Biographical note: Mark J. Carney Mr. Carney was appointed Governor of the Bank of Canada effective 1 February 2008. As Governor, he is also Chairman of the Board of Directors of the Bank. In addition to his duties as Governor of the Bank of Canada, he serves as Chairman of the Financial Stability Board (FSB) and as a member of the Board of Directors of the Bank for International Settlements (BIS). Mr. Carney is also a member of the Group of Thirty, and of the Foundation Board of the World Economic Forum. Prior to joining the public service, Mr. Carney had a thirteen-year career with Goldman Sachs in its London, Tokyo, New York and Toronto offices: Mr. Carney began his career as an Analyst at Goldman Sachs working in the credit risk department in London from 1988 to 1990 before moving to the Tokyo office for a year. After completing his graduate work at Oxford University, Mr. Carney returned to Goldman Sachs in London with responsibilities as a Co-Head of Sovereign Risk and Executive Director, Debt Capital Markets, with responsibility for advising sovereigns in Europe, the Middle East, and Africa. In 1998, Mr. Carney transferred to become Vice President, Corporate Finance at Goldman Sachs, New York, where he worked on mergers and with corporate finance transactions. In 2000, Mr. Carney moved to Goldman Sachs in Toronto to manage investment banking relationships and where, in 2002, he was appointed a Managing Director of the firm. Mr. Carney was appointed Deputy Governor of the Bank of Canada in August 2003. In this position, he was responsible for the Bank s analysis of international economic and financial issues and their relationship to monetary policy. As a member of the Bank's Governing Council, he shared responsibility for formulating and implementing monetary policy. Mr. Carney was also a member of the Bank s Executive Management Committee. In November 2004, he left the Bank to become Senior Associate Deputy Minister of Finance and Canada s G7 and G20 deputy a position he held until his appointment as Governor of the Bank of Canada. In these roles, he helped oversee five federal budgets During his tenure as Governor of the Bank of Canada, Mr. Carney was appointed Chair of the BIS s Committee on the Global Financial System and Chair of the Audit Committee of the BIS. He was named one of the Financial Times' Fifty who will frame the way forward, one of Time magazine's 2010 TIME 100, Reader's Digest Editor's Choice for Most Trusted Canadian and Central Bank Governor of the Year 2012 by the editors of Euromoney magazine. Born in Fort Smith, Northwest Territories, Mr. Carney received a bachelor s degree in economics from Harvard University in 1988. He received a master s degree in economics in 1993 and a doctorate in economics in 1995, both from Oxford University.
Key Publications and Speeches 2012 Guidance. Speech to the CFA Society Toronto, Toronto, Ontario, 11 December 2012. Some Current Issues in Financial Reform. Speech to the Canadian Club of Montreal, Montreal, Québec, 7 November 2012. Uncertainty and the Global Recovery. Speech to the Vancouver Island Economic Alliance, Nanaimo, British Columbia, 15 October 2012. Dutch Disease. Speech to the Spruce Meadows Round Table, Calgary, Alberta, 7 September 2012. Globalisation, Financial Stability and Employment. Speech to the Canadian Auto Workers, Toronto, Ontario, 22 August 2012. Financing the Global Transition. Speech to the Atlantic Institute for Market Studies, Halifax, Nova Scotia, 21 June 2012. Economic Outlook. Presentation to the Ottawa Chamber of Commerce and Ottawa Business Journal, Ottawa, Ontario, 27 April 2012. Exporting in a Post-Crisis World. Speech to the Greater Kitchener Waterloo Chamber of Commerce, Waterloo, Ontario, 2 April 2012. A Monetary Policy Framework for All Seasons. Speech to the U.S. Monetary Policy Forum, New York, New York, 24 February 2012. Bank of Canada Submits Comments to U.S. Regulators regarding Joint Proposal on Prohibitions and Restrictions on Proprietary Trading. Comments submitted to U.S. Regulators regarding the Dodd-Frank Act, 13 February 2012. Davos Panel Global Economic Outlook 2012. Comments at the World Economic Forum Annual Meeting, Davos, Switzerland, 28 January 2012. 2011 Growth in the Age of Deleveraging. Speech to the Empire Club of Canada and the Canadian Club of Toronto, Toronto, Ontario, 12 December 2011. Renewing Canada s Monetary Policy Framework. Speech to the Board of Trade of Metropolitan Montreal, Montreal, Québec, 23 November 2011. Global Liquidity. Speech to the Canada-United Kingdom Chamber of Commerce, London, UK, 8 November 2011. Some Current Issues in Financial Reform. Speech to the Institute of International Finance, Washington D.C., 25 September 2011.
Recent Economic Developments. Speech to the Saint John Board of Trade, Saint John, New Brunswick, 20 September 2011. Housing in Canada. Speech to the Vancouver Board of Trade, Vancouver, British Columbia, 15 June 2011. Canada in a Multi-Polar World. Speech to the Canadian Club of Ottawa, Ottawa, Ontario, 16 May 2011. Monetary Policy and Resource Mobility. Presentation at the Bank of Finland s 200 th Anniversary Conference, Helsinki, Finland, 6 May 2011. The Paradigm Shifts: Global Imbalances, Policy, and Latin America. Speech to the Inter- American Development Bank, Calgary, Alberta, 26 March 2011. 2010 Living with Low for Long. Speech to the Economic Club of Canada, Toronto, Ontario, 13 December 2010. Looking Back, Moving Forward: Canada and Global Financial Reform. Speech to the International Center for Monetary and Banking Studies, Geneva, Switzerland, 9 November 2010. Employment in a Modest Recovery. Speech to the Windsor-Essex Regional Chamber of Commerce and the Giovanni Caboto Club, Windsor, Ontario, 30 September 2010. Bundesbank Lecture 2010: The Economic Consequences of the Reforms. Speech to the Deutsche Bundesbank, Berlin, Germany, 14 September 2010. Restoring Faith in the International Monetary System. Speech to the Spruce Meadows Changing Fortunes Round Table, Calgary, Alberta, 10 September 2010. Fortune Favours the Bold. Speech to the Newfoundland Oil & Gas Industries Association, St. John s, Newfoundland and Labrador, 18 June 2010. The G-20 s Core Agenda to Reduce Systemic Risk. Speech to the International Organization of Securities Commissions, Montreal, Québec, 10 June 2010. The Virtue of Productivity in a Wicked World. Speech to the Ottawa Economics Association, Ottawa, Ontario, 24 March 2010. Principles for Interesting Times. Speech to Carleton University, Ottawa, Ontario, 11 March 2010. The Coming Thaw. Speech to the Winnipeg Chamber of Commerce, Winnipeg, Manitoba, 4 February 2010. 2009
Current Issues in Household Finances. Speech to the National Forum, Toronto, Ontario, 16 December 2009. The Evolution of the International Monetary System. Speech to the Foreign Policy Association, New York, New York, 19 November 2009. Reforming the Global Financial System. Speech to the Autorité des marchés financiers, Montreal, Québec, 26 October 2009. The Three Rs: Review, Reflect, and Reaffirm. Speech to the Greater Victoria Chamber of Commerce, Victoria, British Columbia, 28 September 2009. Some Considerations on Using Monetary Policy to Stabilize Economic Activity. Speech at the symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, 22 August 2009. Building a Resilient Financial System: Lessons from Canada. Speech to the Canadian Financial Forum, Beijing, China, 11 August 2009. From Green Shoots to the Harvest: Comments on Financial Stability. Speech to the Regina & District Chamber of Commerce, Regina, Saskatchewan, 18 June 2009. Rebalancing the Economy. Speech to the International Economic Forum of the Americas, Montreal, Québec, 11 June 2009. Rebuilding Confidence in the Global Economy. Speech to the Northwest Territories Chamber of Commerce and the Yellowknife Chamber of Commerce, Yellowknife, Northwest Territories, 1 April 2009. What Are Banks Really For? Speech to the University of Alberta School of Business, Edmonton, Alberta, 30 March 2009. Inflation Targeting in a Global Recession. Speech to the Halifax Chamber of Commerce, Halifax, Nova Scotia, 27 January 2009. 2008 From Hindsight to Foresight. Speech to Women in Capital Markets, Toronto, Ontario, 17 December 2008. Building Continuous Markets. Speech to the Canada United Kingdom Chamber of Commerce, London, England, 19 November 2008. Reflections on Recent International Economic Developments. Speech to the Canadian Club of Montreal, Montreal, Québec, 25 September 2008. Flexibility versus Credibility in Inflation-Targeting Frameworks. Speech to the BIS, Lucerne, Switzerland, 27 June 2008.
Capitalizing on the Commodity Boom: the Role of Monetary Policy. Speech to the Haskayne School of Business, Calgary, Alberta, 19 June 2008. Principles for Liquid Markets. Speech to the New York Association for Business Economics, New York, New York, 22 May 2008. Addressing Financial Market Turbulence. Speech to the Toronto Board of Trade, Toronto, Ontario, 13 March 2008. The Implications of Globalization for the Economy and Public Policy. Speech to the British Columbia Chamber of the Commerce and the Business Council of British Columbia, Vancouver, British Columbia, 18 February 2008. 2004 The New International Monetary Order. Speech to the Toronto Society of Financial Analysts, 23 November 2004. Published in The Bank of Canada Review: Winter 2004-2005. Note: All speeches as Governor of the Bank of Canada are published on the Bank of Canada s website (http://www.bankofcanada.ca/publications-research/speeches/). December 2012