On behalf of the staff and Board of Directors of the Bank of Canada, Governor David Dodge today issued the following statement on the death this week of Tim Noël, Deputy Governor of the Bank since 1994:

The news of Tim Noël's passing is deeply saddening for the many friends and colleagues who came to know him through his work at the Bank of Canada during more than three decades of outstanding service. Throughout his career at the Bank, culminating in his past seven years as Deputy Governor with responsibility for financial markets, Tim earned great respect for the vigorous blend of professional expertise and common sense that always infused the advice he gave. He also brought to his work and his work relationships a strong human dimension that now heightens the sense of loss at his passing. He will be greatly missed by all of us at the Bank.

Tim will be especially remembered for the exceptional courage and determination that he showed after being diagnosed with Amyotrophic Lateral Sclerosis more than two years ago. He continued working at the Bank almost until the end, providing the same sound counsel and perspective as before. Much to his personal credit, he also set aside his natural reluctance to be a centre of attention, and gave willingly of his time and his privacy to raise awareness and help fund research into this terrible disease.