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Canada's Mark Carney to head Bank of England

AFP - Nov 26, 2012

Britain on Monday named Canadian central bank chief Mark Carney as the new Bank of England governor, picking the first ever foreigner to lead the institution through a period of enormous change.

Finance minister George Osborne told lawmakers he had chosen the 47-year-old Carney because he was the "outstanding central banker of his generation", while Carney said he was honoured to be picked.

"He is quite simply the best, most experienced and most qualified person in the world to be the next governor of the Bank of England," Osborne said in a statement to parliament.

Carney, who is currently governor of the Bank of Canada and chair of the global Financial Stability Board (FSB), will take over from Mervyn King, who has lead the BoE since 2003 and is due to step down on June 30.

The new BoE governor, who intends to take on British citizenship and is married to a British wife, was born in Fort Smith, Northwest Territories, Canada.

"Mark Carney is not a British citizen but he is a subject of the queen," Chancellor of the Exchequer Osborne said, to cheers from MPs.

Read Full Article from AFP

- Posted: 2012-11-26 16:11:09

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