Bank Of Canada Deputy Governor Steps Down

Bank of Canada Senior Deputy Governor Carolyn Wilkins is stepping down.

Wilkins said she won’t seek a second term as the number-two official at the central bank four months after she was passed over for the top job as governor.

Wilkins has informed the Bank of Canada’s Board of Directors she won’t seek another term. Her current term ends on May 1, 2021, and the board will begin a search for her successor.

Wilkins had been considered one of the frontrunners to replace former Bank of Canada Governor Stephen Poloz when his term ended in June. Instead, Tiff Macklem was chosen for the top job, marking the fourth consecutive time the top deputy at the central bank failed to win the big promotion.

Wilkins started her career at the central bank in 2001, rising through the ranks to become senior deputy governor under Poloz.