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Bank of Canada Adviser Wolf to Leave for Private Sector

July 19 (Bloomberg) -- Bank of Canada Adviser David Wolf said he is leaving the central bank effective today and will start a job in the private sector.

Wolf, in a telephone interview from Ottawa, declined to say where his new job is located or who it’s with, citing the bank’s cooling-off policy.

Wolf was the main editor of the quarterly Monetary Policy Report for the last three years, according to the Bank of Canada website. The 37-year-old worked with the six-member governing council that sets the bank’s benchmark interest rates in drafting the economic forecast papers.

In a note to the bank’s staff, Governor Stephen Poloz and Senior Deputy Governor Tiff Macklem “praised David’s deep understanding of financial markets and monetary policy and his strong communication skills,” spokesman Jeremy Harrison said. “On behalf of Governing Council, they thanked him for his tremendous contribution to the bank during the past four years.”

Before coming to the central bank under former Governor Mark Carney, Wolf had been head of Canadian economics and chief strategist with Bank of America Securities-Merrill Lynch Canada. He also spent eight years as an economist and strategist with Royal Bank’s Capital Markets unit.

To contact the reporter on this story: Greg Quinn in Ottawa at gquinn1@bloomberg.net

To contact the editor responsible for this story: David Scanlan at dscanlan@bloomberg.net

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