BoC names new deputy governor

first_img TD getting new head of private wealth, financial planning James Langton Since June 2013, Patterson has served as special adviser to the governor and senior representative for financial markets in the bank’s Toronto office, where she was the bank’s primary liaison with Bay Street and contributed to the bank’s analysis of financial markets, institutions, products and regulations. In her new role, she will divide her time between Toronto and Ottawa. Before joining the central bank, Patterson spent more than 25 years in capital markets, with particular experience in risk oversight and senior management, including a stint as president of Bank of America Merrill Lynch Canada. “Lynn’s extensive market experience and her understanding of financial sector issues make her a terrific addition to Governing Council,” said the bank’s governor, Stephen Poloz. “Lynn joins an exceptional team of leaders whose expertise helps the Bank perform all of its functions with the excellence and credibility that Canadians deserve. I am excited to be working more closely with Lynn in this important role.” Poloz also announced a reallocation of responsibilities among the governing council members. Under the new structure, oversight of the bank’s analysis and activities to promote a stable and efficient financial system will be the responsibility of Patterson and deputy governor, Lawrence Schembri. Deputy governor, Timothy Lane, will oversee international economic analysis, while domestic economic analysis will remain the responsibility of deputy governor, Agathe Côté. Poloz, incoming senior deputy governor, Carolyn Wilkins, and the four deputy governors share responsibility for monetary policy, financial stability, and for setting the strategic direction of the bank. Share this article and your comments with peers on social media Facebook LinkedIn Twitter Financial industry veteran, Lynn Patterson, has been appointed deputy governor of the Bank of Canada, which also shuffled some executive mandates. The bank’s board announced today that Patterson will replace retired deputy governor, John Murray, effective May 5. She will also join the bank’s governing council. center_img Related news PenderFund names new SVP for investments CETFA elects new board leader Keywords AppointmentsCompanies Bank of Canada last_img read more