<P> Mark Carney assumed the post of Governor of the Bank of England on 1 July 2013 . He succeeded Mervyn King, who took over on 30 June 2003 . Carney, a Canadian, will serve an initial five - year term rather than the typical eight, and will seek UK citizenship . He is the first non-British citizen to hold the post . As of January 2014, the Bank also has four Deputy Governors . </P> <P> There are two main areas which are tackled by the Bank to ensure it carries out these functions efficiently: </P> <Table> <Tr> <Td> </Td> <Td> This section needs additional citations for verification . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . (July 2017) (Learn how and when to remove this template message) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This section needs additional citations for verification . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . (July 2017) (Learn how and when to remove this template message) </Td> </Tr>

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