Lorenzo Bini Smaghi
 Lorenzo Bini Smaghi    ( economist, banker) | ||||||||||
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| Born | 29 November 1956 Florence, Tuscany, Italy | |||||||||
| Nationality | Italian | |||||||||
| Alma mater | • UCLouvain • University of Southern California • University of Chicago | |||||||||
| Member of | Belfer Center for Science and International Affairs, Fulbright Program, Italy–USA Foundation | |||||||||
Italian banker who attended Bilderberg/2024
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Lorenzo Bini Smaghi is an Italian economist and banker who was a member of the Executive Board of the European Central Bank from 2005 to 2011. He became chairman of Société Générale in 2015.
Contents
Early life and education
Born in Florence,[1] Bini Smaghi grew up in Brussels, acquiring a knowledge of foreign languages at an early age. In 1974 he graduated from the Lycée Français de Bruxelles. In 1978 he graduated in Economics from the Université catholique de Louvain (Belgium). With a scholarship from the U.S.-Italy Fulbright Commission, in 1980 he received a master's degree in Economics from the University of Southern California; and a PhD from the University of Chicago in 1988.
Career
Bini Smaghi was Director General for International Financial Relations of the Italian Ministry of Economy and Finance. In this capacity, he also was vice-president of the Economic and Financial Committee (EFC) of the European Union from 2003 until 2005. His earlier appointments include: Deputy Director-General Research of the ECB, Head of the Policy Division of the European Monetary Institute in Frankfurt and Head of the Exchange Rate and International Trade Division of the Research Department of the Bank of Italy in Rome. He is the author of several articles and books on international and European monetary and financial issues.
Bini Smaghi was a member of the Executive Board of the European Central Bank[2] under the leadership of fellow Bilderberger Jean-Claude Trichet from June 2005 to November 2011; he was appointed for an eight-year, non-renewable mandate.[3] He took over from fellow Bilderberger Tommaso Padoa-Schioppa.[4]
On the ECB Executive Board, Bini Smaghi was responsible for international and European relations and for the legal department of the Bank and for its administration, including the building of a new headquarters for the ECB in Frankfurt. During his time in office, he also gained a reputation for occasionally openly criticizing the German government over the handling of the European debt crisis.[3]
Bini Smaghi resigned from the ECB in November 2011. At the time, he had been under pressure from the French and Italian governments to step down for several months, after fellow Bilderberger Mario Draghi, another Italian, become president of the ECB.[5] At the same time, he was lobbied by his colleagues on the executive board not to be seen as being under the control of politicians.[3]
Private banking
In 2012, Bini Smaghi became a visiting scholar at Harvard's Weatherhead Center for International Affairs and Senior Research Fellow at Istituto Affari Internazionali in Rome.
Bini Smaghi joined French bank Société Générale as a second vice-chairman and director in 2014. Since January 2015, he has been chairman.[6] Société Générale had previously split the roles of chairman and chief executive as required by European law, appointing Bini Smaghi to chair the board of directors while fellow Bilderberger Frédéric Oudéa continued as chief executive.[7]
Board postions
- Tages Holding, Member of the Board of Directors (since 2014)[8]
- Italgas, Non-Executive Member and Chair of the Board of Directors (2016-2019)[9]
- ChiantiBanca, Chairman of the Board (2016-2017)
- Morgan Stanley International, Independent Member of the Board of Directors (2013-2014)[7]
- Snam, Chair of the Board of Directors (2012-2016)[7]
- Bretton Woods Committee, Member of the Board of Directors (since 2020)[10]
- Scope Foundation, Member of the Board of Trustees (since 2020)[11]
- European Financial Services Roundtable (EFR), Member[12]
- Fondazione Palazzo Strozzi, President[13]
- Leibniz Institute for Financial Research (SAFE), Member of the Policy Advisory Council[14]
- Italy-USA Foundation, Member [15]
Personal life
Bini Smaghi is married to economist Veronica De Romanis and has two children.[16]
Events Participated in
| Event | Start | End | Location(s) | Description |
|---|---|---|---|---|
| Bilderberg/2024 | 30 May 2024 | 2 June 2024 | Spain Madrid | The 70th Bilderberg Meeting |
| Institute of International Finance/Annual Membership Meeting/2025 | 14 October 2025 | 17 October 2025 | US Washington DC | Attendees gained insight from the panels and conversations with prominent figures such as Chairs and CEOs of major financial institutions, Finance Ministers and Central Bank Governors, and Global Standard Setters from around the world. |
References
- ↑ https://www.reuters.com/article/ecb-governingcouncil-idUSL24996320090102/
- ↑ https://www.ecb.europa.eu/home/html/index.en.html
- ↑ a b c Ralph Atkins (November 10, 2011), Bini Smaghi quits ECB after French pressure Financial Times.
- ↑ Ralph Atkins (March 8, 2005), Bini Smaghi gets backing for ECB job Financial Times.
- ↑ Simon Taylor (November 11, 2011), ECB’s Bini Smaghi quits European Voice.
- ↑ https://www.bloomberg.com/news/articles/2015-01-19/societe-generale-names-former-ecb-member-bini-smaghi-as-chairman
- ↑ a b c Martin Arnold and Michael Stothard (January 19, 2015), Société Générale splits chairman and chief’s roles Financial Times.
- ↑ Lorenzo Bini Smaghi Belfer Center for Science and International Affairs, Harvard University.
- ↑ Lorenzo Bini Smaghi Italgas.
- ↑ BWC Announces Board of Directors, Global Advisory Council Bretton Woods Committee, press release of October 12, 2020.
- ↑ Foundation set up to safeguard Scope’s European identity Scope Group, press release of September 3, 2020.
- ↑ 2017 Annual Report European Financial Services Roundtable (EFR).
- ↑ https://www.palazzostrozzi.org
- ↑ Policy Council Leibniz Institute for Financial Research (SAFE).
- ↑ https://www.italiausa.org/staff/?lang=en
- ↑ https://www.ft.com/content/402f3e3a-9f3c-11e5-beba-5e33e2b79e46}
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