Following the recent resignation of the government, a new cabinet was sworn in on 22 February 2014 and Mr Pier Carlo Padoan has been appointed Minister of Economy and Finance. He also becomes EIB Governor for the Italian Republic, succeeding Mr Fabrizio Saccomanni.

Prior to his appointment as Minister in the new cabinet, Mr Padoan was Chief Economist of the OECD since 1 December 2009. He was also Deputy Secretary-General of that institution since 2007.

Previously, he was Professor of Economics at the University La Sapienza of Rome, and Director of the Fondazione Italianieuropei, a policy think-tank focusing on economic and social issues.

From 2001 to 2005, Mr Padoan was the Italian Executive Director at the International Monetary Fund.

From 1998 to 2001, he served as Economic Adviser to the Italian Prime Ministers, Massimo D’Alema and Giuliano Amato, in charge of international economic policies.

Mr Padoan has a degree in Economics from Rome University and has held various academic positions in Italian and foreign universities, including Rome University, College of Europe (Bruges and Warsaw), Université Libre de Bruxelles, Universidad de la Plata and Tokyo University.

Mr Padoan was born in 1950 in Rome.