Mark Carney: Reflecting diversity, choosing inclusion

Speech by Mr Mark Carney, Governor of the Bank of England and Chairman of the Financial Stability Board, at the Bank of England, 9 February 2017.

The views expressed in this speech are those of the speaker and not the view of the BIS.

I am grateful to Jennifer Nemeth, Anne Wetherilt and Iain de Weymarn for their assistance in preparing these remarks, and to Richard Galletly, Cat Hines and Daniel Nixon for background research. 

And there were never, in the world, two opinions alike, no more than two hairs, or two grains; their most universal quality is diversity. 

(Michel de Montaigne, Essais, Book II, Chapter 37) 

Introduction

The Bank of England recognises that to pursue its mission it must reflect the diversity of the people it serves. That has not always been the case.  Historically, there were times when this institution was run by the City for the City.  Our first female Court member, Frances Heaton was only appointed in 1993, while our first Black, Asian and Minority Ethnic (BAME) member, Lord Morris, followed five years later.  Ten years ago our graduate intake was drawn from just 11 universities.  And I am the 120th in a very long line of male Governors of the Bank.