Sir Mervyn King made life peer

clock

Sir Mervyn King, the outgoing governor of the Bank of England who has spent more than two decades at Threadneedle Street, is to be made a life peer.

Ahead of King's tenth and final Mansion House speech on Wednesday night, Downing Street confirmed that Prime Minister David Cameron had nominated the banking chief for a life peerage for his significant contribution to public service. Chancellor George Osborne praised King, who will be replaced by Canadian Mark Carney next month, for helping "lead our country through an extraordinary period". "More than that, you have been the original thinker who has taken Britain on the journey that began with inflation targeting to monetary independence and now to far reaching reforms to prudential...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

UK inflation rises to 3.8% in July

UK inflation rises to 3.8% in July

Core CPI also up to 3.8%

Sorin Dojan
clock 20 August 2025 • 2 min read
Bank of England meets expectations and cuts rates to 4%

Bank of England meets expectations and cuts rates to 4%

Lowest level in two and a half years

Isabel Baxter
clock 07 August 2025 • 4 min read
Think tank warns UK fiscal hole could surpass £50bn by 2030

Think tank warns UK fiscal hole could surpass £50bn by 2030

Government not on track to meet ‘stability rule’

Sorin Dojan
clock 06 August 2025 • 1 min read