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Kevin Lynch

Peter Power/Peter Power/The Globe and Mail

Former top federal public servant Kevin Lynch says he's not interested in replacing Mark Carney as governor of the Bank of Canada.

"I can tell you I have absolutely no interest in the job," Mr. Lynch, the former Clerk of the Privy Council, said in an interview. "I retired after 33 years of government service and loved it, and I intend to stay retired."

Meanwhile, Julie Dickson, who steered the federal Office of the Superintendent of Financial Institutions through the financial crisis to high praise, will not be seeking the central bank job, either. OSFI spokesman Rod Giles said Friday, "The superintendent has absolutely no interest in anything other than completing her term as superintendent."

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Their names surfaced as possible replacements after the surprise announcement this week that Mr. Carney would leave Canada next year to take on the job of governor of the Bank of England. Don Drummond, another former government official who later served as chief economist for Toronto-Dominion Bank, has also said he's not interested in the job, quelling speculation he was potential governor material.

Many observers consider Tiff Macklem, the senior deputy governor of the Bank of Canada and Canada's G7 deputy, to be the front-runner to replace Mr. Carney.

Mr. Lynch has been busy since retiring from government in mid-2009 after three years as Clerk, equivalent to chief executive of the federal public service. He is vice-chairman of Bank of Montreal and serves on several non-profit boards in the research, education and medical sectors, including the position of chairman of the board of governors of University of Waterloo.

Mr. Lynch, a trained economist, served as deputy minister of finance before becoming Clerk, and was instrumental in bringing Mr. Carney, then a new recruit to the Bank of Canada, over to finance to serve in the key role as senior associate deputy minister of finance in charge of the G7/G20 file.

With files from Kevin Carmichael

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