Born in Salerno on August 6th, 1952. Immediately after graduation he has a work experience at Arthur Andersen Company (Rome). Completed the training period in the Department of Economics at Yale University, in 1977 he is hired by the Bank of Italy: assigned to the Research Department, he becomes responsible of the Office of Financial Markets in 1986. In these years, he takes part in the works of the Group in financial statistics at OECD (1978-79) and the working Group on money and banking statistics at the EEC (1979-80); he provides for the stock index rebuilding of the Bank; he contributes to the development of a new methodology for calculating the yields of Government bonds, in particular CCTs; he contributes to the studies for the reform of the stock market structure. In the academic field, as an adjunct professor, he teaches securities market economics at the LUISS of Rome (since 1985). He leaves the Bank of Italy in 1989 to assume, at the Istituto Mobiliare Italiano (IMI), the responsibility of the Research Dpt. and then the Financial Risk Analysis Dpt.; from 1999 to 2006 he is Head of Financial Analysis Development Unit of Sanpaolo IMI Group and then an executive director at Intesa Sanpaolo (2006-08). He is a member of the Boards of Imigest (1990-96), Fideuram Capital (1999-2003), Sanpaolo IMI Asset Management SGR (2001-04) and Fideuram Investimenti (2003-06). He continues the academic activities at the LUISS University, where is also a member of the Scientific Committees at the Mario Arcelli Center of Monetary Studies (1990-2004), and at the University of Rome “Tor Vergata”, where he teaches Money and Financial Markets Economics (1997-2000). He assumes other assignments: Member of the Board of CENSIS (1990-96), member of the Working Group on Public Fares as an expert, appointed by the Minister of the Budget and Economic Planning (1995). After leaving the Intesa Sanpaolo Group, he intensifies his academic activities at LUISS where he teaches courses on “Financial and Credit Derivatives”, “Financial Markets and Institutions”, “Risk Management”, “Algorithmic Trading”. He selects and prepares teams for the Rotman International Trading Competition (2010-21), where LUISS has won two golden, two silver and two bronze medals. Associate Editor of the Journal of Banking and Finance (1995-2002), he is the author of many essays on financial market issues, among which: The Italian Stock Market: Efficiency and Calendar Anomalies (Journal of Banking and Finance, n. 2/3, 1990); Term Structure Estimation Using the Cox, Ingersoll, and Ross Model: the Case of Italian Treasury Bonds, with D. Cuoco and E. Zautzik (The Journal of Fixed Income, n. 3, 1991); Futures-style Options on Euro-deposit Futures: Nihil sub Sole Novi?, with L. Mengoni (European Financial Management, n. 1, 1997); A Unified VAR Approach (in Asset & Liability Management: A Synthesis of New Methodologies, 1998); Securities Market Economics (in Italian), Vol. 1: Stocks and Bonds, Vol. 2: Derivatives and Risk Management (2004). He is Stephen A. Ross Professor of Financial Economics in the Department of Economics and Finance, Intesa Sanpaolo Chair. In 1979, he got married to Elisabetta Laurenti. They have a son (Luca, born in 1981) and a daughter (Gaia, born in 1983).