The Bank of Canada announced on Apr. 20 the appointment of Marc-André Gosselin and Nicolas Vincent as Deputy Governors, with Gosselin assuming the role on May 25 and Vincent on August 3.
These appointments are significant because Deputy Governors play a key role in shaping decisions related to monetary policy and financial stability, which affect the broader Canadian economy. The Bank of Canada strives to maintain price stability and foster economic growth by overseeing monetary policy and financial systems, according to the official website.
Gosselin will join the Governing Council, where he will oversee analysis of domestic economic developments. He has worked at the Bank since 1999 in various senior roles, most recently serving as Managing Director of Canadian Economic Analysis. Governor Tiff Macklem said, “I am very pleased to welcome Marc-André to the Governing Council. His breadth of experience across both monetary policy and financial stability, and his deep modelling and analytical expertise will be an important asset to Governing Council as our country adjusts to a changing economic landscape.”
Vincent has been an external member of the Governing Council since 2023. As full-time Deputy Governor, he will lead analysis on international economic issues and serve as the Bank’s representative at G7 and G20 meetings. Macklem said, “I am delighted that Nicolas has decided to become a full-time member of Governing Council. His deep knowledge of both macro- and microeconomics, extensive research background and outstanding communications skills will be invaluable as the Bank navigates a complex and challenging global and domestic economic environment.”
The Bank manages currency operations, digital payments oversight, retail payment system regulation, collaborates with university students through initiatives like monetary policy simulations such as the Governor’s Challenge for students, operates within Canada’s financial sector focusing on monetary policy oversight—all outlined on its official website.
Macklem has served as governor since June 3, 2020 according to information provided by the official website.
Following these appointments, a recruitment process will begin for another external Deputy Governor position.
