Bank of Canada Board launches process to fill external Deputy Governor position

The Bank of Canada Board of Directors has begun a recruitment process to fill the external Deputy Governor position vacated by Nicolas Vincent’s appointment as a full-time Deputy Governor. A selection committee has been established, with recruitment firm Egon Zehnder engaged to assist in identifying candidates. The Bank highlighted the evolving economic landscape as a key factor in seeking fresh perspectives to strengthen policy deliberations and financial stability assessments.

Bank of Canada Governor Tiff Macklem emphasized the importance of bringing in policymakers with diverse skills to navigate a rapidly changing and uncertain economic environment. The external Deputy Governor role was created in 2022 to enhance monetary policy and financial stability discussions with external expertise. The position is part-time, with a two-year term and potential extensions, and involves direct contributions to policy formulation and strategic economic thinking.

External Deputy Governors serve on the Bank’s Governing Council, where they have contributed complementary experience and expertise to policy discussions. Anne Whelan, Lead Independent Director, noted the value these roles bring to enriching deliberations and shaping economic and financial policy decisions affecting Canadians. The successful candidate will have the opportunity to further influence these critical areas.

The selection committee is seeking candidates with senior-level experience in economics, finance, financial markets, or related fields, along with the ability to assess and communicate complex economic issues. Interested individuals are encouraged to review the Executive Brief for the role and contact Egon Zehnder to discuss their candidacy at the provided email address.