Timothy Hodgson, Chief Executive Officer of Goldman Sachs Canada, has been appointed Special Adviser to the Governor. During a period when financial regulation and market infrastructure are evolving rapidly, the Bank of Canada will benefit from Mr. Hodgson’s profound and extensive experience in investment banking and markets. Mr. Hodgson will serve for an 18-month term, beginning 1 September 2010, with a particular focus on working with the Bank’s partners to develop and implement reforms to enhance the resilience of repo and over-the-counter (OTC) derivatives markets and increase the capital adequacy of financial institutions.

“With roots in Manitoba, an education in Canada, and a career serving Canadian clients, I have enormous respect for the institutions that underpin Canada’s economy,” Mr. Hodgson said. “I am proud to join the Bank of Canada at this important time for the future of the financial system.”

As Senior Representative for Financial Markets in the Bank’s Toronto Regional Office, Mr. Hodgson will lead a team that is responsible for the Bank’s strong relationship with the Toronto financial community and that contributes to the Bank’s analysis of financial markets, institutions, products and regulations. Mr. Hodgson will also serve as a member of the Bank’s Monetary Policy Review and Financial System Review committees.

“Tim Hodgson is one of Canada's top investment bankers. He is widely recognised for his exceptional transaction skills and understanding of how markets work,” said Governor Mark Carney. “These skills will be invaluable as the Bank works with its partners to design and implement vital reforms. The Bank is privileged that someone of his experience has chosen public service at this critical time.”

Born in Winnipeg, Manitoba, Mr. Hodgson received his MBA from Ivey School of Business at the University of Western Ontario in 1988 and a B.Com. (Hons) from the University of Manitoba in 1983. Prior to his appointment as Chief Executive Officer of Goldman Sachs Canada in 2005, Mr. Hodgson had held a range of senior positions with Goldman Sachs in the Telecom, Media and Technology Group in both New York and California, and in the Investment Banking Services Group, covering clients in Canada. Previously, he was in the Corporate Finance and New Issues and Structured Finance departments in London. Before joining Goldman Sachs in 1990, Mr. Hodgson worked at Salomon Brothers Inc; Price Waterhouse & Company; and Merrill Lynch Canada Inc.