Sir Mervyn King will receive an honorary Doctor of Civil Law degree in recognition of his contribution to economics and public life tomorrow at a ceremony at Canterbury Cathedral.
The Bank of England governor told MPs today the culture within investment banks had started to change.
In a hearing with the Parliamentary Commission on Banking Standards, Sir Mervyn said the investment banking industry was seeing a "new generation of leadership".
But the governor, who will step down in just over seven months, said proposals to introduce ring-fences to protect high-street operations from investment divisions was still necessary.
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Any lingering showers clearing into tonight with a mostly dry but chilly night ahead. A cool but sunny start to Sunday.
Further heavy showers gradually clearing away this evening. Dry but chilly tonight, then dry with plenty of sunshine tomorrow.
Heavy showers turning potentially thundery this afternoon. Becoming dry but chilly tonight, then dry and sunny tomorrow.