Central Banking

Where does this leave Malcom Knight?

With Dec 20 appointment of David Dodge as the next governor of the Bank of Canada came a question: Whither Malcolm Knight? Yesterday's announcement was a surprise to some analysts because Mr. Knight, the deputy governor, was widely seen as the front-runner to replace Gordon Thiessen as the country's top banker.

Imported 18 months ago from the International Monetary Fund to serve as Mr. Thiessen's No. 2, he now must decide whether to remain as deputy governor to Mr. Dodge or move on. The only t