UCC Congratulates Stephen Poloz 

On Appointment As Governor Of The Bank Of Canada

OTTAWA - MAY 15, 2013 - The Ukrainian Canadian Congress congratulates Stephen Poloz on his nomination to be the next Governor of the Bank of Canada.

Mr. Poloz, a third generation Ukrainian Canadian from Oshawa, is set to take over from current Governor of the Bank of Canada Mark Carney on June 3, 2013.

“The Ukrainian Canadian community congratulates Mr. Poloz on this most important and prestigious appointment,” stated Ukrainian Canadian Congress National President Paul Grod. “Mr. Poloz has impeccable credentials and experience at the Bank of Canada and we have every confidence that he will undertake his functions as Canada’s central banker with distinction.”

The Bank of Canada, as Canada’s central bank is responsible for Canada’s monetary policy, producing and distributing Canada’s bank notes, promoting a stable and efficient financial system in Canada, and providing effective and efficient funds-management services for the Government of Canada by providing treasury-management services and administering and advising on the public debt and foreign exchange reserves.

Prior to his appointment as Governor of the Bank of Canada, Mr. Poloz has been President and Chief Executive Officer of Export Development Canada (EDC) since January 2011. He previously served as Vice-President and Chief Economist of EDC, and as Senior Vice-President, Corporate Affairs and Chief Economist. Prior to joining EDC, Mr. Poloz spent five years with Montreal-based BCA Research, and 14 years with the Bank of Canada.

He has served as a visiting scholar at the International Monetary Fund (IMF) in Washington, and at the Economic Planning Agency in Tokyo. Mr. Poloz holds a Ph.D. and M.A. in economics from the University of Western Ontario, and a B.A. (Honours) in economics from Queen’s University.

Mr. Poloz is 57 years old and he resides in Ottawa with his wife Valarie. He has two children, Jessica and Nickolas, and is a grandfather.

Stephen Poloz