Carney Gets New Aide in Proving Ground for BOE Rising Stars

(Bloomberg) -- Mark Carney has a new right-hand man in a position that’s previously been a stepping stone to the highest ranks at the Bank of England.

James Benford has taken up the role of Carney’s private secretary, the aide in charge of his office, replacing Iain de Weymarn, who held the post since 2015.

The post has long been a route to more senior roles within the central bank and was given the title “unofficial governor” by one lawmaker. Previous holders include Executive Director for Financial Stability Alex Brazier and Andrew Bailey, who’s seen as one of the contenders to succeed Carney next year.

Benford studied at Cambridge University and the London School of Economics before joining the central bank in 2005, according to his LinkedIn profile.

At the BOE, he’s worked in the forecasting and risk assessment divisions and also been private secretary to the deputy governor for financial stability. He was most recently head of global spillovers and interconnections, looking at how developments in the world economy impact the U.K.

The BOE confirmed Benford’s appointment to the position, which is the equivalent management grade to director. Other previous holders of the post who went on to more senior roles include Spencer Dale, chief economist under Mervyn King, and Paul Tucker, who was among the front runners to replace King. Leslie O’Brien, who was governor from 1966 to 1973, also served as private secretary, to Montagu Norman.

--With assistance from Scott Hamilton

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net.

To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Kevin Costelloe, Andrew Atkinson

©2018 Bloomberg L.P.