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
Humphry Morice (Governor of the Bank of England) he owned over £4,000 of Bank of England stock in 1710, making him eligible to become a director of the institution. Morice did, in fact, become a director in 1716, and continued to hold that office, He was also involved with the launch of the South Sea Company, acting as a commissioner for subscriptions in 1711. Morice several times testified on trade subjects before Parliament: in 1707 on losses in the West Indies trade due to the lack of convoys, and in 1710 and 1713 in favour of dismantling the Royal African Company's monopoly on West African trade. In light