Canada’s Carney Chosen to Replace King as Governor of BOE

Bank of Canada Governor Mark Carney was unexpectedly named head of the Bank of England as the U.K. government looked abroad for a candidate untainted by financial turmoil to lead the beefed-up central bank.

Carney, a 47-year-old former Goldman Sachs Group Inc. managing director, will become the first foreigner to run the 318-year-old institution as it absorbs new powers to oversee banks. He’ll replace Mervyn King, 64, in July as policy makers pursue record-low interest rates and asset-buying to propel the economy from its first double-dip recession since the 1970s.