Former Bank of England governor to move New York to lecture students on financial crisis and its aftermath
Sir Mervyn King, who stepped down last month as head of the Bank of England, will move to New York in the autumn to lecture students on the financial crisis and its aftermath.
King, who is understood to have accepted a lucrative six-figure contract, will spend from September to December at New York University's Stern School of Business and School of Law as a visiting professor, the NYU said on Monday.
Educated at Cambridge and Harvard before becoming a lecturer at the London School of Economics, King handed over the reigns as governor at the end of June to Canadian Mark Carney.
He became renowned during a 10-year tenure for his disdain for several senior bank chiefs, especially Bob Diamond, the former boss of Barclays. He famously told Barclays' chairman at the time that regulators had lost confidence in the American, triggering his resignation.
Peter Henry, dean of NYU Stern School of Business, said: "His more than two decades of experience at the Bank of England, encompassing his leadership through the 2008 financial crisis and its aftermath, will be a rich source of insight for the entire Stern community."
The announcement of King's New York teaching post came as he was introduced into the House of Lords as a non-party political peer. The 65-year-old, who won favour with No 10 after backing the government's austerity plan, will sit on the independent crossbenches.
He will take the title Baron King of Lothbury, in reference to the name of one of the streets flanking the Bank of England.