Vittorio Grilli (born 19 May 1957) is an

Italian Italian(s) may refer to: * Anything of, from, or related to the people of Italy over the centuries ** Italians, a Romance ethnic group related to or simply a citizen of the Italian Republic or Italian Kingdom ** Italian language, a Romance languag ...

economist and academic. He was

Italy Italy, officially the Italian Republic, is a country in Southern Europe, Southern and Western Europe, Western Europe. It consists of Italian Peninsula, a peninsula that extends into the Mediterranean Sea, with the Alps on its northern land b ...

's minister of economy and finance from 2012 to 2013 as part of the

Monti cabinet The Monti government was the sixty-first government of Italy and was announced on 16 November 2011. This Government of Experts, Experts' cabinet was composed of independents, three of whom were women and was formed as an interim government. The ...

Education

Grilli was born in

Milan Milan ( , , ; ) is a city in northern Italy, regional capital of Lombardy, the largest city in Italy by urban area and the List of cities in Italy, second-most-populous city proper in Italy after Rome. The city proper has a population of nea ...

on 19 May 1957. He graduated from

Bocconi University Bocconi University or Università Bocconi (formally known in Italian language, Italian as ''Università Commerciale Luigi Bocconi'' – Luigi Bocconi Commercial University) is a private university in Milan, Italy. The university is consistently ...

in Milan in 1981 with a master of arts degree in economics. He received a PhD in economics from the

University of Rochester The University of Rochester is a private university, private research university in Rochester, New York, United States. It was founded in 1850 and moved into its current campus, next to the Genesee River in 1930. With approximately 30,000 full ...

in 1986.

Career

Grilli was an assistant professor of economics at the Department of Economics of

Yale University Yale University is a Private university, private Ivy League research university in New Haven, Connecticut, United States. Founded in 1701, Yale is the List of Colonial Colleges, third-oldest institution of higher education in the United Stat ...

from 1986 to 1990. Then he joined the University of London's

Birkbeck College Birkbeck, University of London (formally Birkbeck College, University of London), is a public research university located in London, England, and a member institution of the University of London. Established in 1823 as the London Mechanics' ...

as Woolwich Professor of financial economics from 1990 to 1994. He served as head of the department of economics and financial analysis and privatizations at the ministry of treasury, budget and financial programming from 1994 to 2000. Then he became managing director and head of the Italian investment banking

Credit Suisse First Boston Credit Suisse First Boston (also known as CSFB and CS First Boston) was the investment banking affiliate of Credit Suisse headquartered in New York. The company was created by the merger of First Boston Corporation and Credit Suisse Group in 1 ...

in London in 2001 and was in office until 2002. Next, he was appointed general accountant of the Italian State in 2002, and his tenure lasted until 2005. He was named as the director general of the Italian treasury in 2005 where he served until 2011. He held the position of sole commissioner of the Italian Institute of Technology foundation and then became its president in the following period. He was made vice-president of the economic and financial committee (EFC) of the

European Union The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The u ...

in March 2009 and in March 2011, he was chosen to chair the EFC. Grilli's tenure lasted until January 2012, and he was replaced by Thomas Wieser in the post. In September–October 2011, following the appointment of

Mario Draghi Mario Draghi (; born 3 September 1947) is an Italian politician, economist, academic, banker, statesman, and civil servant, who served as the prime minister of Italy from 13 February 2021 to 22 October 2022. Prior to his appointment as prime mi ...

as president of the

European Central Bank The European Central Bank (ECB) is the central component of the Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#International ...

, he was one of the possible candidates for the position of governor of the

Bank of Italy The Bank of Italy (Italian language, Italian: ''Banca d'Italia'', , informally referred to as ''Bankitalia'') is the National central bank (Eurosystem), national central bank for Italy within the Eurosystem. It was the Italian central bank from ...

, but the position went to

Ignazio Visco Ignazio Visco (; born 21 November 1949) is an Italian economist and central banker and Governor of the Bank of Italy from 2011 to 2023. Early life and education Visco was born in Naples on 21 November 1949. He obtained a ''summa cum laude'' d ...

. Grilli was appointed deputy minister of economy and finances in November 2011, and served in this post until 11 July 2012 prior to his appointment as minister. Grilli swore the next day and the Presidency of the Council announced that he would be permanently invited to attend meetings of the Council of Ministers. Grilli also worked as an advisor to private companies including Enel and

Alitalia Alitalia - Società Aerea Italiana S.p.A., operating as Alitalia (), was an Italian airline which was once the flag carrier and largest airline of Italy. The company had its head office in Fiumicino, in the Metropolitan City of Rome Capital. ...

. He is a member of the European think tank organization Bruegel and of the Aspen Institute Italia. On 12 May 2014 Grilli became president at Corporate and Investment Bank for Europe, Middle East and Africa for

JPMorgan JPMorgan Chase & Co. (stylized as JPMorganChase) is an American multinational finance corporation headquartered in New York City and incorporated in Delaware. It is the largest bank in the United States, and the world's largest bank by mar ...

. He is also a member of the European Group at

Trilateral Commission The Trilateral Commission is a nongovernmental international organization aimed at fostering closer cooperation between Japan, Western Europe and North America. It was founded in July 1973, principally by American banker and philanthropist David ...

Minister of Economy and Finances

Grilli replaced

Mario Monti Mario Monti (; born 19 March 1943) is an Italian politician, economist and academic who served as the Prime Minister of Italy from 2011 to 2013, leading a Technocratic government (Italy), technocratic government in the wake of the European sov ...

as minister of economy and finances on 11 July 2012. Grilli was also a member of the economic and financial policy coordinating committee established in July 2012 of which other members were Monti, Ignazio Visco, the governor of the Bank of Italy, and

Corrado Passera Corrado Passera (born on 30 December 1954 in Como, Italy) is an Italian manager and banker, who has served as Minister of Economic Development and Infrastructure and Transport in the Mario Monti Cabinet. Biography Corrado Passera was born i ...

, economic development minister. The committee was chaired by Monti. On 9 September 2012, Grilli announced that Italy's current financial status was not required to apply for the new euro-zone aid program. In December 2012, he reported that he did not have any plan to work in a government post or a treasury position after the 2013 February general election in Italy. Grilli's term as economy minister ended in April 2013, and

Fabrizio Saccomanni Fabrizio Saccomanni (22 November 1942 – 8 August 2019) was an Italian economist, civil servant and the director general of the Bank of Italy. He served as minister of economy and finance between April 2013 and February 2014. From 13 April 2018 ...

succeeded him in the post.

Other activities

Grilli has been a member of the European Group of the

since June 2022.

Recognition

Grilli was awarded the Gold Medal of Bocconi University (1981), the Saint Vincent Prize for Economics (1992), the Tarantelli Prize for the best economic idea (2004), the 2005 Bocconi Prize, and the Guido Carli Prize for the best new financial initiative - Fund for SMEs (2010). In 2011, he was also awarded Grand Cross Knight (Cavaliere di Gran Croce).

Personal life

Grilli's first spouse, Lisa Lowestein, is an art expert. It was rumoured that she was hired by the

Finmeccanica group Leonardo S.p.A., formerly Leonardo-Finmeccanica and originally Finmeccanica, is an Italian multinational company specialising in aerospace, defence and security. Headquartered in Rome, the company has 180 sites worldwide. It is the 12th largest d ...

as a consultant in September 2012. However, the firm denied the reports.

References

External links

* {{DEFAULTSORT:Grilli, Vittorio 20th-century Italian economists 21st-century Italian politicians 21st-century Italian economists 1957 births Academics of Birkbeck, University of London Bocconi University alumni Ministers of finance of Italy Independent politicians in Italy Living people University of Rochester alumni Yale University faculty JPMorgan Chase people