NEWS

In case you missed it, on June 22, 2022 the Bank of Canada announced that the Deputy Governor, Timothy Lane, will retire on September 16, 2022. Deputy Governor Lane joined the central bank in August 2008 after spending 20 years with the International Monetary Fund (IMF). He was appointed Deputy Governor of the Bank of Canada in February 2009 and has overseen the analysis of the Canadian Economy, the Bank’s work on financial markets along with the Bank’s analysis of international economic developments.

The Bank of Canada is now left with the process in finding a new Deputy Governor which we begin immediately. The Board of Directors will form a selection committee to conduct the search and selection process with the assistance of a global executive recruiting firm.

The Bank of Canada’s Board of Directors has since completed a full analysis of the Deputy Governor’s role and have decided to change this role by breaking it into two Deputy Governors.

They will add an external, non-executive Deputy Governor position that is focused on contributing to the Bank’s monetary policy and financial stability mandates. This role will be considered part-time and is being advertised as a two-year contract position with the option to extend it for another year.

Sources: Bank of Canada Media Relations