Bloomberg News

Carney Choice for BOE Underplays U.K. Talent Pool, Wellink Says

December 02, 2012

The U.K.’s choice of Bank of Canada Governor Mark Carney to lead the Bank of England was surprising given the breadth of local talent already available, said Dutch Central Bank President Nout Wellink.

“I don’t why they haven’t chosen excellent people in the U.K.,” Wellink said in a Nov. 30 interview on Bloomberg Television in Frankfurt. “I don’t know whether that is a political decision, but Mark Carney is an excellent governor. It might not be easy for him in the years to come.”

Chancellor of the Exchequer George Osborne announced on Nov. 26 that Carney would replace Mervyn King after his term ends in June. U.K. officials who applied for the job included Bank of England Deputy Governor Paul Tucker, who was the front- runner for the job at bookmakers, and Financial Services Authority Chairman Adair Turner.

“It did surprise me,” Wellink said. “I know him, I have seen him operating in the G-10, the G-20 and other fora. He’s an excellent choice.”

To contact the reporters on this story: Jennifer Ryan in London at jryan13@bloomberg.net; Mark Barton in London at barton1@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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