In the build-up to his crowning, his old Oxford tutor was rolled out to tell us how exceptionally bright he was as a student, how conservative as a dresser and how thoughtful he was and is.
All this on top of chancellor George Osborne, in announcing his appointment, telling parliament and the nation that he was the best central banker of his generation. Of course, it goes without saying, that we all wish the new governor well and every success in his new appointment.
But, in an attempt to be positive, we must not forget some of the ballast that has been thrown overboard.
Adair Turner has his critics, many of them Financial Adviser readers, but we still believe that Adair Turner is the Beveridge of his generation, the outstanding social thinker. Many of us still remember the powerful injection of new thinking when he published the first volume of his monumental study of UK pensions.
There is little doubt that Mark Carney is outstanding, both as an academic and as a former practitioner at Goldman SachsAs chairman of the FSA, whatever its faults, and there were many, his contribution to the ongoing debate about the reform of the macro-economy was outstanding.
Praise for Lord Turner, however, must not rule out the steady contribution of Paul Tucker, nor indeed the overall performance of the Bank during the banking turmoil and subsequent recession.
We said then, and say again, that the Bank did a decent job in difficult circumstances, and Lord King was steadfast in his stewardship. There is little doubt that Mark Carney is outstanding, both as an academic and as a former practitioner at Goldman Sachs; there is also little doubt that Canada escaped the stormy winds of the 2007/8 global banking crisis.
However, we must ask ourselves why? Mr Carney’s promotion can be compared with that of moving a Championship manager to the Premiership. At this stage we can only mark his report card as showing promise.
We now have to wait and see how he performs now he is playing with the big boys.
