Carney deputy gets the top job

This is a surprise.

Wilkins

Macklem is by no means a poor choice. He was Mark Carney's top deputy from 2010-2014 and before that was a top advisor to the finance minister during the financial crisis. Currently he is the dean of the University of Toronto's business school.

The 58-year-old will serve a 7-year term.

Carolyn Wilkins was a big favourite for the job and would have been the first woman to lead the central bank. She's been at the BOC since 2001. She's 56-years-old so she may get another crack at this, particularly if Macklem doesn't serve the full 7 years.

Here's a picture of Macklem from back in the Carney era:

Macklem

Macklem will take over on June 2. Here is his bio.

As for Wilkins, I suspect she was offered some position within the government as a consolation.