Fabrizio Saccomanni facts for kids
Quick facts for kids
Fabrizio Saccomanni
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| Minister of Economy and Finance | |
| In office 28 April 2013 – 22 February 2014 |
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| Prime Minister | Enrico Letta |
| Preceded by | Vittorio Grilli |
| Succeeded by | Pier Carlo Padoan |
| Director of the Bank of Italy | |
| In office 2 October 2006 – 28 April 2013 |
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| Governor |
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| Preceded by | Vincenzo Desario |
| Succeeded by | Salvatore Rossi |
| Personal details | |
| Born | 22 November 1942 Rome, Kingdom of Italy |
| Died | 8 August 2019 (aged 76) San Teodoro, Italy |
| Political party | Independent |
| Alma mater | |
| Profession | Economist |
Fabrizio Saccomanni (born 22 November 1942 – died 8 August 2019) was an important Italian economist and public servant. He worked as the director general of the Bank of Italy, which is like Italy's central bank. He also served as the Minister of Economy and Finance for Italy from April 2013 to February 2014. Later in his life, he became the chairman of UniCredit, a large bank.
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Early Life and Education
Fabrizio Saccomanni was born in Rome, Italy, on 22 November 1942. He studied economics and business at Bocconi University in Italy, earning his master's degree in 1966. He also took special courses in money and international economics at Princeton University in the United States.
Fabrizio Saccomanni's Career
Saccomanni spent most of his working life at the Bank of Italy. This is Italy's central bank, which helps manage the country's money and economy.
Working Around the World
His time at the Bank of Italy was sometimes paused for other important jobs:
- From 1970 to 1975, he worked at the International Monetary Fund (IMF). The IMF helps countries around the world with their money problems.
- From 2003 to 2006, he was a vice president at the European Bank for Reconstruction and Development in London. This bank helps countries in Europe develop their economies.
- He also led the foreign exchange policy committee of the European Monetary Institute from 1991 to 1997. This group helped prepare for the Euro currency.
Leading the Bank of Italy
Saccomanni started his career at the Bank of Italy in June 1967. He became the director general of the bank on 2 October 2006 and was reappointed in 2012. In this role, he helped guide Italy's financial policies. He also served on the board of the Bank for International Settlements. This is an organization for central banks around the world. He also represented the Bank of Italy at the European Central Bank.
Saccomanni was also a member of the European Council on Foreign Relations. This is a group that studies European foreign and safety policies.
Serving as Minister of Economy and Finance
On 27 April 2013, Enrico Letta, who was chosen to be Italy's prime minister, announced that Saccomanni would become the Minister of Economy and Finance. This is a very important job, as the minister manages the country's money and financial plans.
Saccomanni started his term on 28 April, taking over from Vittorio Grilli. He was known as a "technocrat" in Letta's government. This means he was an expert chosen for his skills, not because he was a politician. His time as minister ended on 22 February 2014. Pier Carlo Padoan took his place when a new government, led by Matteo Renzi, was formed.
Later Life and Legacy
In 2008, Saccomanni wrote a book about dealing with financial crises. It was called Managing international financial stability: National tamers versus global tigers.
In 2011, his old university, Bocconi University, named him "alumnus of the year." They recognized him for his professionalism, honesty, and open-mindedness. In October 2014, he became a senior advisor to OMFIF, a financial think tank.
Fabrizio Saccomanni passed away in San Teodoro, Sardinia, on 8 August 2019, at the age of 76. After his death, Jean Pierre Mustier, the head of UniCredit, said that Saccomanni was a "friend of great intelligence and humanity." Cesare Bisoni took over Saccomanni's role at UniCredit.
