Mark Carney Appointed CGFS Chairman

The central bank Governors of the Global Economy Meeting (GEM) have appointed Mark Carney as chairman of the Committee on the Global Financial System (CGFS). Carney is governor of the Bank of Canada.

Carney’s appointment as chairman of the CGFS is for a term of three years starting on 1 July 2010. He succeeds Donald L Kohn, who has been CGFS Chairman since July 2006 and is retiring as vice chairman of the Board of Governors of the Federal Reserve System.

Carney has been governor of the Bank of Canada since February 2008. After 13 years in the private sector, he was appointed deputy governor of the Bank of Canada in 2003, and then served as senior associate deputy minister of finance from 2004 until his appointment as governor of the Bank. Carney has a doctorate in economics from Oxford University.

The CGFS is a central bank forum for monitoring and examining broad issues relating to financial markets and systems, with a view to elaborating policy recommendations to support central banks in the fulfilment of their responsibilities for monetary and financial stability.

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