Mark Carney

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Mark J. Carney (born March 16, 1965 in Fort Smith, Northwest Territories[1]) is adviser to David A. Dodge, the governor of the Bank of Canada. He has been appointed as governor of the bank, effective February 1, 2008.[2][3] At that time, he will be the youngest of any central bank governor within the G8 nations.[4]

Contents

[edit] Biography

Carney completed a bachelor's degree in economics from Harvard University in 1988. He attended Oxford University, where he received a master's degree in economics in 1993, and a doctorate in economics in 1995.[5]

Before joining the public service, Carney had a thirteen-year career with Goldman Sachs in its London, Tokyo, New York and Toronto offices. His progressively senior positions included co-head of sovereign risk; executive director, emerging debt capital markets; and managing director, investment banking.

[edit] Department of Finance

While at the Department of Finance, Carney oversaw the Federal Conservative government's plan to tax Income Trusts at source. The Department of Finance also eliminated a 15% withholding tax on foreign leverage buyout loans and created capital insertion rules that restricted growth on Canadian trusts. These changes assertedly created conditions that favored foreign entities which purchased Canadian Income Trusts and were not required to comply with rules that restricted growth.[6][7]

[edit] Bank of Canada

MPs on the Finance Committee reviewed the appointment on December 5, 2007. [8] During the hearing, MP's Thomas Mulcair and Garth Turner questioned Mark Carney on his role as adviser to Jim Flaherty and Ralph Goodale and advice Carney gave relating to Income trusts.

[edit] References

  1. ^ Bank of Canada's Mark J. Carney Biography
  2. ^ Bank of Canada Press Release
  3. ^ New Bank of Canada governor named
  4. ^ Vieira, Paul. "Carney vaults over heir apparent for Bank of Canada top job", National Post, 2007-10-04. Retrieved on 2008-01-04. 
  5. ^ "Mark Carney named next Bank of Canada governor", CBC News, 2007-10-04. Retrieved on 2008-01-04. 
  6. ^ Taxes, and avoiding them, on everyone's tongue - Foreign Takeovers
  7. ^ Income trust buyouts: Lots of activity, little tax revenue
  8. ^ Canadian Lawmakers Want Review of New Bank Governor
v • d • e
Governors of the Bank of Canada
Towers · Coyne · Rasminsky · Bouey · Crow · Thiessen · Dodge · Mark Carney (designate)


Persondata
NAME Carney, Mark
ALTERNATIVE NAMES
SHORT DESCRIPTION Governor of the Bank of Canada (designate)
DATE OF BIRTH March 16, 1965
PLACE OF BIRTH Fort Smith, Northwest Territories, Canada
DATE OF DEATH
PLACE OF DEATH
Retrieved from "http://india.smashits.com/wikipedia/Mark_Carney"
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