Mark Carney appointed chair of Bank for International Settlements groups

Mark-Carney-700x450.jpgGovernor of the Bank of England Mark Carney has been appointed chair of the Global Economy Meeting and the Economic Consultative Committee.

The Board of Directors of the Bank for International Settlements has appointed Carney following Agustín Carstens’ decision to step down as chair of the two groups when he becomes general manager of the Bank for International Settlements on the start of December.

The Global Economy Meeting, which is made up of the governors of 30 BIS member central banks in major economies, assesses the developments and risks in the world economy and the global financial system. The Economic Consultative Committee is an 18-member group that supports the work of the GEM, conducting analysis and preparing proposals for the group.

Board chairman Jens Weidmann says: “Agustín Carstens has done an outstanding job chairing these two important groups, and we thank him for his contribution. We look forward to working with Mark Carney, a long-time member of the BIS board since 2008, in his new role.”