The Straits Times
Published on Nov 27, 2012

UK names Mark Carney as new head of Bank of England


LONDON (REUTERS) - Britain named Canadian central bank chief Mark Carney as the next Bank of England (BOE) Governor, springing a major surprise by appointing a foreigner to the job.

Mr Carney, a former Goldman Sachs investment banker who successfully helped to steer the Canadian economy through the global crisis, will succeed Mr Mervyn King next year, British finance minister George Osborne told parliament.

"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," Mr Osborne said.

BOE deputy governor Paul Tucker, who had spent his entire career at the central bank, had been the hot favourite to succeed Mr King.