Factbox - Mark Carney, the Bank of England's next governor
(Reuters) - Here are some key facts about Bank of Canada Governor Mark Carney, who will become governor of the Bank of England on July 1, 2013, and serve a five-year term.
-- Carney, 47, will be the first non-British governor of the Bank of England, replacing Mervyn King. He will stay in his position at Canada's central bank until June 1 next year.
-- In addition to being Canada's top central banker, in November 2011 Carney took the helm of the Financial Stability Board, which has been tasked by the Group of 20 leading economies to introduce and coordinate a raft of new financial regulations.
-- Carney's 13-year career at Goldman Sachs armed him with financial market expertise widely viewed as an asset in navigating the credit crisis. After working in the investment bank's London, Tokyo, New York and Toronto offices, Carney was appointed deputy governor of the Bank of Canada in 2003. He left in November 2004 for a senior position in Canada's finance department, which included being the country's G7 deputy.
-- Time magazine named Carney as one of the world's most influential people in 2010 for helping keep the country's banks safe through the global financial crisis.
-- He has faced occasional criticism at home for forecasts seen as overly optimistic and for not being sufficiently forthright about the bank's outlook on rates. But most critics were won over by his handling of the credit crisis and recession, when he created new emergency loan facilities and gave unusually explicit guidance on keeping interest rates at record low levels for a specific period of time. Under Carney, Canada became the first G7 country to start hiking interest rates after the crisis.
-- Since becoming Bank of Canada governor in 2008, Carney has brought in fresh - and relatively young - faces to fill almost all the top policymaking positions at the bank. Four of the five other members on the bank's governing council, which sets rates, were appointed after he took the helm. In addition, advisers he hired include a Goldman Sachs Canada executive and a former chief economist at Bank of America-Merrill Lynch.
(Corrects second paragraph to say "the first non-British governor of the Bank of England" instead of "first non-English governor")
- Tweet this
- Share this
- Digg this
- Pistorius starts five-year term for killing Reeva Steenkamp |
- Total CEO de Margerie killed in Moscow as jet hits snow plough |
- UPDATE 11-Total CEO de Margerie killed in Moscow as jet hits snow plough
- Total CEO Christophe de Margerie killed in Moscow plane accident - airport spokeswoman
- Swedish 'Cold War' thriller exposes Baltic Sea nerves over Russia