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Richard McGaw was appointed to the Board of Directors of the Bank of Canada in March 2008.
Mr. McGaw was born in St. Stephen, New Brunswick. He received a PhD in economics from the University of Manchester in 1978.
Mr. McGaw has been a professor in the Department of Economics at the University of New Brunswick since 1974. He has also served as labour arbitrator, contract negotiator, and adviser to the New Brunswick MLA Compensation Review, and as expert witness before the New Brunswick Insurance Board and the Judicial Remuneration Commission for New Brunswick. At the University of New Brunswick, Mr. McGaw has served as Chair of the departments of Economics and Political Science. He has also been a member of the University Senate and President of the Faculty Association.
Mr. McGaw has served as Chair of collective bargaining for the Canadian Association of University Teachers and as President of the New Brunswick Federation of Faculty Associations. He received a Dedicated Service Award from the Canadian Association of University Teachers for service at the University of New Brunswick and the Prix Nicole Raymond Award for service to higher education in New Brunswick.