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Canadian bank head approached to replace Mervyn King

mervyn_king.jpg

Governor of Canada’s central bank Mark Carney is in the running to replace Bank of England governor Mervyn King in June next year, according to reports.

The Financial Times reports Carney has recently been approached by a member of the BoE’s court as a candidate to replace King (pictured). Carney currently heads up the global Financial Stability Board.

The FT adds the BoE wants deputy governor Charlie Bean, also due to leave next June, to stay on until after King’s successor is appointed. BoE deputy governor for financial stability Paul Tucker is still favourite to replace King, according to the paper.

If Carney was to be appointed, he would be the first foreign citizen to be appointed for 30 years. The BoE will take control of the Prudential Regulation Authority when the FSA moves to its twin peaks structure next year.

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