Why does it always go that when a Canadian makes it big here, they leave to conquer other markets? From Michael Cera to Shania Twain, we can’t seem to keep anyone on our side of the border. No wonder Canada has an inferiority complex.
But it doesn’t just stop with our actors and singers: our bankers are at risk, too.
Mark Carney, governor of the Bank of Canada, is allegedly being courted to lead the Bank of England.
The rumour, which Carney vigorously denied, first emerged in April, when the Financial Times reported that Canada’s central banker had been informally approached as a candidate to replace the current head of the Bank of England, who will step down in June 2013.
And yesterday, more gossip about Carney’s potential departure came up in a Bloomberg column, which argued that Carney could help give Britain a fresh start after the LIBOR scandal:
Carney, who has a British-born wife, earned a reputation for healing troubled markets while at the Canadian finance ministry. In 2007, he brokered a restructuring of about C$35 billion ($34 billion) of asset-backed commercial paper, which helped to avert a deeper crisis as the collapse of the U.S. subprime market made banks worldwide reluctant to lend.
Man, Carney sounds amazing. Have we taken him for granted all this time?
England may want to use him to help shore up Britain’s economy and redeem its scandal-ridden financial sector, but what will we do without him if he goes?
Perhaps, though, we should be flattered that Britain wants something we have. Should we trade him in for Will and Kate?
Thursday, July 26, 2012