The Bank for International Settlements has appointed Beju Shah as the new Head of the Toronto Innovation Centre.
Supported by the Bank of Canada, the centre was opened in June 2022 to explore the development of emerging technologies in Canada and throughout Latin America and the Caribbean.
Since 2022, Shah has led the Nordic Centre of the BIS Innovation Hub, overseeing initiatives related to cyber security and resilience, financial crime prevention, the future of money and payments, and artificial intelligence. Prior to joining the BIS, he spent 10 years at the Bank of England, where he managed large data, technology, and business transformation programs.
The Toronto Innovation Centre will initially focus on projects that investigate next-generation financial market infrastructures, as well as innovations for regulatory, supervisory, and oversight purposes, including open finance. These areas align with three of the BIS’s six priority themes for its Innovation Hub, which also include cyber security, green finance, and central bank digital currencies.
Toronto is the first BIS Innovation Hub facility located in the Americas, joining six other centres based in Switzerland, the Eurosystem, London, the Nordics, Hong Kong, and Singapore.