FRANKFURT, Nov 2 (Reuters) - Position: European Central Bank President
Incumbent: Mario Draghi
Date of Birth: Sept. 3, 1947
Term: Nov. 1, 2011 to Oct. 31, 2019. Not eligible for reappointment.
— Draghi came to the ECB with a wealth of central banking experience but as something of an unknown quantity in policy terms, and he is viewed by his ECB colleagues as difficult to pigeon-hole along the traditional hawk-dove divide.
— He joined the ECB’s 23-member rate-setting Governing Council in December 2005, when he became head of Italy’s central bank.
— Draghi was appointed chairman of the Financial Stability Forum in 2006. Now called the Financial Stability Board, the body was tasked by the G20 group of leading nations with developing a new financial framework designed to prevent future financial crises. The body’s profile has risen under Draghi’s leadership.
— Draghi is a fluent English speaker and an effective and direct communicator, but he keeps a low public profile, largely sticking to set speeches.
— Central bank insiders who have worked with Draghi say he is less of a micro-manager than his ECB predecessor Jean-Claude Trichet.
— Draghi left his London-based job as managing director and vice president of investment bank Goldman Sachs in 2005 to take over at the Bank of Italy from Antonio Fazio, who resigned in a corruption scandal.
— While his international reputation has grown steadily, Draghi has had strained relations with some of Italy’s political elite, including Economy Minister Giulio Tremonti, who has often attacked central bankers as a class and dismisses the work of the FSB.
— As director general of the Italian Treasury between 1991 and 2001, Draghi spearheaded a privatization drive. In this period he played a key role in Italy’s successful bid to join the first wave of euro currency participants and headed the European Economic and Financial Committee that prepares the agenda for the monthly meetings of euro zone finance ministers.
— After graduating from Rome University in 1970, he took a PhD in economics at the Massachusetts Institute of Technology, where he studied under Nobel prize-winning economist Franco Modigliani. He worked as an economics professor at several Italian universities before joining the World Bank in Washington as an executive director in 1984.
— Draghi is married with two children.