May 2, 2013, HARPER GOVERNMENT APPOINTS STEPHEN POLOZ GOVERNOR OF THE BANK OF CANADA
(Link to item)

Ottawa, May 2, 2013
2013-065
HARPER GOVERNMENT APPOINTS STEPHEN POLOZ GOVERNOR OF THE BANK OF CANADA

Related Document:

Biographical Notes
Letter to the Minister of Finance

The Honourable Jim Flaherty, Minister of Finance, today announced that Stephen Poloz will be appointed Governor of the Bank of Canada, effective June 3, 2013. Mr. Poloz will replace Mark Carney, who has accepted the role of Governor of the Bank of England.

“Stephen Poloz has a long and distinguished career in the public and private sectors with 30 years experience in financial markets, forecasting and economic policy,” said Minister Flaherty. “I am confident he has the skills and experience required to lead the Bank of Canada at a time of global economic uncertainty.”

Mr. Poloz comes to the Bank of Canada from Export Development Canada (EDC) where he has been the President and Chief Executive Officer since 2011. He joined EDC in 1999 as Vice-President and Chief Economist, and in 2004 was promoted to Senior Vice-President, Corporate Affairs and Chief Economist.

Prior to joining EDC, Mr. Poloz spent five years with Montreal-based BCA Research, and 14 years with the Bank of Canada in various capacities. He holds an M.A. and Ph.D. in economics from the University of Western Ontario, and a B.A. (Honours) in economics from Queen’s University.

“This has been an extremely thorough process as we sought the best candidates from around the world, said Minister Flaherty. “We had some very impressive individuals come forward as candidates and I would like to take this opportunity to thank each and every one of them for their interest. I would also like to take this opportunity to thank the outgoing Governor. Mark Carney has been a visionary leader, an economic partner and a friend. Over the past few years we have faced some unprecedented economic challenges and we surmounted.”