Mark Carney has been appointed as the new Governor of the Bank of England and is the first non-British person to take on the role.
Mark has been noticed for his start quality and his resemblance to famous Hollywood star, George Clooney. His former colleague Scott Reid stated that “He’s got star quality and he knows how to use it.”
Mark studied economics at Oxford University as a post-graduate and worked as an investment banker for Goldman Sachs in New York before he moved back to Canada to work for the Finance Department. He also worked at Central Bank during the global financial crisis.
It is believed that the most successful Governors since WWII have been those with practical banking experience and therefore Mark’s banking background will stand him on good stead for his new role.
US economist and former member of the Bank’s Monetary Policy, DeAnne Julius stated “Outisde experience is important in this job, and as a foreigner, a broadcaster perspective may help. The Bank of England needs a cultural change. This is clear. There's an important internal as well as external dimension in terms of how he needs to lead the bank.”
DeAnne also commented saying that he thinks it is important for Mark to learn the job and get comfortable in his new role before he brings in any dramatic changes. Economist Peter Oppenheimer believes that "Banks and the people who run them must conduct their business prudently and honestly, and if they don't, you sack them.”
Mark will begin his new post as the Governor of the Bank of England on the 1st of July 2013 and will serve for five years as opposed to the usual eight.
Copyright Speakers Corner 2017