The Bank of Canada (BoC) has begun recruiting for a replacement for Deputy Governor Agathe Côté as she prepares to retire early in the new year.
The central bank announced on Monday that with Côté set to retire at the end of January 2016, it has launched the search process to find her successor. The bank’s board has formed a selection committee and global executive recruiting firm Boyden has been hired to carry out the search and selection process.
Recruiting ads have been placed in several newspapers and magazines, and posted on the bank’s website advertising the position. The ad notes that the BoC is particularly looking for a candidate “with practical experience in the design and use of large macroeconomic models, a demonstrated history of communicating views regarding the economy, and intimate knowledge of the flow of Canadian economic data.”
Côté, who was appointed deputy governor in July 2010, has been responsible for overseeing the bank’s analysis of domestic economic developments.
The bank’s four deputy governors are involved with all of its major policy and strategic decisions; and they sit on the bank’s Governing Council, which makes decisions related to monetary policy, financial stability, and the strategic direction of the bank. They also serve as a spokespeople for the bank to communicate its policies and decisions to the market.