Mark Carney
8th Governor of the Bank of Canada
Incumbent
Assumed office February 1, 2008
Appointed by	Stephen Harper
Preceded by	David A. Dodge
Chairman of the Financial Stability Board
Incumbent
Assumed office 4 November 2011
Preceded by	Mario Draghi
Personal details
Born	Mark J. Carney (1965-03-16) March 16, 1965 (age 47) Fort Smith, Northwest Territories
Nationality	Canada
Spouse(s)	Diana Carney (4 children)
Alma mater	Harvard University Nuffield College, Oxford
Occupation	Economist

Mark J. Carney (born March 16, 1965) is the eighth and current governor of the Bank of Canada and the Chairman of the Financial Stability Board, an institution of the G20 based in Basel, Switzerland.^[1] These appointments were on October 4, 2007 (for a seven-year term), and on November 4, 2011 (for a three-year term).^[2][3] Carney achieved these positions by working his way up the ranks of Goldman Sachs, the Canadian Department of Finance, and the Bank of Canada as Deputy Governor. Carney has been credited with shielding Canada from the worst effects of the late-2000s financial crisis, and has earned recognition by the Financial Times and TIME magazine as a top figure in the financial world.

Early life[link]

Mark Carney was born in Fort Smith, Northwest Territories. His father Bob was a high school principal there, and later a professor of education at the University of Alberta in Edmonton, Alberta, where the family moved when Carney was six years old. Carney has three siblings — older brother Sean, younger brother Brian and sister Brenda. His mother Verlie was an elementary school teacher before having her children. Carney and his brothers all studied at Harvard University.^[4]

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

Career[link]

Goldman Sachs[link]

Before joining the Canadian public service, Carney spent thirteen years with Goldman Sachs in its London, Tokyo, New York and Toronto offices. His progressively more senior positions included co-head of sovereign risk; executive director, emerging debt capital markets; and managing director, investment banking. He worked on South Africa's post-apartheid venture into international bond markets, and was involved in Goldman's work with the 1998 Russian financial crisis.^[4]

Goldman's role in the Russian crisis was criticized at the time because while the company was advising Russia it was simultaneously betting against the country's ability to repay its debt.^[6]

Department of Finance[link]

Between November 2004 and October 2007 Carney was senior associate deputy minister, and G7 deputy, at the Canadian Department of Finance. He served under Liberal finance minister Ralph Goodale and Conservative finance minister Jim Flaherty. During that time Carney oversaw the government's controversial plan to tax income trusts at source.^[7]

Carney was also the "point man" in the government's profitable sale of its 19 percent stake in Petro-Canada.^[8][9]

Bank of Canada[link]

Deputy governor, 2003-2004[link]

Carney first joined the Bank of Canada as a deputy governor on August 5, 2003.^[10] About a year later he was seconded to the federal Department of Finance as senior associate deputy minister of finance, effective November 15, 2004.^[11]

Mark Carney at the 2010 World Economic Forum, Davos, Switzerland

Governor, 2008-present[link]

Carney returned to the Bank in November 2007 after his appointment as Governor, and served as advisor to retiring Governor David Dodge before formally assuming Dodge's job on February 1, 2008.^[2] Carney was selected over Paul Jenkins, the Senior Deputy Governor, who had been considered the front-runner to succeed Dodge.^[12] Carney took on this role during the depths of the recent global financial crisis. At the time of his appointment, Carney was the youngest central bank governor among the G8 and G20 groups of nations.^[13]

The financial crisis[link]

Carney's actions as the Bank of Canada's governor are said to have played a major role in helping Canada avoid the worst impacts of the recent global financial crisis.^[14][15] The Canadian economy outperformed those of its G7 peers during the crisis, and Canada was the first G7 nation to have both its GDP and employment recover to pre-crisis levels.

The Bank's decision to provide substantial additional liquidity to the Canadian financial system,^[16] and its unusual step of announcing a commitment to keep interest rates at their lowest possible level for one year,^[17] appear to have been significant contributors to Canada's weathering of the crisis.^[18]

Canada's risk-averse fiscal and regulatory environment is also cited as a factor. In 2009 a Newsweek columnist wrote, "Canada has done more than survive this financial crisis. The country is positively thriving in it. Canadian banks are well capitalized and poised to take advantage of opportunities that American and European banks cannot seize."^[19]

Financial Stability Board[link]

On November 4, 2011, Carney was named chairman of the Basel-based Financial Stability Board. In a statement, Carney credited his appointment to "the strong reputation of Canada's financial system and the leading role that Canada has played in helping to develop many of the most important international reforms." The three-year term is a part-time commitment, allowing Carney to complete his term at the Bank of Canada. While there has been no indication of his priorities as chairman, on the day of his appointment the Board published a list of 29 banks that were considered sufficiently large as to pose a risk to the global economy should they fail.^[20][21]

Recognition[link]

Carney has earned various accolades for his leadership during the financial crisis. He was named one of the Financial Times' Fifty who will frame the way forward,^[22] and of Time magazine's 2010 TIME 100.^[23] In May 2011 Reader's Digest magazine named him Editor's Choice for Most Trusted Canadian.^[24]

He sits on the board of directors of the Bank for International Settlements and is chairman of its Committee on the Global Financial System.^[25] Carney is also a member of the Group of Thirty, an international body of leading financiers and academics.^[26]

Personal life[link]

Carney married his wife Diana, an economist specializing in developing nations, while he was finishing his doctoral thesis in the mid-1990s. They have four daughters and live in the Rockcliffe Park neighbourhood in Ottawa.^[4]

During his Harvard years, Carney was back-up goalie for the school's hockey team.^[27]

References[link]

v t e Governors of the Bank of Canada Towers Coyne Rasminsky Bouey Crow Thiessen Dodge Carney

This biographical article needs additional citations for verification. Please help by adding reliable sources. Contentious material about living persons that is unsourced or poorly sourced must be removed immediately, especially if potentially libelous or harmful. (January 2011)

Chrystia Freeland at the "The Power and Pitfalls of Popular Media?" session during the India Economic Summit 2011 in Mumbai, India

Chrystia Freeland (born 1968) has been the Global Editor-at-Large of Reuters news since March 1, 2010, having formerly been the United States managing editor at the Financial Times, based in New York City. Freeland received her undergraduate education from Harvard University, going onto St Antony's at University of Oxford as a Rhodes Scholar.^[1] She attended the United World College of the Adriatic,^[2] Italy, 1984-86.

Freeland, a Ukrainian-Canadian,^[3] was born in Alberta, Canada. Freeland has worked in Kiev, Moscow, London, Toronto and currently in New York. She is the author of Sale of the Century, a 2000 book about Russia's journey from communism to capitalism.^[1]

She lives in New York City with her husband and their three children.

She has appeared five times as a panelist on Real Time With Bill Maher, on February 26, 2010, January 14, 2011, May 27, 2011, July 15, 2011 and April 20, 2012.^[4] She has also appeared on The McLaughlin Group, The Dylan Ratigan Show, Imus in the Morning and The Colbert Report. Currently, she is periodically standing in for Arianna Huffington as a panelist on public radio's political debate program, "Left, Right & Center", produced by KCRW. (After Huffington was named president and editor-in-chief of The Huffington Post Media Group, a newly created unit of AOL, she stopped appearing every week.)

References[link]

External links[link]

• [1]
• Announcement of Freeland's "Reuters" appointment
• Chrystia Freeland's Web Page at Financial Times

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Lynn Tilton
Speaking at Horasis Annual Meeting 2011

Lynn Tilton is an American trader, investor and industrialist. Tilton is Chief Executive Officer and sole principal of Patriarch Partners, LLC and its affiliated entities, a private equity firm managing US$7 billion in assets. She is also Chairman and Chief Executive Officer of MD Helicopters Inc., a manufacturer of commercial and military helicopters.

Tilton has a BA degree in American Studies from Yale University and an MBA degree in Finance from Columbia University. She began her career at Morgan Stanley in 1981. She also worked for Goldman, Sachs & Co. and Merrill Lynch as an investment banker until 1989. Prior to founding Patriarch Partners, Tilton was an executive at Long Drive Management Trust, a special situations investment fund, and Executive Managing Director of Papillon Partners, Inc., a firm which she founded to offer customized research, valuation and execution services to sellers of bank loans and high yield bonds.

Lynn Tilton recently appeared on a 20/20 special with Barbara Walters, and she appears periodically on CNBC and is an occasional contributor to the Huffington Post.

Wikimedia Commons has media related to: Lynn Tilton

External links[link]

• Patriarch Partners
• Lynn Tilton Interview with Barbara Walters
• Lynn Tilton Owns More Companies Than Any U.S Woman
• CNBC TV Profiles - Lynn Tilton
• "Rock star" executive Lynn Tilton rescues companies — and saves jobs - Seattle Times, March 15, 2009
• A Private-Equity Boss In Four-Inch Stilettos NPR Planet Money podcast, March 30, 2010