banking and capital markets
December 22, 2012
BofE Governor Won’t Be an Easy Post for Canadian Carney
Next July, Bank of Canada governor Mark Carney takes over as head of the Bank of England. The Goldman Sachs alumnus will inherit a sluggish U.K. economy and a battle with euro zone countries over the European banking union.
By Neil Sen
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For a former Goldman Sachs banker from North America, Bank of Canada governor Mark Carney gets remarkably good press in the U.K. Expectations are high for Carney’s next posting as governor of the Bank of England. The first foreigner to take on the role, he’s untouched by the Libor scandal that has stained the reputation of some domestic contenders. As chairman of the Basel-based Financial Stability Board, he has strong reformist credentials. But it’s not clear how Carney, 47, can rescue the economy or protect British interests....