Alumna replacing Macklem at Bank of Canada

By Barrie McKenna

The Bank of Canada has chosen a relative unknown insider to replace Tiff Macklem, MA'84, PhD'89 (Economics), as governor Stephen Poloz’s No. 2.

Carolyn Wilkins, MA'88 (Economics), 50, an economist who joined the bank in 2001, will become senior deputy governor – the bank's highest-ranking woman ever.

She replaces Mr. Macklem, who is leaving the bank May 1 to become dean of the University of Toronto’s Rotman School of Management. Mr. Macklem, once considered a front-runner to succeed Mark Carney as head of the bank, lost out last year to Mr. Poloz, MA'79, PhD'82 (Economics), the former chief executive of Export Development Canada.

Ms. Wilkins begins her seven-year term May 2.