Mark Carney Profile: Incoming Bank of England Governor

UK Chancellor George Osborne will get the chance to meet the next head of the Bank of England, Mark Carney, at the G7 meeting today.

IBTimes UK decided to take a look at the current Bank of Canada governor, who will become head of the BoE on 1 July 2013.

Name:

Mark Carney

Age:

16<sup>th March 1965

Nationality:

Born in Canada

Family History:

Carney is married to British-born Diana who is an economist and vice-president of research at the Ottawa-based think tank Canada 2020.

They have four children together.

Carney is the third of four children. His father was a principal at a highschool and his mother, Verlie, was a homemaker.

When Carney was six, his family left the North and settled in Edmonton where his father Bob got a job as a public servant in Indian and Northern Affairs with the Alberta government.

Bob later became a professor of education history at the University of Alberta and Verlie went back to university to redo her teaching degree.

Education:

1988 - Harvard University - Bachelor's degree in economics

1993 - Oxford University - Master's degree in economics

1995 - Oxford University - Doctorate in Economics

Current Position:

Carney will stay in his position as Bank of Canada's governor until 1 June where he has served five years of his seven-year term.

He is the eighth governor at Canada's central bank.

In addition to his current duties, he serves as Chairman of the Financial Stability Board (FSB) and as a member of the Board of Directors of the Bank for International Settlements (BIS).

He has been instrumental in leading economies to introduce and coordinate a raft of new financial regulations.

Carney is also a member of the Group of Thirty, and of the Foundation Board of the World Economic Forum.

New Position:

On 26 November 2012, the Bank of Canada announced that Her Majesty the Queen had approved the appointment of Mark Carney as Governor of the Bank of England.

He will replacing Sir Mervyn King on 1 July 2013.

He will be the first non-British governor of the Bank of England.

Career Path:

Worked for 13 years at Goldman Sachsand worked in the investment bank's London, Tokyo, New York and Toronto offices.

Carney was originally appointed deputy governor of the Bank of Canada in 2003 but left in November 2004 for a senior position in Canada's finance department.

Time magazine named Carney as one of the world's most influential people in 2010 for helping keep the country's banks safe through the global financial crisis.

Carney returned to Canada's central bank in 2008 as governor.