Stephen Poloz, who replaced Mark Carney as the Bank of Canada’s ninth governor in 2013, will not seek a second-term.
The 64-year-old Oshawa native’s term expires in just under six months.
While governors can seek a second term, no governor has done so the past 40 years.
”The role of governor of the Bank of Canada has been my dream job,” said Poloz in a written statement.
”I will leave it next June with gratitude and great pride.”
It’s believed the front-runner to succeed Poloz is the central bank’s senior deputy governor Carolyn Wilkins.
If she were to get the job, she’d be the bank’s first female governor, however, no senior deputy has been promoted since Gordon Thiessen in 1994.
The past three appointees came from outside.
Poloz was chief executive of Export Development Canada before becoming governor.