Mervyn King, Baron King of Lothbury in 1990 as a non-executive director, and became the chief economist in 1991. In 1998, he became a deputy governor of the bank and a member of the Group of Thirty. King was appointed as Governor of the Bank of England in 2003, succeeding Edward George. Most notably, he oversaw the bank during the financial crisis of 2007–2008 and the Great Recession. King retired from his office as governor in June 2013, and was succeeded by Mark Carney. He was appointed a life peer and entered the House of Lords as a crossbencher in July 2013. Since September 2014 he
Deputy Governor of the Bank of England Governor for Financial Stability for the rest of his term, and Mervyn King became the first Deputy Governor for Monetary Policy. In June 2013, the position of Chief Operating Officer (COO) of the Bank of England was created. The COO has responsibility for the day-to-day operations of the Bank. They have the same status and remuneration as a Deputy Governor. Deputy Governor of the Bank of England A Deputy Governor of the Bank of England is the holder of one of a small number of senior positions at the Bank of England, reporting directly to the Governor. According to the