To add to its presence in financial markets, the Bank of Canada has announced appointments to two new senior positions.

Appointed are H. Ross MacKinnon as Director, Toronto Division and Jean-Pierre Aubry as Director, Montréal Division, both in the Financial Markets Department.

In their new positions, Mr. MacKinnon and Mr. Aubry will contribute to the Bank's objectives of enhancing the openness and transparency of monetary policy and promoting well-functioning financial markets. They will both be members of the Bank's Monetary Policy Review Committee.

Mr. MacKinnon brings to the Bank a wealth of experience and knowledge of financial markets gleaned from more than 25 years in the securities industry. At the time of his retirement from Nesbitt Burns last year, he was Senior Vice-President and Director of Global Fixed Income. He was also a member of Nesbitt Burns' Advisory Group. Mr. MacKinnon served in several capacities, including Vice-Chairman and Chairman of the Capital Markets Committee of the Investment Dealers Association of Canada.

Since joining the Bank in 1972, Mr. Aubry has held a number of executive positions, serving as Deputy Chief in both the Research and Monetary and Financial Analysis departments as well as Comptroller and Chief Accountant. As an economist in the Research and Monetary and Financial Analysis departments, Mr. Aubry participated in the formulation and implementation of monetary policy through his work in analysis of the Canadian economy, forecasting, and research projects. In his work related to the safety and soundness of Canada's financial system, Mr. Aubry has maintained close contacts with financial institutions across the country.