Mark J. Carney

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Mark J. Carney
Mark Carney.jpg
Occupation Vice Chairman and Head of Impact Investing
Employer Brookfield Asset Management

Mark J. Carney is the former head of the central banks of the U.K. and Canada. He was the 120th governor of the Bank of England from 2013 to 2020 and the governor of the Bank of Canada from 2008 to 2013.[1] [2] [3] He was also the United Nations’ special envoy on climate action and finance.

In October 2020, he became vice chairman and head of Impact Investing at Brookfield Asset Management.

In January 2022 he was appointed senior counselor at Macro Advisory Partners, a consulting firm.[4]

He was also chairman of the Monetary Policy Committee, Financial Policy Committee and the board of the Prudential Regulation Authority. His appointment as the U.K. central bank's governor was approved by Her Majesty the Queen of England on November 26, 2012, and he joined the bank on July 1, 2013. He also served as chairman of the G-20's Financial Stability Board from 2011 to 2018, and as a board member of the Bank for International Settlements (BIS).

The Bank of Canada and the UK have similar monetary policy regimes. The Bank of Canada targets the midpoint of a one percent to three percent inflation range and undertakes similar quarterly forecasting exercises.[5]

Background[edit]

Carney began his career in 1988 as an analyst in the London office of Goldman Sachs. Over the next 13 years, he held a variety of positions at the investment bank including co-head of sovereign risk, executive director of debt capital markets, VP of corporate finance, and managing director.[6]

In August 2003, Carney was appointed Deputy Governor of the Bank of Canada in August 2003. In November 2004, he was appointed Senior Associate Deputy Minister of Finance, and held that position until February 2008, when he became Governor of the Bank of Canada.[7]

Education[edit]

Carney received a bachelor’s degree in Economics from Harvard University in 1988. He received a master’s degree in Economics in 1993 and a doctorate in Economics in 1995, both from Oxford University.[8]

References[edit]