Council recommends the nomination of Mario Draghi as President of the European Central Bank

The Council today adopted a recommendation on the nomination of Mario Draghi (Italy) as President of the European Central Bank, to succeed Jean-Claude Trichet, whose term of office expires on 31 October, said the Coucil of the European Union in a press release.rnrnThe Council’s recommendation will be submitted to the European Council, which will consult the European Parliament and the ECB, with a view to adopting a final decision at its meeting on 23 and 24 June.rnrnMario DRAGHI CVrnrnBorn in Rome on 3 September 1947, he is married and has two children.rnHe has been appointed Governor of the Bank of Italy on 29 December 2005. rnrnIn this capacity, he is a member of the Governing and General Councils of the European Central Bank and a member of the Board of Directors of the Bank for International Settlements.rnrnHe is also governor for Italy on the Boards of Governors of the International Bank for Reconstruction and Development and the Asian Development Bank. rnrnIn April 2006 he was elected Chairman of the Financial Stability Forum, which became Financial Stability Board in spring 2009.rnrnHe graduated from the University of Rome, received his Ph.D. in economics from the Massachusetts Institute of Technology, and subsequently served as professor of economics at the University of Florence from 1981 to 1991.rnrnPrior to taking the helm of the Bank of Italy, he was vice chairman and managing director of Goldman Sachs International and a member of the firm-wide management committee (2002-2005). rnrnHe was director general of the Italian Treasury (1991-2001), chairman of the European Economic and Financial Committee, a member of the G7 Deputies, and chairman of OECD Working Party 3. He was appointed chairman of the Italian Committee for Privatisations in 1993, and, from 1984 to 1990, was an executive director of the World Bank.rnrnDuring his time at the Treasury, he chaired the committee that revised Italian corporate and financial legislation and drafted the law that governs Italian financial markets. He is also a former board member of several banks and corporations (Eni, IRI, BNL and IMI).rnrnHe is on the Board of Trustees of the Princeton Institute for Advanced Study and the Brookings Institution. He has been an IOP Fellow at the Kennedy School of Government at Harvard University.rnrnHe has also authored and edited several publications on macroeconomic and financial issues.rnrnHe and his wife live in Rome, Italy.