OTTAWA, April 2 Canada's deputy finance minister
will retire this month, the government said on Wednesday,
confirming the latest in a series of departures by senior
The news of Michael Horgan's departure comes about two weeks
after long-serving finance minister Jim Flaherty quit, and as
the central bank seeks to fill two positions on its
Flaherty was replaced by Joe Oliver, the former energy
minister, who is still getting up to speed on his new portfolio.
"He took retirement," Oliver told reporters when asked to
confirm a report in the Globe and Mail newspaper that Horgan
told his staff on Wednesday that he was leaving as of April 19.
Oliver said Horgan, who had a 36-year career in the federal
government, had reached his maximum pension.
"He's performed a magnificent service for the country, most
recently in finance, and I wish him well," he said.
A new deputy minister will be announced shortly, he added.
The deputy minister of finance in Canada tends to be a
low-key figure who stays out of the limelight, but plays an
important role in managing the department and providing policy
advice to the minister.
Flaherty announced his resignation on March 18 after eight
years as finance minister. Oliver was sworn in as his successor
the following day.
The Bank of Canada is about to lose its No.2 policymaker,
Senior Deputy Governor Tiff Macklem, who is leaving May 1. John
Murray, one of four deputy governors, is also leaving on April
The central bank must also hire someone soon to fill the
newly created position of chief operating officer.
(Reporting by Louise Egan. Editing by Andre Grenon)