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Canadian to lead Bank of England
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ucking tradition, the British government on Monday announced that Mark Carney, the head of the Bank of Canada, would succeed Mervyn King as the governor of the Bank of England. Carney will be the first foreigner to ever lead the 318-year-old central bank, and will be charged with steering the country's financial system as it continues to struggle with a weak economic recovery and an ongoing euro crisis. Analysts say Carney got the job because of his strong track record in Canada, whose banking system was one of the few to thrive during the financial crisis. In addition, many British candidates for the job — including Paul Tucker, the deputy governor at the Bank of England — have been tainted by an interest-rate-rigging scandal.

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