Born in Milan in 1948.

Graduated in Economia e Commercio, Bocconi University (Milan) in 1971.
He has been Director of The Institute of Economia Politica, Bocconi University (Milan),
Temporary Professor of Politica Economica e Finanziaria, State University of Brescia, and
member of the committee which has initiated the Libera Università di Bolzano.

Regular Professor of Teoria e Politica Monetaria Internazionale at Bocconi University and Deputy Chairman and Scientific Director of the Institute for studies of International Politics (Palazzo Clerici – Milan), member of the Council of Management of SUERF (Sociètè Universitaire Europèenne de Recherches Financiéres, of which he has been Deputy Chairman and then Chairman) and member of the European Shadow Financial Regulatory Committee.

He was Independent Director of Saipem S.p.A. (from 1998 to 2005) and he is Member of the Board of Directors of Pioneer Global Asset Management SpA (from 2000), of Unicredito Banca Mobiliare SpA (from 2000) and of Unicredit Audit S.p.A. (from 2006).

Member of the Advisory Board of "Journal of Financial Stability" (Loyola University, Chicago) and of the Scientific Committees of several publications pertaining to the economic and financial sector.

He has been the author of several publications in the field of macro-economy, monetary economy, international banking and of the financial regulation. Presently leader writer for the daily  newspaper "La Stampa".

He holds the requirements contempleted by the Code of Conduct issued by the Committee for the Corporate Governance of Listed Companies to be qualified as indipendent.