Italy govt clears Mario Draghi appointment as Bank of Italy governor - sources
ROME (AFX) - The cabinet has approved a decree appointing Goldman Sachs
manager Mario Draghi as governor of the Bank of Italy replacing of Antonio
Fazio, government sources said.
The decree still has to be signed by president of the republic Carlo Azeglio
Ciampi.
Earlier, the Bank of Italy's board approved Mario Draghi candidacy to
governorship.
Under nomination rules, the board had to give a non-binding opinion on a
candidate proposed by Ciampi, which then had to be approved by the government.
Draghi, 58, was the economy ministry's director general from 1991 to 2001,
during which he took part in an extensive privatisation programme, and joined
Goldman Sachs in 2002.
He was also an advisor to the Italian central bank in 1990 and was executive
director of the World Bank from 1984 to 1990.
According to the daily Il Sole 24 Ore, Draghi could take up the job in
February, replacing Vincenzo Desario, who is temporarily acting as governor
after the resignation earlier this month of Fazio.
Fazio was criticised for his handling of a takeover battle between Banca
Popolare Italiana and ABN Amro Holding NV for the control of Banca Antonveneta
SpA.
philip.webster@afxnews.com
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