Bank of Canada News: Sr. Deputy Govenor Paul Jenkins to leave the Bank

News: Welcome to the Canadian Paper Money Forum.

Just hot off the press.  Looks like we'll be having a changeover signature sometime in 2010. 

This press release is now available on the Bank of Canada’s website at:
http://www.bankofcanada.ca/en/press/2009/pr291009.html

Senior Deputy Governor Paul Jenkins will leave the Bank at the end of his term in April 2010

OTTAWA – Senior Deputy Governor Paul Jenkins has announced that he will not seek renewal of his term of office and will leave the Bank of Canada when his seven-year term expires in April 2010.

Mr. Jenkins was appointed to the role on 9 April 2003 after serving as Deputy Governor for 10 years. He began his career with the Bank in the Research Department in 1972.

Mr. Jenkins has informed the Board of Directors and the Governor that he viewed the end of his term as an opportunity to undertake new challenges.

Governor Carney saluted the outstanding contributions that Mr. Jenkins has made to the work of the Bank. "Paul Jenkins has devoted his career to the development and conduct of Canadian monetary policy and to Canada's economic policy-making role internationally. His economic leadership and skilled management as the Bank's Chief Operating Officer have reinforced the confidence that Canadians have in the Bank of Canada, in particular during the recent financial crisis." Governor Carney said. "Throughout his career, Paul has exemplified the values of the Bank."

The Senior Deputy Governor is appointed by the Board of Directors of the Bank with the approval of the Governor-in-Council (federal Cabinet). A Special Committee of the Board of Directors has been formed to launch the selection process for the next Senior Deputy Governor.

......and now introducing.........


Tiff Macklem, the former central banker who has been Finance Minister Jim Flaherty's top international adviser throughout the financial crisis, is returning to the Bank of Canada as Governor Mark Carney's second in command.

Tiff takes over July 1.

New Macklem - Carney signatures, when......, September?

Gonna be a fun summer!!!!!

Just to add further kelly b.'s comments:

The Bank of Canada's Board of Directors chose Mr. Macklem, who holds economics degrees from Queen's University and the University of Western Ontario, to replace outgoing Senior Deputy Paul Jenkins, who announced in October that he would retire when his current seven-year term expires in April.

Mr. Macklem, who first worked at the Bank of Canada for a year in 1984 before starting on his PhD studies at London, Ont.-based Western, will take up his new post July 1, the Bank of Canada said Friday.

That delay will allow Mr. Macklem, currently associate deputy minister of finance and Canada's Group of Seven deputy, to continue his role as Canada's lead negotiator at international talks aimed at avoiding a repeat of the financial crisis. Mr. Macklem is the co-chair of a group within the Group of 20 that is evaluating ways to overhaul financial regulations.

(Seems that most Bank of Canada Sr. Deputy/Governor have gone through the University of Western Ontario's Ecomonic Program.  Must be one the pre-requisites  ).