The Bank of Canada announced Wednesday that Paul Jenkins has been appointed senior deputy governor of the Bank for a seven-year term.

The previous SDG, Malcolm Knight, has moved on to the position of general manager of the Bank for International Settlements.

Jenkins has served as deputy governor of the Bank for the past 10 years. He has been responsible for the Bank’s analysis of international economic and financial issues and liaison with related agencies, as well as the strategic direction and oversight of the Bank’s public communications. He has been a member of both the Governing Council, which formulates monetary policy decisions, and the Executive Management Committee, which provides overall direction for the management of the Bank.

“I am delighted with the appointment of Paul Jenkins as senior deputy governor,” said Bank of Canada governor David Dodge. “Paul has a deep understanding not only of economic and monetary policy issues but also of the Bank and its staff. I know he will provide energetic leadership in helping the Bank continue its tradition of excellence in promoting the economic and financial welfare of Canada.”

Jenkins joined the Bank’s research department in 1972. In 1978, he moved to the Department of Monetary and Financial Analysis and was named deputy chief of the department in 1983. He became chief of the research department in 1984, an adviser to the governor in 1989 and was appointed deputy governor in 1992.

He joined the Bank following an undergraduate degree at the University of Western Ontario and a Masters at the London School of Economics. In 1982-83, he furthered his studies in economics at Princeton University before returning to the Bank. Jenkins was born in St. Catharines, Ontario. He and his wife Sheila have three children.