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December 14, 2012

tiff macklem
Deputy Governor, Bank of Canada

Tiff Macklem began a seven-year term in 2010 as senior deputy governor of the Bank of Canada.

Born in Montreal, he completed both his master's degree and PhD in economics at Western University after graduating from Queen's University with a bachelor's degree in 1983. He chose Western, he says, because it "had the country's strongest macro-economic faculty. The department was a real powerhouse, and professors such as David Laidler and Michael Parkin had a profound influence on me."

Before becoming senior deputy governor, Macklem was associate deputy minister of the federal Department of Finance where he was also Canada's G7 deputy.

He first joined the Bank of Canada in1984 in the department of monetary and financial analysis. Macklem returned to the bank in 1989 after completing his PhD at Western. He held increasingly responsible positions in the research department until his appointment as chief in 2000.

Named adviser to the governor in 2003, he was soon seconded to the Department of Finance, returning to the Bank of Canada as deputy governor in December 2004. Macklem returned to the Department of Finance in 2007 as associate deputy minister.

As senior deputy governor, he is the Bank of Canada's chief operating officer and a member of the board of directors. His duties include co-ordinating the bank's activities, overseeing strategic planning and sharing responsibility for the conduct of monetary policy as a member of the bank's governing council.

In December, 2013, he was named the new dean of the University of Toronto's Rotman School of Management and will begin his new role on July 1, 2014.

Macklem and his wife, Rosemary, live in Ottawa and have three children.

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