06/08
30 January 2008
Bank of England: Governor
Her Majesty the Queen has been pleased to approve, under the Bank of England Act 1998, that Mervyn King be re-appointed Governor of the Bank of England for a period of five years when his present term of office expires on 30 June 2008.
Welcoming the re-appointment the Chancellor said:
"I am delighted that Mervyn King has been appointed as the Governor of the Bank of England for a further five year term. He has played a key role in delivering macroeconomic stability in the UK, and his leadership and experience will continue to prove invaluable to the Bank of England."
Notes to editors
1. Mervyn King was first appointed as the Governor of the Bank of England on 1 July 2003 for a period of five years. In this role he is also Chairman of the Monetary Policy Committee. He was previously Deputy Governor from 1998 to 2003, and Chief Economist and Executive Director from 1991. Mervyn King was a non-executive director of the Bank from 1990 to 1991.
2. Born in 1948, Mervyn King studied at King's College, Cambridge, and Harvard (as a Kennedy Scholar) and taught at Cambridge and Birmingham Universities before spells as Visiting Professor at both Harvard University and MIT. From October 1984 he was Professor of Economics at the London School of Economics where he founded the Financial Markets Group.
3. Mervyn King is a Fellow of the British Academy, an Honorary Fellow of King's and St John's Colleges, Cambridge and holds honorary degrees from Birmingham, City of London, Edinburgh, London Guildhall, London School of Economics, Wolverhampton, Cambridge and Helsinki Universities. He is a Foreign Honorary Member of the American Academy of Arts and Sciences, is on the Advisory Council of the London Symphony Orchestra, is Patron of Worcestershire County Cricket Club and is a Trustee of the National Gallery.
4. Under the Bank of England Act 1998 the Governor of the Bank of England is appointed by Her Majesty the Queen on advice from the Prime Minister, who is in turn advised by the Chancellor of the Exchequer. The appointment is for a period of five years.
5. Media enquiries should be addressed to the Treasury Press Office on 020 7270 5238.
6. Non-media enquiries should be addressed to the Treasury Correspondence and Enquiry Unit on 020 7270 4558, or by e-mail to public.enquiries@hm-treasury.gov.uk
7. Further information on Mervyn King can be obtained from the Bank of England Press Office.