Mervyn King, Baron King of Lothbury banks", pinpointing the banks' sense of grievance on their finding it "very, very difficult to face up to the failure of their banking model". With King's term as governor ending in 2013, top UK banks have warned that unless a less "hostile" figure is found as a successor, they may feel it necessary to move abroad. On 26 November 2012, Mark Carney was named as King's successor. King had faced accusations of refusing funding to the Northern Rock Bank, precipitating a run on that bank, a situation not seen in the UK since 1914. King later said that it had
Mervyn King (judge) Mervyn King (judge) Mervyn Eldred King (born 22 July 1937, Johannesburg) is a South African corporate attorney, arbitrator, mediator, corporate director, commission chair, author and speaker. A former judge of the Supreme Court of South Africa, he is currently chairman of the IIRC, chairman emeritus of the Global Reporting Initiative and director of the Association of Business Administrators of Southern Africa. He is best known for chairing the King Committee on Corporate Governance, which issued three comprehensive reports in 1994, 2002 and 2009 endorsing an integrated and inclusive approach to corporate governance in South Africa. King was born on 22