Bank of Canada names longtime executive Mendes as deputy governor

The Bank of Canada (BoC) said on Friday it has picked longtime central bank executive Rhys Mendes as its new deputy governor, making him the first person of color to that role.

Mendes, who will start in the role on July 17, will fill a vacancy created by the departure of Paul Beaudry, and will join the six-member interest-rate-setting governing council.

Mendes, who joined the bank in 2004, has been on secondment to Canada's Finance Ministry since 2021, serving as assistant deputy minister. The Bank of Canada is seeking to diversify its workforce and told staff in a memo in 2020 that it planned to double the number of senior officers who are visible minorities by 2030, and increase the number of women in those roles by 45% in the same period.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank of Canada appoints Rhys Mendes as Deputy GovernorThe Board of Directors of the Bank of Canada (BoC) announced on Friday the appointment of Rhys R. Mendes as Deputy Governor, effective July 17, 2023.
Read more »

Sabrina Carpenter’s Dating History: Joshua Bassett, Shawn Mendes and MoreSabrina Carpenter dated Bradley Steven Perry and Griffin Gluck before being linked to Joshua Basset in 2021 — read more
Read more »

Western Canada braces for early heat wave, raising wildfire risk in Alberta and B.C.A heat wave that’s expected to push daytime temperatures 10 to 15 degrees above seasonal norms is raising the wildfire risk in Alberta and British Columbia,…
Read more »

Andrew Bailey speech: Bank of England press conference crucial for Pound Sterling directionAndrew Bailey, Governor of the Bank of England, will speak in a press conference 30 minutes after the BoE interest rate decision is released on Thursd
Read more »

Bank of England Raises Interest Rates by Quarter PointThe U.K. central bank signaled more increases are possible and now expects the economy to grow this year, having previously forecast a contraction.
Read more »