A Note from our Chief Economist


It is often said that if you want to throw a fun party, never invite economists.

If you don’t know why, just sit through a discussion in an advance econometrics class and it’ll become clear. However, I work with a group of economists who break the mold. They’re inquisitive, energetic and wonderful communicators. I oversee our forecasting group for Canada, the U.S. and international economies. As a result, there is no such thing as a boring day, especially during these turbulent times. Part of what makes this career exciting and interesting is having the opportunity to work extensively with colleagues across TD from a number of different functional areas. At the same time, I spend a significant amount of time speaking with external TD clients and addressing their concerns. I have the benefit of a career that bridges the life of an academic in many respects, by allowing me to research an array of topics, from general economic forecasting to policy initiatives on women labour market issues. I started my career as an economist in 1998, and joined TD after nearly 4 years in capital markets at RBC, providing Canadian and U.S. economic analysis to foreign exchange, money market and bond desks. My husband and I live in Etobicoke with our energetic Lab, who can often be seen sneaking a swim in the Humber River.

Beata Caranci

Chief Economist and Senior Vice-President of TD Bank Group


Leadership at TD Economics

Beata Caranci

Beata Caranci

Beata Caranci is the Chief Economist for TD Bank Group. She joined the bank in 2003 and leads an agile team of economists, tasked with delivering analysis and forecasts for TD's planning process, as well as the regulatory stress test exercises. The team delivers on a wide scope of research, covering the Canadian, U.S., and global economies. Beata serves on a number of committees within TD, including the retirement investment committee, as well as being a member of C.D Howe's Monetary Policy Council and the American Bankers Economic Advisory Council.

Beata is a passionate supporter of TD’s diversity initiatives and has dedicated more than a decade to researching and driving awareness among Canadian policymakers on the labour market friction experienced by women. Her research report, “Get on Board Corporate Canada,” helped influence the Ontario Securities Commission’s rule amendments on disclosure of women on boards and in senior management. Recently, Beata has focused on offering policy prescriptions to counter systemic biases within the educational and workplace environments that are impacting women in STEM fields.

Beata holds a Master’s Degree in Business Economics. Prior to joining TD, she worked nearly four years on a trading floor providing economic analysis to foreign exchange, money market and bond desks.

Derek Burleton

Derek Burleton

Derek Burleton is Vice President and Deputy Chief Economist for TD Bank Group.  In his role, he leads a team of economists that provides leading analysis on the Canadian and U.S. economies.  Each year, he travels extensively across the Canada and the U.S., speaking at more than 75 events on economic and financial developments.  As a respected commentator, Derek has been quoted by many media outlets – including the London Financial Times and the Economist.  He also is frequently interviewed on the radio and television.

Derek maintains a strong interest in public policy issues, and has written substantive reports on health care sustainability, education and immigration reform.   He participates in a number of advisory and steering committees both internal and external to TD Bank Group and currently serves on the Board of the Toronto Association of Business Economists (TABE). 

Derek Burleton received his Bachelor of Commerce from Queen’s University and an M.Sc. in Economics from the London School of Economics.   Derek has more than 20 years of experience as an economist in the financial industry.