Joe Oliver, Minister of Finance, Wednesday announced the appointments of Norman Betts and Alan Borger to the board of directors of the Bank of Canada.
Betts is an Associate Professor at the University of New Brunswick’s Faculty of Business Administration and is the former Minister of Finance for New Brunswick.
Borger is president and chairman of the board of Ladco Company Limited and chairman of Borland Construction Inc.
Commenting on the two appointments, Oliver said: “With their collective expertise in the areas of accounting, finance, business administration, politics and law, spanning both the public and private sectors, they bring a wealth of varied and valuable experience to this important institution.”
The board of directors of the Bank of Canada is composed of the governor, the senior deputy governor and 12 independent directors appointed to three-year renewable terms by the federal the cabinet.
The role of the board is to provide general oversight of the management and administration of the central bank with respect to strategic planning, financial and accounting matters, risk management, human resources, and other internal policies.