OTTAWA - Paul Jenkins, senior deputy governor of the Bank of Canada, is stepping down when his term expires next April, the central bank said Thursday.
Jenkins has worked for the central bank for 37 years.
He was considered a front runner to replace former governor David Dodge before Mark Carney was named to the post.
Jenkins was appointed to his current position in 2003 after serving as deputy governor for 10 years.
The bank says he plans to "undertake new challenges."
"Paul Jenkins has devoted his career to the development and conduct of Canadian monetary policy and to Canada's economic policy-making role internationally," Carney said in a statement.
"His economic leadership and skilled management as the bank's chief operating officer have reinforced the confidence that Canadians have in the Bank of Canada, in particular during the recent financial crisis."
A special committee of the bank's board of directors has been formed to select the next senior deputy governor.