Mark Carney (Nuffield College, 1991) has been appointed as the next Governor of the Bank of England. Approved by Her Majesty the Queen in November, Carney will take over from the current Governor, Sir Mervyn King, from July 1st 2013.

Commenting on the news, the Chancellor of the Exchequer, the Rt Hon George Osborne MP (Magdalen College, 1990), explained that Carney “is quite simply the best, most experienced and most qualified person in the world to do the job.” High praise indeed from the cabinet. It is, however, certainly true that he’s done an admirable job guiding the the Canadian economy in his current role as Governor of the Bank of Canada. In the difficult period through which he’s held the position, since 2008, he’s managed to avoid large bailouts whilst securing growth.

Before assuming his position as Governor of the Bank of Canada, Carney was Deputy Minister of Finance in Canada and Deputy Governor of the Bank of Canada. Prior to that, he worked for Goldman Sachs for thirteen years. He arrived in Oxford back in 1991 after finishing a bachelor's degree in economics at Harvard University, and secured both a Masters and Doctorate in economics while a member of Nuffield College.

Carney has indicated that he intends to serve in the position as Governor of the Bank of England for five years.