Welby was also recently appointed to the U.K. Parliamentary Commission on Banking Standards, which is examining possible reforms of the industry, and he serves as ethical adviser to the Association of Corporate Treasurers.
He has denounced multi-million executive pay packages in big British companies as "obscene" and has said the Occupy movement "reflects a deep-seated sense that something is wrong."
Before seeking ordination, Welby spent six years with French oil company Elf Aquitaine and then as treasurer of exploration company Enterprise Oil in 1984. He resigned in 1989.
Following ordination in 1993. he was a parish priest for nine years before moving to Coventry Cathedral, as co-director of international ministry. In 2005, he became co-director of the cathedral's conflict reconciliation ministry in Africa.
He estimates he has visited Africa 60 times since 2002, involved in reconciliation efforts between Christians and Muslims in northern Nigeria, and in the Niger Delta where tensions are high between residents and the oil industry.
He has spoken of having to "establish relationships with killers and with the families of their victims, with arms smugglers, corrupt officials and more."
Bishop Brighton Malasa, chairman of the Anglican church in Malawi, said he had met Welby and found him to be a good man, a humble person, so cool."
In 2007 he was appointed dean of Liverpool Cathedral, Britain's largest church. He caused a bit of controversy there by allowing John Lennon's "Imagine" to be played on the cathedral bells.
Welby is an enthusiastic user of Twitter, a tool he intends to use as archbishop "if I am not stopped forcibly."
He and his wife, Caroline, have two sons and three daughters. Their first child, a 7-month-old girl, was killed in a traffic accident in 1983.
Associated Press Writers Jill Lawless in London and Raphael Tenthani in Blantyre, Malawi contributed to this report.