Corrigan, who is currently deputy news editor, started at the FT in 1990 and has since held several posts, including New York correspondent, deputy editor of Lex and head of capital markets.
She succeeds Chrystia Freeland who, following the successful redesign of FT.com and the introduction of subscription services, has been appointed editor of the Weekend FT.
Carr, who has been at the FT for two-and-a-half years, is currently world news editor in charge of the paper's international news pages. He started at the newspaper as editor of the daily business features section Inside Track. Before that, he spent 13 years at The Economist, holding reporting and editing positions including, latterly, business editor. Carr replaces William Lewis, who is moving to become business editor of The Sunday Times.
Andrew Gowers, editor of the Financial Times, said: "I am thrilled to be able to strengthen our top editorial management team with these two appointments. Ed Carr is a brilliant all-rounder, with extensive business reporting and editing experience and bags of energy. He is just the right person to take our all-important news operation to even greater heights.
"Tracy Corrigan has done a number of key reporting and editing jobs with sharpness and distinction. Ed and Tracy will work together to take the already impressive integration of newspaper and FT.com operations to completion."
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