Wed, Nov 28, 2012 - Page 15 News List

Canadian lands Bank of England job

FOREIGN FIRST:Mark Carney was a surprise choice for Bank of England governor, having not initially applied for the position that Mervyn King will vacate next year

AP, LONDON

Paul Tucker, one of the two deputy governors of the Bank of England, had been the betting favorite to become governor. Osborne said he hoped Tucker would remain at the bank, adding that he had extended the term of the other deputy, Charles Bean, for another year until mid-2014.

With Bean’s time running short and a disappointed Tucker possibly ready to leave, “today’s appointment could well usher in a period of significant upheaval at the Bank of England,” Investec Securities chief economist Philip Shaw said.

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