Born in 1896. After graduating from the Institute of Social Science "Cesare Alfieri" in Florence, in 1920 he was employed by the National Foreign Exchange Institute (INCE).

In July of the following year he joined the Bank of Italy, where he oversaw the liquidation of the Banca Italiana di Sconto. In October 1924 he was transferred to the Banca Nazionale di Credito as manager of the office in charge of liquidating the Banca di Sconto, a post he filled until 1929 when he became head of the Rome representative office.

In 1931 he was appointed Director General of the Società Finanziaria Italiana, the holding company of Gruppo Credito Italiano. He was Director of both divisions of IRI, Italy's largest stated-owned holding company, in 1933 and Director General from August 1934; he resigned in November 1943.

After the War, he became Director General of the Bank of Italy in April 1946, and in May 1947 was appointed acting Governor when Einaudi became a government minister.

He was formally nominated Governor in August 1948 and resigned in August 1960. He was named Governor Emeritus of the Bank of Italy. Died in 1984.