Bank of Canada appoints two deputy governors, dropping 'external' title for one

The Bank of Canada is seen in Ottawa, on Wednesday, April 16, 2025. THE CANADIAN PRESS/Justin Tang

OTTAWA — The Bank of Canada is filling two vacancies on its governing council with a pair of economists who are already well known at the central bank.

In May, the Bank of Canada’s managing director of economic analysis, Marc-André Gosselin, will become a deputy governor at the central bank, where he has worked in progressively senior roles since 1999.

External deputy governor Nicolas Vincent will also join the board on a full-time basis starting in August and will serve as the Bank of Canada’s G7 and G20 deputy.

The Bank of Canada will launch a recruitment process soon to fill the external deputy governor position left vacant by Vincent, who first assumed the role back in 2023 while serving as a professor at HEC Montreal.

Gosselin and Vincent are stepping into roles previously held by Sharon Kozicki, who plans to retire this summer, and Rhys Mendes, who left the central bank to move back to Toronto earlier this month.

The Bank of Canada’s governing council is responsible for maintaining financial stability and executing monetary policy for the country, including setting the benchmark interest rate.

This report by The Canadian Press was first published April 20, 2026.

Craig Lord, The Canadian Press