clawback for NEOs adopted Nov 8, 2023 .
Fixed Compensation (Director)
| Component | Amount | Notes |
|---|---|---|
| Annual director cash retainer | $50,000 | Standard non-employee director fee |
| Committee chair retainer (Compensation Committee) | $10,000 | Audit chair is $15,000; other committee chairs $10,000 |
| Cash fees paid (2024, Murski) | $60,000 | Fees earned may be payable to Brookfield Asset Management upon Murski’s request |
Performance Compensation (Director)
| Grant Date | Instrument | Quantity | Fair Value | Vesting & Features |
|---|---|---|---|---|
| Jan 24, 2024 | RSUs | 10,778 | $65,317 | Vests ratably over 3 years; dividend equivalents accrue in RSUs and vest on same schedule |
| 2024 accruals | RSU dividend equivalents | 1,243 RSUs (Murski) | Included in RSU counts; fair value aggregated in stock awards | Time-based; no performance metric tied to director equity |
Note: CIO does not disclose performance metrics for non-employee director equity grants; awards are time-based RSUs with dividend-equivalent accruals .
Other Directorships & Interlocks
| Entity | Relationship | Potential Interlock/Conflict Note |
|---|---|---|
| Brookfield Infrastructure Group | Managing Partner | Fees earned for CIO board service may be payable to Brookfield Asset Management upon Murski’s request (payment direction), creating a potential alignment/conflict consideration |
| Cheniere Energy Partners, L.P. (NYSE: CQP) | Director (since Sept 2020) | Public company board service; no CIO-related party transactions disclosed with Cheniere |
| Brookfield private boards | Director | Private boards in Brookfield ecosystem; CIO policy permits directors to engage in similar business activities; conflicts are overseen under related persons policy |
Expertise & Qualifications
- Financial and transactional expertise: 25+ years in real estate/infrastructure investment banking and PE; led M&A and capital markets at Brookfield Financial .
- Audit committee financial expert: Board determined each Audit Committee member, including Murski, qualifies under SEC/NYSE standards .
- Professional credentials: CA/CPA, CFA; Ivey Business School graduate .
Equity Ownership
| Measure | Value |
|---|---|
| Common shares beneficially owned (Feb 20, 2025) | 38,337 |
| Ownership % of outstanding | <1% (asterisk per proxy table) |
| Unvested director RSUs outstanding at 12/31/2024 | 2,083 (2022 grant); 4,854 (2023 grant); 11,407 (2024 grant) |
| Shares outstanding (Record Date for 2025 proxy) | 40,358,240 |
| Hedging/Pledging | Hedging prohibited for directors; pledging not specifically addressed in proxy |
Approximate value note: CIO disclosed a 12/31/2024 closing price of $5.52 per share; at that price, 38,337 common shares would be valued at ~$211,621 for context (not a proxy-reported valuation) .
Insider Trades (Form 4 – recent)
| Filing Date | Nature | Security | Quantity | Source |
|---|---|---|---|---|
| Jul 25, 2025 | Dividend-equivalent accrual | RSUs | 306 | |
| Apr 25, 2025 | Statement of changes | RSUs (dividend equivalents) | Not stated on index | |
| Jul 25, 2024 | Statement of changes | RSUs (dividend equivalents) | Not stated on index | |
| Jan 26, 2023 | Statement of changes | RSUs (dividend equivalents) | Not stated on index |
Note: Company’s insider filings page lists the Form 4s; specific share counts are available within each filing. The July 25, 2025 SEC record and summary indicate 306 RSUs acquired via dividend equivalents .
Governance Assessment
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Strengths:
- Independent director with deep real assets finance experience; designated audit committee financial expert .
- High governance influence as Compensation Committee Chair, with clear chartered authority over CEO/NEO pay, EIP administration, and target-setting; committee composed solely of independent directors .
- Documented attendance compliance and annual meeting participation; active service on Audit and Investment Committees supports board effectiveness .
- Robust policies: director stock ownership guideline (3× base compensation within 5 years), hedging prohibition, NEO clawback, majority vote/resignation policy .
-
Potential conflicts and risk indicators:
- RED FLAG: Fees earned may be payable to Brookfield Asset Management upon Murski’s request, indicating compensation could be directed to his employer, which merits monitoring for independence perceptions and related-party dynamics .
- Multiple external roles within Brookfield’s ecosystem and a separate public board (CQP) increase interlock complexity; however, CIO discloses no related-party transactions involving Murski or Brookfield and has a policy to review conflicts .
- Compensation Committee did not retain an independent compensation consultant in 2024, which can be acceptable but warrants attention given sector headwinds and pay-for-performance scrutiny .
-
Alignment signals:
- Equity-based director pay via RSUs with dividend equivalents promotes alignment; no director pension programs; stock ownership policy in place for directors .
- All directors attended at least 75% of meetings; committee workloads are balanced across independent directors .
- Say-on-pay 2024 approval was ~81% for NEO compensation, reflecting investor tolerance, with Murski’s committee overseeing program stability .
Overall, Murski’s finance/infrastructure expertise and committee leadership bolster board effectiveness. Key monitoring areas for investors are the Brookfield compensation routing option, breadth of external commitments, and continued use (or non-use) of independent compensation advice.