Mark Carney, governor of the Bank of England, has been elected first vice-chair of the European Systemic Risk Board (“ESRB”) by the members of the general council of the European Central Bank, for a term of five years.
Mr. Carney replaces Lord King, who retired as governor of the Bank of England on June 30, 2013.
The ESRB, which is an independent European Union (“EU”) body responsible for the macro-prudential oversight of the financial system within the EU, is chaired by the ECB's president, Mario Draghi.
Mr. Carney is governor of the Bank of England and chairman of the monetary policy committee, financial policy committee, and the board of the Prudential Regulation Authority. His appointment as governor was approved by Her Majesty the Queen on November 26, 2012. Mr. Carney joined the Bank of England on July 1, 2013.
In addition to his duties as governor of the Bank of England, he serves as chairman of the Financial Stability Board. He is also a member of the Group of Thirty and of the Foundation Board of the World Economic Forum.
Mr. Carney was born in Fort Smith, Northwest Territories, Canada, in 1965. He received a bachelor's degree in economics from Harvard University in 1988. He went on to receive a master's degree in economics in 1993 and a doctorate in economics in 1995, both from Oxford University.
After a 13 year career with Goldman Sachs in its London, Tokyo, New York, and Toronto offices, Mr. Carney was appointed deputy governor of the Bank of Canada in August 2003. In November 2004, he left the Bank of Canada to become senior associate deputy minister of finance. He held this position until his appointment as governor of the Bank of Canada on February 1, 2008. Mr. Carney served as governor of the Bank of Canada and chairman of its board of directors until June 1, 2013.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].