David Cumming, head of equities at Standard Life and one of the most influential figures in the City, said the Treasury must improve on Sir Mervyn when his second term expires in June 2013. The Chancellor has said the appointment process will officially begin in the autumn and a successor named before the end of the year.
Sir Mervyn has not ingratiated himself with the City since the financial crisis – at one point even expressing surprise that the public was not more angry with bankers. However, despite the underlying animosity, senior finance professionals have rarely spoken out so strongly against the Governor.
Mr Cumming said: “The current appointment in my view has been a disaster, so its important to get a better man this time round.” » | Philip Aldrick, Economics Editor | Monday, April 30, 2012
My comment:
Mervyn King's mission statement ought to read thus: Managed decline, and use QE to deceive people into believing that all is well.
He should have stuck to teaching geography. We'd all have been better off then. – © Mark
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