Malcolm Knight

Malcolm D. Knight
Born	Windsor, Ontario
Nationality	Canadian
Education	Ph.D., London School of Economics and Political Science, University of London, 1972 M.Sc. (Economics), London School of Economics and Political Science, 1968 Honour B.A. in Political Science and Economics, University of Toronto, 1967 Matriculation, Amherstburg District High School, Amherstburg, Ontario, Canada, 1963

Malcolm D. Knight is a distinguished Canadian economist, policymaker, and banking professional. He holds the position of Visiting Professor of Finance at the London School of Economics and is a Distinguished Fellow at the Center for International Governance Innovation. Between 2008 and 2012, Knight served as Vice Chairman of the Deutsche Bank Group, where he led the development and coordination of the bank’s global strategies concerning financial regulation, supervision, and systemic stability. Prior to this role, he was General Manager of the Bank for International Settlements from 2003 until 2008 and served as Senior Deputy Governor at the Bank of Canada between 1999 and 2003. His earlier career included senior appointments at the International Monetary Fund spanning from 1975 to 1999.

Career

Knight completed an Honour B.A. in Political Science and Economics at the University of Toronto, followed by an M.Sc. and Ph.D. in Economics from the London School of Economics and Political Science.

He began his academic career teaching at both the University of Toronto and the London School of Economics before joining the IMF Research Department in 1975. During his tenure there, he progressed from economist to Assistant Director with responsibility for studies on developing countries. In 1992, he moved into operational roles at the IMF, serving as Deputy Director across various departments including Middle East, Monetary and Exchange Affairs, and European 1.

While working at the IMF, Knight also held an adjunct professorship at Johns Hopkins University's School of Advanced International Studies and contributed as a member of the editorial board for IMF Staff Papers until 1997.

In 1999, he was appointed Senior Deputy Governor at the Bank of Canada, where he acted as Chief Operating Officer and participated on the Governing Council with duties encompassing strategic planning, operational coordination, and monetary policy formulation.

Knight made history in April 2003 by becoming General Manager and CEO of the Bank for International Settlements—the first individual outside Europe to be appointed to this position. He departed from this post in September 2008 to join Deutsche Bank.

From October 2008 through March 2012, Knight held the role of Vice Chairman at Deutsche Bank Global Group based in New York City. In this capacity, he managed regulatory affairs and maintained relationships with central banks worldwide.

Honours and memberships

In recognition of his contributions, Knight was awarded an Honorary Doctorate by Trinity College at the University of Toronto in 2006. The following year, he was inducted into the Johns Hopkins University Society of Scholars and became a member of the Honorary Senate for the Lindau Nobel Laureate Meetings.

During his tenure as BIS CEO (2003–08), Knight acted as Trustee for the International Accounting Standards Committee Foundation (now IFRS Foundation), overseeing international accounting standards utilized by more than 100 nations. He also participated in the Financial Stability Forum (currently known as the Financial Stability Board), providing counsel to G8 and G20 finance ministers on financial system risks. Additionally, he contributed to the IMF’s Capital Markets Consultative Group. Between 2010 and 2014, Knight served on Swiss Re Ltd.'s Board of Directors. After concluding his Vice Chairmanship at Deutsche Bank in 2012, he continued as a consultant for the bank until 2014.

At present, Knight holds board positions with both the International Valuation Standards Council and Toronto’s Global Risk Institute in Financial Services. He advises Singapore’s Risk Management Institute as well as serves on the North American Advisory Board for the London School of Economics. Furthermore, he is a Trustee of the Per Jacobsson Foundation, a Patron of the European Association for Banking and Financial History, and sits on the Board of Directors for the New Jersey Center for the Visual Arts. Since 2008, he has maintained his role as Visiting Professor of Finance at the London School of Economics.

Publications

• "Canada's Banks: Are They Too Conservative to Fail?" featured in Forgotten Partnership Redux: Canada-U.S. Relations in the 21st Century, Cambria Press, 2011.
• Unwinding Financial Sector Interventions: Preconditions and Practical Considerations, published by the IMF, 2010.
• "International Cooperation for Attracting Top Talent in Economics" included in 10 Years of Foundation Lindau Nobelprizewinners Meetings at Lake Constance, 2009.
• "Addressing Moral Hazard in Managing Troubled Financial Institutions" in Financial Crisis Management and Bank Resolution, Informa Law, 2009.
• "Achieving Stability" presented in The G20 London Summit: Growth, Stability, Jobs, Newsdesk Media, 2009.
• "Is Reforming the Global Financial Architecture Merely Superficial?" from The IMF and its Critics, Cambridge University Press, 2004.
• "The Bank of Canada's Inflation Targeting Strategy," IMF publication, 2004.
• "The Central Bank’s Contribution to Financial System Stability: Insights from Canada," IMF, 2002.
• Transforming Financial Systems in the Baltics, Russia, and Other Post-Soviet States, IMF, 1999.
• "Challenges Facing Developing and Transition Economies Amid Financial Globalization," Finance and Development, 1999.
• "Globalization of Financial Markets and Its Impact on Developing Nations," World Development, 1998.
• "The Role of Current Accounts in Economic Policy Decisions," Austrian National Bank Conference Proceedings, 1998.
• "Economic Factors Influencing IMF Financial Agreements," Journal of Development Economics, 1997.
• "Reforming Central Banks in the Baltics, Russia, and Other Former Soviet Countries," IMF Occasional Paper No.157, 1997.
• The Canadian Economy, Revised Edition published with Michigan State University Press; 1996.
• "Economic Growth and Military Spending Reductions: The Peace Dividend," IMF Staff Papers, 1996.
• "Quantifying the Peace Dividend," The World Bank DECnotes No.6; 1996.
• "Empirical Testing of Neoclassical Economic Growth Theory Using Panel Data," IMF Staff Papers; 1993.
• "Fiscal Policies and Economic Interactions Among Major Industrial Nations (1980–1988)," Oxford University Press; 1990.
• The Canadian Economy, Association for Canadian Studies in the United States; 1989.
• "Fiscal Policy Impacts on Net Savings and Real Exchange Rates," NBER/University of Chicago Press; 1988.
• "Export Performance and Import Compression in Developing Countries," Review of Economics and Statistics; 1988.
• "Theoretical Perspectives on Fund-Supported Adjustment Programs," IMF Occasional Paper No.55; 1987.
• "Cross-Border Fiscal Policy Transmission Among Leading Industrial Countries," IMF Staff Papers; 1986.
• "Do Fund-Supported Adjustment Programs Hinder Economic Growth?" Finance and Development; 1986.
• "Fund-Supported Adjustment Programs and Their Effect on Growth," IMF Occasional Paper No.41; 1985.
• "Assessment Challenges of Exchange Rates in Industrialized Countries," IMF Occasional Paper No.29; 1984.
• "Economic Policy Responses to Change in Canada Under Fixed vs. Flexible Exchange Rates," M.I.T. Press; 1983.
• "Determinants Influencing Current Account Balances of Non-Oil Developing Nations," IMF Staff Papers; 1983.
• "Causes Behind Payment Difficulties in Less Developed Countries," Finance and Development; 1983.
• "Key Issues Concerning Economic Stabilization in Developing Economies," World Development; 1982.
• "Unanticipated Monetary Expansion and Inflation Financing," Journal of Money, Credit and Banking; 1982.
• "Framework for Stabilization Programs in Developing Countries," IMF Staff Papers; 1981.
• "Modeling an Industrial Economy Under Fixed and Flexible Exchange Rate Regimes," Macmillan; 1979.
• "A Macroeconomic Model for the United Kingdom," IMF Staff Papers;1978.
• "Central Banks’ Reserve Currency Preferences," Princeton University Essays in International Finance;1978.
• "Perspective on International Bank Lending," Finance and Development;1978.
• "Issues Surrounding the New International Monetary System," St. Martin's Press;1977.
• "Eurodollars, Capital Mobility, and Forward Exchange Markets," Economica;1977.
• "A Monetary Model of an Open Economy With Focus on the UK," Cambridge University Press;1976.
• "Continuous Disequilibrium Econometric Modeling of UK Banking Portfolio Behavior," Longmans;1973.

Speeches

• Overcoming the Financial Crisis: A Comparative Analysis of Canadian and American Banking Systems. Thomas O. Enders Memorial Lecture, Johns Hopkins University, Washington, DC, May 3, 2012.
• Strengthening Global Financial Stability: Evaluating the Adequacy of the G-20 Reform Agenda. Standard and Poor's Breakfast Event, London, March 14, 2012.
• Does Regulatory Reform Enhance Global Financial Stability? International Finance Seminar, Harvard University, January 23, 2012.
• The Future Landscape of Bank Funding – Is Coverage Sufficient? Keynote Address at Euro Debt Market Conference, Frankfurt, November 17, 2011.
• A New Phase in Cross-Border Capital Flows: Are We Returning to Financial Repression? Reinventing Bretton Woods Committee Conference, Cusco, Peru, July 18–19, 2011.
• The Emerging Global Framework for Financial Regulation: Can It Avert Future Crises? Columbia University, New York, May 5, 2011.
• Recent Advances in Financial Regulation. London School of Economics Executive Summer Program, June 24, 2010.
• Key Risk Management and Regulatory Priorities in Asia Today. Asian Banker Summit, Singapore, April 19, 2010.
• The New Global Regulatory Reform Framework – Will It Stabilize the International Financial System? Harvard Law School Symposium on Building the Financial System, Armonk, NY, March 19, 2010.
• Reforming Financial Regulation Architecture in Response to the Global Crisis. London School of Economics and Political Science, November 11, 2009.
• Lessons from the Global Crisis on Managing Financial Risk. Third Annual Risk Management Conference, National University of Singapore, July 16, 2009.
• Addressing Moral Hazard in Handling Troubled Financial Institutions: Too Big to Fail? Too Complex to Fail? Too Interconnected to Fail? Warwick Symposium on Financial Crisis Management and Bank Resolution, London/Coventry, April 17, 2009.
• Establishing Core Principles for Reforming Global Financial Regulatory Architecture. University of St. Gallen, Switzerland, March 11, 2009.
• Future Directions for Regulation and Supervision in Securities Markets. Committee of European Securities Regulators Conference, Paris, February 23, 2009.
• Insights from the Global Financial Meltdown on Risk Management Practices. Global Association of Risk Professionals Conference, New York, February 10, 2009.
• Securitisation: Did the Tail Wag the Dog?, May 29, 2008.
• European and International Financial Markets: Entering a New Era? Aspen Seminar for Leaders, San Clemente Island near Venice, May 16, 2008.
• The Euro as a Catalyst for Deepening Global Financial Markets. Brussels Economic Forum on Economic and Monetary Union in Europe: A Decade Later., Brussels, May 15, 2008.
• Market Turmoil Exposes Vulnerabilities: What Are the Next Steps? Chatham House Seminar on The New Financial Frontiers, London, April 29, 2008.
• Reflections on the Future of the Originate-to-Distribute Model Amid Current Financial Turbulence. Euro 50 Group Roundtable on The Future of the Originate and Distribute Model, London, April 21, 2008.
• Risk Dynamics in the Current Financial Turmoil: Visible One Moment and Gone the Next. Ninth Annual Risk Management Convention and Exhibition of the Global Association of Risk Professionals, New York, February 26, 2008.
• Transparency and Communication Strategies in Monetary Policy. Joint BSP-BIS High-Level Conference on Transparency and Communication in Monetary Policy, Manila, February 1, 2008.
• The Rising Role of Islamic Finance within the Global Financial System. Islamic Financial Services Board Forum II., Frankfurt, December 6, 2007.
• European Financial Integration During Periods of Market Volatility. Eurofi Conference on Achieving European Financial Market Integration in a Global Context, Brussels, December 3, 2007.
• Globalization and Demographic Trends: Effects on Labor Markets and Inflation. BIS Conference Honoring Palle S Andersen, Basel December 3, 2007.
• Credit Market Turmoil: Implications for Finance and Macroeconomics. Group of Thirty International Banking Session on The Evolving Structure of the World Economic System, Washington DC., October 22, 2007.
• Global Banking Paradigm Shift – Navigating Transitional Challenges. Federation of Indian Chambers of Commerce and Industry (FICCI) – Indian Banks' Association (IBA) Conference Mumbai., September12 ,2007
• Outlook and Policy Directions for the Global Economy. Bank's Annual General Meeting Address Basel June24 ,2007
• Financial Market Globalization & Regulatory Impacts: Latin American Perspectives. Centro para la Estabilidad Financiera Buenos Aires June5 ,2007
• Perspectives on Financial Risks from a BIS Standpoint. Central Bank Argentina Money & Banking Conference Buenos Aires June4-5 ,2007
• Inflation Targeting Practices in Emerging Market Economies. Seminar Bank Morocco April4 ,2007
• Risk Visibility: Small vs. Large Risks – Now You See Them Now You Don’t. Eighth Annual Risk Management Convention Global Association Risk Professionals February27-28 ,2007
• Monetary Policy Goals & Challenges. Inflation Targeting Conference Magyar Nemzeti Bank Budapest January18-19 ,2007