Canadian will lead the Financial Stability Board
Bank of Canada governor Mark Carney has been appointed as the new chairman of the Financial Stability Board, an international financial watchdog based in Basel, Switzerland. The FSB is in charge of overhauling the global banking industry to prevent future financial meltdowns. He succeeds Mario Draghi, formerly the head of the Bank of Italy, who took the reins of the European Central Bank on November 1. Carney will continue to hold his job as Canada’s central banker as well.