Ignazio Visco | |
---|---|
Governor of the Bank of Italy | |
In office 1 November 2011 – 31 October 2023 | |
Preceded by | Mario Draghi |
Succeeded by | Fabio Panetta |
Deputy Director General of the Bank of Italy | |
In office 9 January 2007 – 1 November 2011 | |
Governor | Mario Draghi |
Preceded by | Pierluigi Ciocca |
Succeeded by | Salvatore Rossi |
Personal details | |
Born | Naples, Italy | 21 November 1949
Education |
Sapienza University University of Pennsylvania |
Ignazio Visco OMRI (Italian pronunciation: [iɲˈɲattsjo ˈvisko]; born 21 November 1949) is an Italian economist and central banker and Governor of the Bank of Italy fromn 2011 to 2023. [1] [2]
Visco was born in Naples on 21 November 1949. [3] He obtained a summa cum laude degree in economics from the Sapienza University of Rome [3] in 1971 with Federico Caffè as supervisor and continued his studies at the University of Pennsylvania ( Economics Department), where he obtained an MA in 1974 and a PhD in Economics in 1981. [3]
In 1972, Visco began his career at the Bank of Italy and in 1990 he was named head of the research department; from 1997 to 2002 he was chief economist of the Organisation for Economic Co-operation and Development (OECD) and on 9 January 2007 he was named deputy director-general of the Bank of Italy (alongside Giovanni Carosio) and a member of its Direttorio (Board of Directors). [4]
On 24 October 2011, Visco was named to succeed Mario Draghi as governor of the Bank of Italy by Italian President Giorgio Napolitano. [2] [5]
Starting from 1 January 2013, in accordance with Legislative Decree 95/12 (converted into law, with modifications, from Law no.135/2012), he also holds the position of chairman of the joint governing board of the Italian Insurance Supervisory Authority (IVASS).[ citation needed]
On 28 January 2015, [6] Visco was placed under investigation by the Prosecutor of Spoleto as part a probe into the special administration of Banca Popolare di Spoleto. [7] In September 2016, the case was definitively dropped by a judge, upholding the prosecutor's request. [8]
During his time in office, Visco came under fire for failing to effectively tackle Italy's banking woes. In October 2017, the country's ruling centre-left Democratic Party submitted a motion in Parliament calling for new leadership at the Bank of Italy, casting doubt on Visco's chances of being reappointed to a second term. [9] Following a proposal made by Prime Minister Paolo Gentiloni and his cabinet to renominate Visco and the endorsement of the Bank of Italy's high council, President Sergio Mattarella signed a decree to reappoint Visco for a second six-year term. [10] [11] [12]
Knight of the Order of Merit of the Italian Republic – awarded on 2 June 1991 [17] | |
Officer of the Order of Merit of the Italian Republic – awarded on 27 December 1993 [17] | |
Commander of the Order of Merit of the Italian Republic – awarded on 2 June 2002 [17] | |
Grand Officer of the Order of Merit of the Italian Republic – awarded on 2 June 2007 [17] | |
Knight Grand Cross of the Order of Merit of the Italian Republic – awarded on 25 October 2011 [17] |
Media related to Ignazio Visco at Wikimedia Commons