Born in Bologna in 1954, he graduated in law at the University of Bologna in 1977 and earned a master of arts at the School of Advanced International Studies of Johns Hopkins University (Washington, DC) in 1979.
After a short period spent working at the Bank of Italy (1980-1981), he joined the World Bank Group in 1981; from 1982 to 2001, he held positions of increasing responsibility within the International Finance Corporation, an affiliate of the World Bank Group whose aim is to support the private sector in developing countries. Among the positions held within the International Finance Corporation, he was Head of the Sub-Saharan Africa Department (from 1997 to 2000) and Head of the Global Financial Markets Group (from 2000 to 2001). He was Vice President of the World Bank from 2001 to 2006, during which he was responsible for the Bank’s operations and strategies in the financial sector, for its work on international financial architecture and for anti-money laundering; at that time, he was also member of the Financial Stability Board (formerly Financial Stability Forum) and Chairman of CGAP (Consultative Group to Assist the Poor), a trust fund for the promotion of microfinance.
He has been a partner and managing director of Encourage Capital (formerly Wolfensohn Fund Management) since October 2006, a U.S. company managing private equity investments with high social and environmental impact. He is currently a partner as well as Chairman of the investment committee of Encourage Solar Finance, a private equity fund specialized in the financial services sector in India in support of rooftop solar finance.
He has gained a wide managerial and strategic experience in the financial services sector while covering such roles, as well as a broad knowledge of corporate and project finance and issues related to corporate governance, and regulation of the financial sector worldwide.
He has been member of the boards of directors of companies operating in different businesses, such as the Czech Zivnostenska Banka (from 1992 to 1995), the Chilean Moneda Asset Management (from 2001 to 2005), the Italian Assicurazioni Generali (from 2010 to 2013) and Terna (from 2014 to 2017), the Polish International Bank in Poland (from 1991 to 1994) and Meritum Bank (from 2011 to 2013), the Turkish Global Ports Holding (from 2013 to 2016), and the Hungarian Nomura Magyar (from 1991 to 1994). In addition, he has lectured as an adjunct professor of International Finance at Johns Hopkins University, SAIS, in Washington.
Member of the Board of Directors of Enel since May 2017.
Last update: December 10, 2020