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BoE governor Mark Carney to assist in creation of professional standards body

Mark Carney, the governor of the Bank of England (BoE), is set to be asked to play a major role in the creation of a new professional standards authority within the UK banking sector.

According to Sky News, Sir Richard Lambert, the former Financial Times editor, who has been charged with overseeing the creation of the body, wants Mr Carney to assist in the selection of the authority's first chairman.

A note of a recent meeting between senior UK bankers and Sir Richard, which has been seen by the news provider, indicates that a small number of public figures will appoint the new chairman.

It adds: "The Board would include bankers but they would be in a minority."

Sir Richard is to publish a consultation paper containing further details of his vision for the new professional standards body in the coming days.

The news comes just a week after Mr Carney called for exemplary behaviour within the British banking sector, in a bid to repair its reputation.

By Gary Cooper