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Member of the ECB's Executive Board

Education

1996
PhD, Economics and Finance, London Business School
1984
M.Sc., Monetary Economics, London School of Economics
1982
Degree with honours in Economics, LUISS University, Rome

Career

Since 2020
Member of the Executive Board, European Central Bank
2019
Senior Deputy Governor of the Banca d’Italia
President of the Italian Insurance Supervisory Authority
Member of the General Board of the European Systemic Risk Board
Alternate member for Italy of the G7 and the G20
Member of the Board of Directors of the International Center for Monetary and Banking Studies in Geneva and of the Governing Council of the Einaudi Institute for Economics and Finance
2014-2019
Member of the OECD Working Party 3
2013 and 2015-2018
Member of the Board of Directors of the Bank for International Settlements
2014-2019
Member of the SSM Supervisory Board at the European Central Bank
Since 2013
Member of the Joint Directorate of the Insurance Supervisory Authority (Ivass)
2003-2019
Member of the Committee on the Global Financial System of the Bank for International Settlements
2012-2019
Member of the Governing Board and Deputy Governor of the Banca d’Italia
2011
Managing Director for the Eurosystem and Financial Stability, Banca d’Italia
2007-2011
Head of the Economic Outlook and Monetary Policy Department, Banca d’Italia
2004-2017
Accompanying person and alternate member for Banca d’Italia on the Governing Council of the European Central Bank
2000-2007
Monetary and Financial Division, Banca d’Italia

Selected professional activities

  • Chairman of the Working Group on Sovereign Risk and Bank Funding Conditions, reporting to the Committee on the Global Financial System of the Bank for International Settlements, 2010-2011
  • Member of the Board of Directors of the International Journal of Central Banking, 2005-2011
  • Chairman of the Study Group on Financial Market Volatility, reporting to the Committee on the Global Financial System of the Bank for International Settlements, 2005-2006
  • Chairman of the Working Group on Efficiency, Competition and Credit Flows in the context of the survey, promoted by the G10 Finance Ministers and central bank governors, on the consolidation process for the banking and finance sector, 2000-2001
  • Member of the OECD’s High Level Group of Monetary Experts (Paris), 1999-2002
  • Member of the Working Party on Equities Markets, established by the governors of the central banks of the G10 countries, 1998-2000

Selected honours, awards and grants

  • Knight Grand Cross of the Order of Merit of the Republic of Italy, 2019
  • High Official of the Order of Merit of the Republic of Italy, 2019
  • Alumnus of the year, LUISS University, Rome, 2019
  • Premio Giornalistico Internazionale Santa Margherita Ligure per l’Economia as the best writer on economics, 2006
  • Scholarship from the Ministry of Education for studies abroad in Political Economy, 1983
  • Awarded the “Paolo Andreini” scholarship by the Bank of Italy for studies abroad in economics, 1985

Academic profile

Speaker on economics and finance topics at:

American Economic Association, Board of Governors of the Federal Reserve System, Federal Reserve Bank of Chicago, Bank for International Settlements, De Nederlandsche Bank, Federal Deposit Insurance Commission, Borsa di Milano, Associazione Bancaria Italiana, Italian Ministry of Economy and Finance, Consob, the European University Institute (Florence), London Business School, London School of Economics, Università Bocconi, Bank of Canada, Sapienza University, Tor Vergata University, Center for International Studies, Istituto per la Ricerca sociale, Centre for Economic Policy Research, Monte Titoli S.p.A., Università di Pavia, Bank of England, Associazione per gli Studi di Banca e Borsa, LUISS University, Università Cattolica del Sacro Cuore (Milano), Università di Ancona, Università di Sassari, Università di Verona, Autorità Garante per la Concorrenza, Associazione Prometeia, Frankfurt Institute for Law and Finance, Banque centrale du Luxembourg.

Published in:

The American Economic Review; Journal of Money, Credit and Banking; Journal of Finance; European Economy; Journal of Banking and Finance; Economic Notes; Economic Perspectives; European Economic Review; Revue d’économie financière; Giornale degli economisti e annali di economia; Financial Times; Banche e Banchieri; Bancaria, Banca Impresa Società; Finanza, Imprese e Mercati; Il Risparmio; Economia, società e istituzioni and others, as well as authoring and co-authoring numerous working papers.

Referee for:

American Economic Review, Quarterly Journal of Economics, Journal of Money, Credit and Banking, Review of Economics and Statistics, Journal of Financial Intermediation, Journal of Banking and Finance, Journal of Development Economics, Journal of the European Economic Association, Open Economies Review, International Review of Economics and Finance, Economic Modelling, Economic Notes, Rivista di Politica Economica, Moneta e Credito and Politica Economica.