Appointed by John Diefenbaker Succeeded by Gerald Bouey Name Louis Rasminsky | Religion Judaism Preceded by James Coyne | |
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Born February 1, 1908
Montreal, Quebec ( 1908-02-01 ) Died September 15, 1998, Ottawa, Canada Books Canada as an International Banking Centre: A Report to the Department of Finance Education University of Toronto, London School of Economics and Political Science | ||
Remembering louis rasminsky
Louis Rasminsky, (February 1, 1908 – September 15, 1998) was the third Governor of the Bank of Canada from 1961 to 1973, succeeding James Coyne. He was succeeded by Gerald Bouey.
Born in Montreal, he was raised in Toronto, graduated at Harbord Collegiate Institute, educated at the University of Toronto and the London School of Economics. In 1930, he started at the League of Nations as a specialist in monetary and banking issues. He joined the Bank of Canada in 1940, becoming executive assistant to the Governors of the Bank from 1943 to 1954 and Deputy Governor in 1955.
He served as Canada's executive director at the International Monetary Fund from 1946 until 1962. He was also executive director at the International Bank for Reconstruction and Development from 1950 to 1962.
In 1968, he was made a Companion of the Order of Canada, Canada's highest civilian honour, "for his services to Canada and a life-long career in the fields of international economic affairs and central banking". In 1968, he was awarded the Outstanding Achievement Award, the highest honour in the Public Service of Canada. He was the first Canadian to receive an honorary degree from Yeshiva University [1]. He also received honorary degrees from Carleton University, Trent University, the University of British Columbia and Concordia University (1975).
In the 1960s, the distinguished Rideau Club in Ottawa declined to admit Rasminsky on the account of the fact that he was Jewish. It succumbed to pressure from Prime Minister Lester B. Pearson,among others.
His daughter, Lola Rasminsky, currently is Founder and Director of the Avenue Road Arts School in Toronto. His son, Dr. Michael Rasminsky, practices neurology at the Montreal General Hospital.