Tiff Macklem, deputy governor of the Bank of Canada, has been appointed associate deputy minister of finance, effective November 1.

Macklem will also serve as Canada’s finance deputy at the G-7, G-20, and the Financial Stability Forum. He will replace Mark Carney, who was recently appointed the next governor of the Bank of Canada, in these roles. Carney’s appointment is effective February 1 2008, and he is joining the Bank as an adviser to the governor effective November 1.

Bank of Canada Governor David Dodge expressed his appreciation for Macklem’s contribution to the Bank’s domestic and international work during his 20-year career there. “Tiff will continue to contribute to public policy in his new role at the department of finance, and we wish him well,” Dodge said.

The Bank of Canada says i will undertake a recruitment process for the deputy governor position in January.