Fabrizio Saccomanni (22 November 1942 – 8 August 2019) was an Italian economist, civil servant and the director general of the

Bank of Italy The Bank of Italy (Italian: ''Banca d'Italia'', informally referred to as ''Bankitalia''), (), is the central bank of Italy and part of the European System of Central Banks. It is located in Palazzo Koch, via Nazionale, Rome. The bank's curre ...

. He served as minister of economy and finance between April 2013 and February 2014. From 13 April 2018 until his death, Saccomanni was the

chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

UniCredit UniCredit S.p.A. is an international banking group headquartered in Milan. It is Italy's only systemically important bank (according to the list provided by the Financial Stability Board in 2022) and the world's 34th largest by assets. It was for ...

Early life and education

Saccomanni was born in Rome on 22 November 1942. He held a master's degree in economics and business, which he received from the Bocconi University in 1966. He also took postgraduate courses in monetary and international economics at

Princeton University Princeton University is a private university, private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth, New Jersey, Elizabeth as the College of New Jersey, Princeton is the List of Colonial Colleges, fourth-oldest ins ...

Career

Saccomanni worked at the Bank of Italy most of his career. His tenure at the bank was only interrupted when he worked at the International Monetary Fund (1970–1975) and at the London-based

European Bank for Reconstruction and Development The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies. Initially focus ...

where he served as vice president from 2003 to 2006. He also served as the chairman of the foreign exchange policy committee of the

European Monetary Institute The European Monetary Institute (EMI) was the forerunner of the European Central Bank (ECB), operating between 1994 and 1997. History The EMI was created 1 January 1994 to oversee the second stage in the creation of monetary union. The EMI itself ...

from 1991 to 1997 in addition to his post at the Bank of Italy. He was the director general of the Bank of Italy where he started his career in June 1967. He was appointed to the post on 2 October 2006 and reappointed in 2012. He was also a board member of the

Bank for International Settlements The Bank for International Settlements (BIS) is an international financial institution owned by central banks that "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work thr ...

and an alternate to the governor of the Bank of Italy in the governing council of the

European Central Bank The European Central Bank (ECB) is the prime component of the monetary Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#Intern ...

. Saccomanni was a council member of the

European Council on Foreign Relations The European Council on Foreign Relations (ECFR) is a pan-European think tank with offices in seven European capitals. Launched in October 2007, it conducts research on European foreign and security policy and provides a meeting space for decisi ...

, an international

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which conducts research on European foreign and security policies.

Minister of Economy and Finances

On 27 April 2013, prime minister-designate

Enrico Letta Enrico Letta (; born 20 August 1966) is an Italian politician who served as Prime Minister of Italy from April 2013 to February 2014, leading a grand coalition of centre-left and centre-right parties. Since March 2021, Letta has been secretary ...

announced that Saccomanni would serve as minister of economy and finances in his cabinet. His term began on 28 April, and he replaced

Vittorio Grilli Vittorio Grilli (born 19 May 1957) is an Italian economist and academic. He was Italy's minister of economy and finance from 2012 to 2013 as part of the Monti cabinet. Education Grilli was born in Milan on 19 May 1957. He graduated from Bocconi ...

in the post. Saccomanni was one of the technocrats in the Letta cabinet. Saccomanni was replaced by

Pier Carlo Padoan Pier Carlo Padoan (; born 19 January 1950) is an Italian economist who served as Minister of Economy and Finance of Italy from 2014 to 2018. Padoan was director of the International Monetary Fund for Italy from 2001 to 2005. On 1 June 2007, he b ...

as minister of economy and finances on 22 February 2014 when the

cabinet Cabinet or The Cabinet may refer to: Furniture * Cabinetry, a box-shaped piece of furniture with doors and/or drawers * Display cabinet, a piece of furniture with one or more transparent glass sheets or transparent polycarbonate sheets * Filing ...

led by

Matteo Renzi Matteo Renzi (; born 11 January 1975) is an Italian politician who served as prime minister of Italy from 2014 to 2016. He has been a senator for Florence since 2018. Renzi has served as the leader of Italia Viva (IV) since 2019, having been ...

was formed.

Work, later life and death

Saccomanni published a book in 2008 about experiencing financial crisis, ''Managing international financial stability: National tamers versus global tigers''. In 2011, he was named by his alma mater, Bocconi University, as the alumnus of the year for his "professionalism, entrepreneurial spirit, integrity, responsibility and open-mindedness." In October 2014, Saccomanni was appointed senior advisor to the OMFIF. Saccomanni died in San Teodoro, Sardinia, on 8 August 2019 at age 76. Upon his death, UniCredit Chief Executive Jean Pierre Mustier stated, "I have lost a friend of great intelligence and humanity, highly competent with a fine sense of culture and wit". As a result of his death, deputy chairman Cesare Bisoni assumed Saccomanni’s role at UniCredit.

References

External links

* {{DEFAULTSORT:Saccomanni, Fabrizio 20th-century Italian economists 21st-century Italian economists 1942 births 2019 deaths Bocconi University alumni Finance ministers of Italy Italian chairpersons of corporations Letta Cabinet Politicians from Rome Independent politicians in Italy