He was born in Gubbio on 10 July 1958, is married to Antonella and has three children, Francesca, Giorgio and Marco.

He graduated with honours in Economics from the Faculty of Economics and Banking at the Università di Siena in 1982 and wrote his thesis on the theory of money in the 1930s.

He joined the Bank of Italy at the end of 1982 and worked in the Foreign Relations Department in the Foreign Exchange Dealing Room, where he carried out trading activities and currency operations on behalf of the Bank.

He was appointed Deputy Head of this Department in 1986. In 1990 he became Deputy Head of the Exchange and Foreign Reserves Division of the Monetary Policy and Foreign Exchange Department. He was a member of the internal committee for the introduction of the euro and in 1999 was appointed Head of the Official Foreign Reserves Management Division of the Monetary Policy and Exchange Department.

From 2008 he was Deputy Head of the Financial Investment Directorate, responsible for the Bank of Italy’s investments in foreign currencies, euros and gold. From 1998 to 2006 he was a member of the ECB Working Group on foreign currency reserves. He has been on the ECB’s market Operations Committee since 2012.

He has been Head of Financial Risk Management since February 2017.