Bank of Canada Governor Mark Carney Appointed Governor of the Bank of England

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Bank of Canada Governor Mark Carney Appointed Governor of the Bank of England


For immediate release
26 November 2012
 Contact: Jeremy Harrison
613 782-8782

Ottawa -
 
The Bank of Canada announced that Her Majesty the Queen has approved the appointment of Mark Carney as Governor of the Bank of England effective 1 July 2013.  He will serve a five-year term.

Governor Carney will continue to serve in his current position until 1 June to ensure a smooth transition to the next Governor of the Bank of Canada.  The Governor will remain Chair of the Financial Stability Board.

Governor Carney said:

“I am honoured to accept this important and demanding role, and to succeed Sir Mervyn King with whom I have worked closely over these past five years and from whom I learned so much.

This is a critical time for the British, European and global economies; a decisive period for reform of the global financial system including its leading financial centre, the City of London; and a crucial point in the Bank of England’s history as it accepts vital new responsibilities.”

“It has been a privilege to serve as the eighth Governor of the Bank of Canada.  I am proud of the Bank’s contribution to the resilience of the Canadian economy throughout an unprecedented period of global turmoil.  The Bank is helping to lead the reform of the global financial system.  It is introducing the most sophisticated currency in the world.  And as the Government of Canada’s fiscal agent, it is providing funds management and banking services with the highest reliability and resiliency.”

“Canadians can be confident that such leadership will continue.  The depth and quality of its human resources, the dedication of its employees and the clarity of its strategic vision will ensure that the Bank will continue to promote the economic and financial welfare of all Canadians.”

“I would like to thank the Board of Directors of the Bank of Canada, Minister Flaherty and Prime Minister Harper for having given me this opportunity to serve Canada.  I have done so to the best of my abilities and am humbled by the support I have received from both my colleagues at the Bank and from Canadians across this great country.”

The Board of Directors will shortly form a Special Committee comprised of independent directors whose mandate will be to undertake a recruitment process for the selection of the next Governor.  Governors of the Bank of Canada are appointed by the independent directors, subject to the approval of the Minister of Finance and the federal Cabinet.

http://www.bankofcanada.ca/2012/11/press-releases/bank-canada-governor-mark-carney-appointed-governor-bank-of-england/

Well that's quite the news, and promotion for him.  Is he a dual citizen?

Since i expect it will take a while to find a replacement and the new $5 and $10 in the final phases of prep, we'll be seeing his signature on our currency for quite a while to come.

New Governor of the Bank of England announced

Her Majesty the Queen has been pleased to approve the appointment of Mark Carney as Governor of the Bank of England from 1 July 2013. He will succeed Sir Mervyn King
 
Welcoming the appointment, the Governor, Sir Mervyn King, said:
 
I am delighted to welcome Mark Carney as my successor.  He represents a new generation of leadership for the Bank of England, and is an outstanding choice to succeed me.  Since Mark became Governor of the Bank of Canada, I have worked closely with him and admired his contributions to the world of central banking, in which he is widely respected.
 
The Chairman of Court, Sir David Lees, said:
 
On behalf of the Court of the Bank of England I congratulate Mark Carney on his appointment as the next Governor of the Bank.  His reputation as an outstanding central bank Governor goes before him and Court very much look forward to working with him when he joins us next July.
 
The Queen has also approved the reappointment of Charles Bean as Deputy Governor of the Bank of England for Monetary Policy from 1 July 2013.  Mr Bean has agreed to stay on for a year to help oversee the extension of the Bank of England’s responsibilities and the transition to the new Governor.  He has asked to stand down on 30 June 2014.
 
Welcoming the reappointment, the Governor said:
 
I am very pleased that Charlie has agreed to stay on for a year to assist in the transition.  He will provide valuable continuity in the crucial area of monetary policy.

HM Treasury Press Notices..

http://www.bankofengland.co.uk/publications/Pages/news/2012/130.aspx

I am happy to hear that Mark received the appointment.  It is a very high profile position.  I am happy for Mark. 

I've had the opportunity to meet him twice in Vancouver, and he's such a nice, humble person.  The search will be on for the next BoC Governor.

Nice for him.

I got a question.

Does it mean the new 20$ coming soon will have a different signatures (the successor I guess), meaning the current polymer will be valuable ? Maybe more for the 10$ and/or 5$ ?

Thanks.

Nice for him.

I got a question.

Does it mean the new 20$ coming soon will have a different signatures (the successor I guess), meaning the current polymer will be valuable ? Maybe more for the 10$ and/or 5$ ?

Thanks.

I'm sure the $20 notes will not have any value simply because so many are already printed and it will be some time before a new signature will appear

Wow, that is great news.

I'm sure the $20 notes will not have any value simply because so many are already printed and it will be some time before a new signature will appear

Yeah, we won't be seeing a new sig. on the $20 any year soon given that 500,000,000+ have been printed and that they last longer.  He isn't leaving until next summer, so I suspect even the $5 and $10 will bear Carney's signature.