Mervyn King takes over as governor of the Bank of England today [Tuesday 1 July].
Professor King was previously an academic at LSE. He joined the School in 1984, and was a Professor of Economics until 1995.
He was appointed deputy governor of the Bank of England in 1997 and took up his position on 1 June 1998. Before that he was the Bank of England's chief economist and executive director since joining the Bank in March 1991. He was a non-executive director of the Bank from 1990 to 1991. He will take over as governor of the Bank on 1 July on the retirement of Sir Edward George.
At a ceremony later this month, Mervyn King will also be presented as an honorary fellow of LSE, an award recognising those past or present members of the School who have attained distinction in the arts, science or public life. The School currently has around 150 honorary fellows.
In addition, LSE alumna Rachel Lomax takes over from today as deputy governor of the Bank of England. She graduated from LSE in 1968 with an MSc in Economics. Professor Charles Bean, a long serving LSE professor, is currently executive director and chief economist at the Bank, and Professor Stephen Nickell, School Professor of Economics at LSE, has served as a part-time member of the Monetary Policy Committee since June 2000.
Professor Richard Jackman, convenor of the Department of Economics at LSE, said: 'We wish both Mervyn and Rachel well in their new roles. With four LSE-connected people on the Monetary Policy Committee, the School can be seen to have a decisive influence on UK monetary policy.'
1 July 2003