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
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