The Bank of Canada is pleased to announce the recipients of the Bank’s 2022 Fellowship Award and Governor’s Award.

Fellowship Award

Robert Clark
Professor of Economics, Associate Head, Department of Economics
Queen’s University
A leading expert on the industrial organization of financial markets, Professor Clark’s work has studied competition in the banking sector and its implications for financial stability. His research is focused on the evolution of banking market structure, often resulting from changes in regulations or technology and the impact of this evolution on mortgage pricing, access to credit and bank risk. He has also published widely on the economics of industrial organization writ large, including research on procurement policy, price controls and price-fixing. He holds the Stephen J.R. Smith Chair in Economic Policy at Queen’s and is a fellow at CIRANO and a faculty advisor at the John Deutsch Institute.

Governor’s Award

Claire Célérier
Assistant Professor of Finance, Rotman School of Management
University of Toronto
A leading academic expert in household finance, Professor Célérier studies why, how and when households benefit from financial inclusion, namely broader access to financial products and services. Her work on the design of innovative financial products, behavioral biases and investment decisions has notably drawn the interest of central banks and market regulators around the world. Professor Célérier is also conducting research at the nexus of finance and history to explore the impact of financial inclusion on discriminated populations.

Patrick Augustin
Associate Professor of Finance, Desautels Faculty of Management
McGill University
Professor Augustin is an internationally recognized expert in international finance who studies questions at the intersection of macroeconomics and finance, with a particular focus on sovereign credit risk, asset pricing and credit derivatives. His research also extends to matters of financial law, and his work on insider trading has drawn international attention with coverage in the global financial and political press. Professor Augustin has worked in the private sector as a structured credit officer and in the public sector as an attaché to Luxembourg’s Ministry of Foreign Affairs. He holds the Canada Research Chair in Macrofinance and Derivatives, is an Associate Fellow at the Canadian Derivatives Institute and served as a Fellow at the Global Future Councils of the World Economic Forum.