Central bank governors named Mark Carney as chairman of the committee on global financial systems (CGFS) at their global economy meeting in Basel this weekend.

Carney, who has been governor of the Bank of Canada since February 2008, will serve a three -year term as chairman effective July 1. He succeeds Donald Kohn, who was chairman since July 2006 and will be retiring as vice chairman of the Federal Reserve System’s board of governors.

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