Economy

Mark Carney appointed chair of Bank for International Settlements groups

Mark Carney appointed chair of Bank for International Settlements groups”

Bank of England governor Mark Carney has been appointed as the chair of two influential committees at the global regulator known as the bank of central banks.

Carney was governor of the Bank of Canada from 2008 to 2013, when he took over as head of the BoE.

BIS acts as an arbiter for worldwide central banking and is made up of a consortium of central bankers from around the world.

Bank of England governor Mark Carney's influence on global financial reform will grow as he takes the reins of two pivotal groups for the body that oversees worldwide central banks, according to a Monday announcement.

Formed on an 18-strong team, the ECC supports the work of the GEM, conducting analysis and prepares proposals for its consideration.

Carney already chairs the Financial Stability Board at the BIS in Basel.

In addition to these duties, he heads the Board of the Prudential Regulation Authority and also serves as a member of the Group of Thirty and of the Foundation Board of the World Economic Forum.

He starts in December, when Augustin Carstens, who now chairs both bodies, becomes general manager of the BIS.



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