Toni Gravelle named Bank of Canada deputy governor

Toni Gravelle was appointed Thursday to the Bank of Canada’s board of directors as deputy director, filling the vacancy left when Lynn Patterson retired in July.

Gravelle will join the bank’s policy-making body, the governing council, and share responsibility with deputy governor Paul Beaudry for overseeing the bank’s financial system activities, a release from the central bank said.

In a statement, governor Stephen Poloz described Gravelle as a “versatile, thoughtful and experienced leader who is already well-known in Canada’s financial markets.”

Gravelle has been managing director of the BoC’s Financial Markets Department since 2015. He joined the bank in 1996 but has since held positions at the International Monetary Fund and the Department of Finance. He holds a PhD in economics from Western University.

The central bank also announced Thursday that Mark Hardisty will join the bank for a two-year term as special advisor to the governor. Hardisty will be the senior representative for financial markets at the bank’s Toronto Regional Office, where he will be responsible for maintaining  relationships with the Toronto financial community.

He will also become a member of the bank’s Monetary Policy Review and Financial System Review committees.

Hardisty has more than 25 years’ experience in capital markets, most recently as managing director and global head of debt syndication at CIBC Capital Markets in Toronto.

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