Wilkins resigns as Bank of Canada’s deputy governor

Carolyn Wilkins, senior deputy governor of the Bank of Canada, will work her last day in that role on Dec. 9, several months before her seven-year term was originally slated to end.

It’s the second major change to the central bank’s top brass since June, when Tiff Macklem was appointed as governor to replace Stephen Poloz.

“I am immensely proud of what our team has accomplished over the years, and especially these past months to restore market functioning and support households and business during the pandemic,” said Wilkins in a Nov. 5 notice publicly announcing her resignation. “The end of the year provides for an appropriate time for me to leave the bank, so that I can explore the next chapter in my career. It also enables Governor Macklem and the board to move forward in solidifying the team that will manage the economy through recovery and achieve the longer-term goals of the Bank.”

The bank’s board of directors has started recruiting for a new senior deputy governor with the help of global executive recruiting firm Boyden.

With the approval of Finance Minister Chrystia Freeland and the federal cabinet, the bank’s independent directors will appoint the next senior deputy governor for a seven-year term.

“As the Bank’s second-in-command, the Senior Deputy Governor is delegated to act for the Governor as required and plays a key leadership role in the development of the Bank’s key policies and its corporate plan,” reads the job posting published in early November. “You must have a sophisticated understanding of economics and finance, a deep knowledge of Canada’s financial system and its major players, and superior analytical and communication skills. You must be experienced in developing and delivering on a long-term organizational plan and executing strategy while providing inspirational leadership to a diverse and inclusive organization.”

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