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Canadian bank chief appointed as next governor of Bank of England

Bank of Canada Governor Mark Carney will succeed Sir Mervyn King as governor of the Bank of England when he steps down next June.

For the first time in history the job of governor was publicly advertised with the Treasury looking for a candidate with experience of working in a central bank or similar institution, or at a senior level in a major financial institution.

The frontrunners included deputy Governor for financial stability Paul Tucker, FSA chairman Lord Adair Turner, former cabinet secretary Sir Gus O’Donnell and economist Sir John Vickers.

The new governor will have responsibility for financial stability, monetary policy and financial regulation when sweeping reforms come into force next April.

The Financial Conduct Authority and Prudential Regulation Authority will come directly under the remit of the new boss.

Carney ruled himself out of the running in August but had a change of heart.

Last week Chancellor George Osborne described Carney as the best and “most qualified person in the world to do the job”.


Andrew Montlake MS blog


Interest-only looks like it will only survive as a niche product for the wealthy as the big lenders withdraw from the market and it looks like the small and medium-sized firms will have to follow suit

Aviva extends CI deal for children up to age of 21

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Brian Hall

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Pensions - thumbnail

Changes to capped drawdown tables

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