Yahoo Finance Former Bank of England governor Lord Mervyn King named as next MCC president
The former governor of the Bank of England, Lord Mervyn King, has been unveiled as the next president of the Marylebone Cricket Club (MCC), home to Lord’s.
King, who led Threadneedle street between July 2003 to 2013, called the appointment an ” extraordinary honour”, and will take over from current head, former professional player Mark Nicholas,
His appointment comes as the MCC has appointed presidents of late which break with tradition, including Sri Lanka legend Kumar Sangakkara and former England women’s captain, Charlotte Edwards.
Formally known as Lord King of Lothbury, he will become the next President of MCC on 1 October 2024, after being nominated at the historic cricket club’s 237th AGM.
Lord King said of his appointment: “It is an extraordinary honour to be asked by our current President to serve as the next President of MCC. I look forward to serving the Club and to promote the interests of our Members and of the game so many of us love.”
Mervyn King career
King is an economist who was Governor of the Bank of England for a decade between 2003 and 2013, having joined in 1991.
During his time in the role, he oversaw new Labour, the financial crash in 2008 and half of the coalition government.
In response to the crisis in 2008, King and the Monetary Policy Committee cut interest rates to almost zero, and claimed this helped to prevent a depression in the UK, even though Britain did enter a recession.
Following his time as Governor, where he was succeeded by Mark Carney, which he entered the House of Lords having been made a life peer, and was also appointed as a Knight of the Garter in 2014 by Her Late Majesty, Queen Elizabeth.
The MCC said he has been a member since 2003, and was also previously president of his local county side, Worcestershire in 2015.
King also co-founded Chance to Shine in 2005, along with Nicholas and the late Duncan Fearnley. It is a charity which seeks to give schoolchildren the chance to play cricket, with more than six million kids having taken part.
Sport fan
MCC President Mark Nicholas said: “There are few better people to fulfil the role of MCC President. Mervyn’s love of cricket knows no boundary; indeed, his love of sport extends to an equally enthusiastic enjoyment of both football and tennis. His calm authority and considerable wisdom carried the country through the global financial crisis of 2008 and now I feel sure that he will bring the MCC membership with him through a time of great interest and opportunity at the Club.
“Together we founded Chance to Shine in 2005. Since then, more than 6 million children, who would most likely not have played cricket have had the chance to do so. This makes us both so very proud. I can’t wait to stand alongside him again.”
