Born in Roma in 1934.

Since 1981 he has been Regular Professor at the University of Rome "La Sapienza".
Joint-owner of the firm Libonati-Jager from 1999 (in liquidation from January 2006).
Director of the Magazine of corporate law and general law on bonds. He is Co-Director of Competition and Market, member of the directive committee of the Company's Magazine.

He has covered the position of Chairman of the Board of Directors of Banco di Sicilia from 1994 to 1997; from 1995 to 1997 he has been Chairman of the Board of Directors of Finnat-Euramerica SIM S.p.A.; from 1998 to 1999 he has been Chairman of Telecom Italia S.p.A. and of Tim S.p.A.; and member of the Board of Auditors of ENI S.p.A. from 1992 to 1995; he was Chairman of the Board of Directors of Swiss Re Italia SPA from 1996 to June 2006 and member of the Board of Directors of Acotel Group S.p.A. from May 2000 to October 2005.

From 2000 he is Chairman of Unidroit; member of the Board of Directors of Mediobanca S.p.A., from 2001 and he is Chairman of Banca di Roma from 2002.

Since 2003 he is member of the Board of Directors of ESI S.p.A. and member of the Board of Directors of Nomisma from May 2003.

He is member of the Board of Directors of RCS MediaGroup S.p.A. from April 2006.

He is Chairman of Alitalia S.p.A. from February 2007.

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.