Ron Morrow, an advisor to Bank of Canada governor Tiff Macklem, has been named the bank’s executive director for retail-payments supervision, a position that reports directly to the governor. The appointment is effective Aug. 9. (The Logic)

Talking point: It comes as the bank takes on a greater regulatory function, with plans to oversee tech companies operating in payments. In his new role, Morrow, a longtime employee at the bank, will lead the design and implementation of the Retail Payments Supervision Framework, build a team of employees to handle the bank’s expanded mandate and advise Macklem on issues related to payment-service providers. As The Logic previously reported, the new mandate could place the staid institution into politically contentious territory, and the appointment of a designated executive to oversee the file shows how big of a commitment the task will be.