January 16, 2023
HEC Montréal is proud to share the news that Nicolas Vincent has been appointed as the new non-executive Deputy Governor of the Bank of Canada. While remaining a full professor in the Department of Applied Economics, Nicolas Vincent will also serve the country’s central banking institution as of March 13, 2023, for a 2‑year term.
He joins the Bank’s Governing Council composed of Governor Tiff Macklem, Senior Deputy Governor Carolyn Rogers and 3 Deputy Governors Paul Beaudry, Toni Gravelle and Sharon Kozicki. Alongside other members, he will be responsible for communicating with Canadians about the Bank’s consensus-based policy decisions as well as its ongoing assessment of the outlook for the economy and inflation.
“This announcement is extremely positive, both for our colleague Nicolas Vincent and for the entire School community,” said HEC Montréal Director Federico Pasin. “It speaks to the high level of credibility and competencies of one of our faculty members, who is also a School graduate and whose expertise and knowledge will better serve the interests of the Canadian population! I extend my warmest congratulations to Nicolas Vincent on this well-deserved and exceptional appointment!
“I am delighted that Nicolas Vincent is joining the Bank’s Governing Council and I am looking forward to working with him,” said Governor Tiff Macklem. “He is an accomplished scholar and teacher, with deep expertise in macro and microeconomic research in areas such as inflation and price dispersion, firm dynamics, inequality, house prices and household finance. I have no doubt that his broad knowledge of monetary economics combined with his keen interest in public policy will be invaluable in helping the Bank navigate the policy challenges ahead.”
Nicolas Vincent’s appointment, which is the result of an open external search process, fills the vacancy created by the departure of Timothy Lane in September 2022. At that time, the Bank changed the fourth Deputy Governor position to an external, non-executive Deputy Governor role in order to bring diverse perspectives into its consensus-based policy-making process and to ensure the Bank’s executive team has a streamlined and effective distribution of management responsibility.
Nicolas Vincent holds a master’s degree from Queen’s University and a PhD in Economics from Northwestern University. He is also a graduate of HEC Montréal with a bachelor’s degree in Business Administration (BBA) specialized in Applied Economics.
In addition to his responsibilities at HEC Montréal, he has been a visiting professor and researcher at numerous institutions abroad, notably in France, at INSEAD, and in the United States, at the Columbia Business School and the Kellogg School of Management.
Nicolas Vincent is also co-chair of the Business Cycles and Financial Markets research theme at CIRANO (Centre interuniversitaire de recherche en analyse des organisations). His main fields of expertise are: