Carney welcomes nomination of former colleague Stanley Fischer as Fed vice chair

Bank of England governor Mark Carney has shared some kind words for a former colleague, Stanley Fischer (pictured).

Carney says that he is "delighted by the prospect of Stan Fischer re-joining the global community of central bankers" as Fischer was nominated to the position of Federal Reserve vice chairman by US President Barack Obama today.

I had the enormous privilege of working closely with him when Governor of the Bank of Canada and as Chairman of the Financial Stability Board.

I have found Stan to be an immense source of insight and wisdom on issues ranging from crisis management to the conduct of monetary policy and the reform of the global financial system.

Fischer served as the governor of the Bank of Israel from 2005 to 2013, before which he worked as vice chairman of Citigroup from 2002 through 2005.

Obama said that "Stanley Fischer brings decades of leadership and expertise from various roles" and that he is "widely acknowledged as one of the world’s leading and most experienced economic policy minds".