degree from Luiss, master’s degree in London, from the ECB to his return to Bankitalia-Corriere.it

Fabio Panetta has already covered the role of general manager at the Bank of Italy and president of the Institute for Insurance Supervision. Now, the Council of Ministers will start the process for his appointment as governor. Member of the Executive Board of the European Central Bank since 1 January 2020.

Studies

His cursus honorum within the institute has never known a hitch ever since, at a very young age, he prepared analyzes on the money markets for Carlo Azeglio Ciampi. Born in Rome on August 1, 1959, Panetta is an economist, graduated in Economics and Business from the Luiss Guido Carli University of Rome in 1982. After that, he obtained the Master of Science in Monetary Economics in Great Britain, at the London School of Economics in 1984 and then, in 1996, a PhD in Economics and Finance at the London Business School.

Career in Bank of Italy

He joined Bankitalia in 1985 and became head of the monetary and financial division in 1999. Antonio Fazio noticed him in those years, who made him his first “adviser” for banking issues. In 2007 he was nominated head of the business cycle and monetary policy research department and in 2011 he became dthe central director for the coordination of participation from the Bank of Italy to the Eurosystem. At the same time, from 2010 to 2012, he was also director in charge of the Financial Stability Report. he was a member of the Board of Directors of the Bank for International Settlements from 2016 to 2018 and alternate governor on the same board. From 8 October 2012 to 9 May 2019 he was deputy general manager of the Bank of Italy, until he became – from May 10 – the general manager also the president of the Institute for insurance supervision.

At the ECB

From 1 January 2020 he started his career at the European Central Bank, where he became a member of the executive board. Regarding the tightening of interest rates, he said: it must be calibrated with prudence, because it is already having a strong impact on financial conditions and because we want to avoid unwanted financial volatility. He then added that monetary policy must remain fully adaptive to developments given the prevailing uncertainty, the timescales with which it operates and the risk of sudden financial stress, although this will require a data-driven approach, which does not prejudge future policy decisions and which reflects the risks.