Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

King successor Carney to be grilled by MPs

Mervyn King's successor Mark Carney will face a grilling before MPs in the Treasury Select Committee (TSC).

Carney, who takes over from King this summer, has been called before the committee on Tuesday when he will be asked about his surprise appointment as Bank of England governor, the selection process and his thoughts on monetary policy and financial stability.

Some 56 other applicants had hoped to fill King's shoes, but chancellor George Osborne said Britain had been able to 'attract the world's best' by recruiting Bank of Canada and former Goldman Sachs banker Carney for the role.

Although his attendance at the Treasury Select sees Carney follow a number of high profile individuals attending sessions - with former Barclays boss Bob Diamond, King and his deputy Paul Tucker all asked to appear in recent months - he is no stranger to being outspoken about policy changes he believes will power growth in the UK.

At the beginning of the year he vowed to put economic expansion at the top of the agenda when he takes over from King as governor, and even broached the idea of ditching inflation targeting.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Biotech Growth: we will ride out this storm

Biotech Growth: we will ride out this storm

Geoffrey Hsu of Biotech Growth Trust says the sell-off in biotechnology stocks represents a buying opportunity for long-term investors.

Play Sector Spotlight: Kleinwort Benson's Choukeir on UK equities

Sector Spotlight: Kleinwort Benson's Choukeir on UK equities

In our first Sector Spotlight of the year we explore UK equities on the back of the extreme market turbulence in 2016.

Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Your Business: Cover Star Club

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

In a buyers’ market for off-the-peg discretionary management, self-funded start-ups begin at an inherent disadvantage

Wealth Manager on Twitter