Bank of Canada adds another Goldman Sachs alum
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29/06/2010 10:00:00 AM
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Mark Carney's former colleague Tim Hodgson will soon become a special adviser to the Bank of Canada.
Hodgson, the chief executive officer of Goldman Sachs Canadian operation, will spend 18 months as a special adviser to Carney beginning in September.
"If you want to catch mice, then you need someone who really understands how the mice think and act," Carleton University MBA head Ian Lee said of the appointee.
As the central bank's senior representative in charge of communicating with market players, Hodgson will help push the bank's agenda past competing Bay Street interests and will work with regulators on new standards for the capital banks are required to hold as a cushion, CTV reports.
Before working in government, Carney spent over a decade at Sachs and worked with Hodgson for two years at Goldman in New York.