Macklem Next Bank of Canada Governor
CBJ — The Directors of the Bank of Canada have announced Tiff Macklem has been appointed as the new Governor of the Bank of Canada for a seven-year term, taking effect on June 3.
Macklem, 59, will succeed outgoing governor Stephen Poloz.
“After pursuing an exhaustive domestic and international selection process for this crucial role, I’m delighted to say that Tiff Macklem has the exceptional qualities to fulfil this role,” says Claire Kennedy, Chair of the Special Committee of the Board of Directors. “Tiff has deep knowledge of monetary policy and financial stability issues, a proven crisis management track record, and extensive senior leadership experience. We are confident Tiff will make an outstanding contribution to promoting the economic and financial welfare of Canada, and to upholding the Bank’s exemplary reputation as a leading central bank.”
A native of Montréal, Macklem has been Dean of the Rotman School of Management at the University of Toronto since July 2014. Prior to that, he served as the Senior Deputy Governor at the Bank of Canada between July 2010 and May 2014. Before his appointment as Senior Deputy Governor, Mr. Macklem was Associate Deputy Minister at the Department of Finance, serving as Canada’s representative at the G7, G20 and Financial Stability Board.
Macklem graduated from Queen’s University in 1983 with a bachelor’s degree in economics, and completed a master’s degree and a PhD in economics from the University of Western Ontario.
The directors jointly thanked Governor Poloz for his service and his leadership in promoting the economic and financial well being of Canada throughout his tenure.