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News from City, University of London

Mark Carney sets out his vision for the Bank of England

Bank Governor gives the annual Mais lecture at Cass

Mark Carney, the Governor of the Bank of England set out his vision for the Bank at Cass Business School, part of City University London, last night.

Mark Carney, Governer of Bank of EnglandCarney gave Cass's annual Mais Lecture, an event that has hosted every Bank of England governor since the lecture started more than three decades ago.

He used the occasion to lay out the next stage of his radical revamp of the bank - a three-century-old institution.

This includes the appointment of Ben Broadbent as Deputy Governor for monetary policy and Nemat Shafik in the new role of Deputy Governor for markets and banking.

Additionally he will create six new executive roles to strengthen operations as well as an "independent evaluation unit" to enforce accountability.

Carney also plans to streamline the Bank's functions to ensure effective communication between departments.

He said these "transformative" changes would help Britain to avoid a repeat of the 2008 financial crisis.

At the event, Carney was introduced by Professor Sir Paul Curran, Vice-Chancellor of City University London, and Professor Steven Haberman, Dean of the Business School.

Watch Mark Carney's lecture or read more about it:

BBC News story

Telegraph news story

The Independent news story

The Guardian news story

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