Ottawa, March 24 -- The Bank of Canada is set for a leadership transition after announcing Monday that Deputy Governor Rhys Mendes will depart and Deputy Governor Sharon Kozicki will retire in the coming months.

He currently oversees the Bank's analysis of international economic developments and serves as its representative to the G7 and G20.

Before joining the central bank, Mendes was assistant deputy minister for economic policy at Canada's Department of Finance.

She has been responsible for overseeing analysis of domestic economic developments and has led research on inflation, the broader economy and monetary policy transmission.

Governor Tiff Macklem said Mendes played a key role in advancing international policy coordination and...