Romy Bowers, the CEO of Canada Mortgage and Housing Corp. (CMHC), is preparing to leave her current position for a new role at the International Monetary Fund (IMF). Bowers, who took over as CEO of the state-owned entity in April 2021, will become the director of the risk-management office at IMF starting early January.
Bowers' departure from CMHC, which holds 297 billion Canadian dollars in assets, will prompt the Canadian government to search for a new CEO. Housing Minister Sean Fraser will oversee this process.
Over her career, Bowers has held senior roles at Bank of Montreal (TSX:BMO) and made significant contributions to addressing Canada's housing-supply crunch. She has suggested that an additional 3.5 million units are needed to restore reasonable housing affordability within the country.
Her innovative problem-solving skills have been recognized as a valuable asset for her upcoming role at IMF. As she transitions into this new position, her expertise is expected to greatly contribute to the risk management strategies at the global financial institution.
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