Bank of Canada pledges to hire more minority, female executives

Bank of Canada pledges to hire more minority, female executives

Bank of Canada pledges to hire more minority, female executives

The Bank of Canada has revealed plans to double the number of senior officers who belong to minorities by 2030, and to raise the number of women in those positions by 45% over the same period.

The move would raise the number of visible minority senior officers to 14, and the number of female top executives to 32, BNN Bloomberg reported. This would bring the share of minorities and women in the central bank’s senior management to 18% and 42%, respectively.

The addition of more women would be particularly significant in the wake of the announced departure of Carolyn Wilkins. The Senior Deputy Governor will be stepping down on December 9. She is currently the only woman on the BoC’s Governing Council.

The initiative, which was first outlined in an internal notice released earlier this month, is part of the institution’s commitment “to the ideal that a more diverse and inclusive Bank of Canada is crucial to reflect the society we serve, and that it strengthens us as an organization,” said Louise Egan, bank spokesperson.

Egan added that Governor Tiff Macklem and other top officials “have made clear that our senior leadership team needs to reflect” the diversity seen throughout Canadian society.

The BoC’s push appears to be following the federal government’s lead, BNN Bloomberg reported. Last month, the Liberal administration announced its “diversity challenge” in a bid to boost the representation of women and minorities in corporate leadership positions.