Vittorio Grilli
{{Short description|Italian economist, academic and politician (born 1957)}}
{{Use dmy dates|date=January 2023}}
{{Infobox officeholder
|image = Vittorio Grilli World Economic Forum 2013.jpg
|caption = Grilli during the WEF 2013
|office = Minister of Economy and Finance
|primeminister = Mario Monti
|term_start = 11 July 2012
|term_end = 28 April 2013
|predecessor = Mario Monti
|successor = Fabrizio Saccomanni
|birth_date = {{birth date and age|1957|5|19|df=y}}
|birth_place = Milan, Italy
|death_date =
|death_place =
|party = Independent
|alma_mater = {{ubl|Bocconi University |University of Rochester}}
}}
Vittorio Grilli (born 19 May 1957) is an Italian economist and academic. He was Italy's minister of economy and finance from 2012 to 2013 as part of the Monti cabinet.
Education
Grilli was born in Milan on 19 May 1957. He graduated from Bocconi University in Milan in 1981 with a master of arts degree in economics.{{cite web|title=Vittorio Grilli, Governor for Italy|url=http://www.eib.org/about/news/vittorio-grilli-new-governor-for-italy.htm|publisher=European Investment Bank|access-date=4 September 2012|date=17 July 2012}}{{Cite news|date=11 July 2012|title=Monti lascia l'interim all'EconomiaVittorio Grilli è il nuovo ministro|access-date=19 October 2022|newspaper=la Repubblica
|url=https://www.repubblica.it/economia/2012/07/11/news/monti_lasci_l_interim_all_economia_vittorio_grilli_sar_il_nuovo_ministro-38882694/ |language=it}} He received a PhD in economics from the University of Rochester in 1986.{{cite web|title=Rochester Review
|work=University of Rochester|url=http://www.rochester.edu/pr/Review/V75N1/0502_news.html|access-date=16 September 2012}}
Career
Grilli was an assistant professor of economics at the Department of Economics of Yale University from 1986 to 1990. Then he joined the University of London's Birkbeck College as Woolwich Professor of financial economics from 1990 to 1994. He served as head of the department of economics and financial analysis and privatizations at the ministry of treasury, budget and financial programming from 1994 to 2000.{{cite news|title=Italy names new finance minister to replace Monti|url=http://www.europost.bg/article?id=5109|access-date=9 September 2012|work=Europost|date=13 July 2012}} Then he became managing director and head of the Italian investment banking Credit Suisse First Boston in London in 2001 and was in office until 2002.{{cite news|title=Italy Minister Chasing Evaders Shows Home Value below Market|work=Bloomberg|url=https://www.bloomberg.com/news/2012-12-19/italy-minister-chasing-tax-evaders-shows-home-value-below-market.html|access-date=22 December 2012|date=20 December 2012|author=Lorenzo Totaro|author2=Vernon Silver}} Next, he was appointed general accountant of the Italian State in 2002, and his tenure lasted until 2005. He was named as the director general of the Italian treasury in 2005 where he served until 2011. He held the position of sole commissioner of the Italian Institute of Technology foundation and then became its president in the following period.{{Cite web|title=OECD Ministerial Council Meeting 2012|website=www.oecd.org |url=https://www.oecd.org/mcm/50442616.pdf|access-date=13 May 2022}} He was made vice-president of the economic and financial committee (EFC) of the European Union in March 2009 and in March 2011, he was chosen to chair the EFC.{{cite web|url=http://www.europeanvoice.com/article/imported/banking-on-italians-/70514.aspx|title=Italians are taking over the running of the eurozone|work=European Voices|access-date=14 September 2012|date=10 March 2011}} Grilli's tenure lasted until January 2012, and he was replaced by Thomas Wieser in the post.{{cite web|publisher=EFC|access-date=14 September 2012|title=President|archive-date=19 October 2012|url-status=dead|df=dmy-all|url=http://europa.eu/efc/president/index_en.htm|archive-url=https://web.archive.org/web/20121019190711/http://europa.eu/efc/president/index_en.htm}} In September–October 2011, following the appointment of Mario Draghi as president of the European Central Bank, he was one of the possible candidates for the position of governor of the Bank of Italy, but the position went to Ignazio Visco.{{Cite web|title=Bossi spinge Grilli, Pdl contrario|url=http://www.ilsole24ore.com/art/notizie/2011-09-29/bossi-spinge-grilli-contrario-063634.shtml?uuid=Aam45Q8D|access-date=13 May 2022|work=Il Sole 24 ORE|language=it}}
Grilli was appointed deputy minister of economy and finances in November 2011,{{cite news|title=Monti Cabinet Approves Grilli as Deputy Finance Chief, ANSA Says|url=http://www.businessweek.com/news/2011-11-28/monti-cabinet-approves-grilli-as-deputy-finance-chief-ansa-says.html|archive-url=https://web.archive.org/web/20111230043437/http://www.businessweek.com/news/2011-11-28/monti-cabinet-approves-grilli-as-deputy-finance-chief-ansa-says.html|url-status=dead|archive-date=30 December 2011|access-date=9 September 2012|work=Bloomberg|date=28 November 2011|agency=ANSA}} and served in this post until 11 July 2012 prior to his appointment as minister.{{cite web|title=Vittorio Grilli|url=http://www.bruegel.org/about/person/view/207-vittorio-grilli/
|publisher=Bruegel|access-date=4 September 2012|archive-url=https://web.archive.org/web/20120406125529/http://www.bruegel.org/about/person/view/207-vittorio-grilli/|archive-date=6 April 2012|url-status=dead|df=dmy-all}} Grilli swore the next day and the Presidency of the Council announced that he would be permanently invited to attend meetings of the Council of Ministers.{{Cite web |date=29 November 2011|title=Monti: "Nessun conflitto di interessila mia squadra è al servizio del Paese"|url=https://www.repubblica.it/politica/2011/11/29/news/monti_nessun_conflitto_di_interessi_mia_squadra_forte_e_snella-25771617/|access-date=17 May 2022|work=La Repubblica|language=it}} Grilli also worked as an advisor to private companies including Enel and Alitalia.{{cite news|title=Vittorio Grilli to replace Mario Monti as Italian Finance Minister|url=http://www.rte.ie/news/2012/0711/grilli-to-replace-monti-as-finance-minister-business.html|access-date=8 September 2012|work=RET News|date=11 July 2012}} He is a member of the European think tank organization Bruegel and of the Aspen Institute Italia.
On 12 May 2014 Grilli became president at Corporate and Investment Bank for Europe, Middle East and Africa for JPMorgan.{{Cite web|date=12 May 2014|title=Vittorio Grilli nominato presidente Corporate Investment Banking Emea di JP Morgan |url=https://www.finanzaonline.com/notizie/vittorio-grilli-nominato-presidente-corporate-investment-banking-emea-di-jp-morgan-223602/|access-date=25 May 2022|publisher=FinanzaOnline|language=it}} He is also a member of the European Group at Trilateral Commission.{{Cite web |title=The Trilateral Commission Membership 2022 |url=https://www.trilateral.org/wp-content/uploads/2022/06/TC-MEMBERSHIP-LIST-June-2022-1.pdf |access-date=2022-12-14 |website=www.trilateral.org|df=dmy-all}}
=Minister of Economy and Finances=
Grilli replaced Mario Monti as minister of economy and finances on 11 July 2012.{{cite news
|title=Vittorio Grilli to replace Mario Monti as Italy's new finance minister: Government|work=The Economic Times
|url=http://economictimes.indiatimes.com/news/international-business/vittorio-grilli-to-replace-mario-monti-as-italys-new-finance-minister-government/articleshow/14823570.cms|access-date=4 September 2012|date=11 July 2012
|location=Rome}}{{cite news|title=Vittorio Grilli appointed Italy's new Finance Minister
|url=http://www.fxstreet.com/news/forex-news/article.aspx?storyid=e0612527-e508-4444-be06-b95ec6aa3723|access-date=5 September 2012|work=FX Street|date=11 July 2012|location=Barcelona}} Grilli was also a member of the economic and financial policy coordinating committee established in July 2012 of which other members were Monti, Ignazio Visco, the governor of the Bank of Italy, and Corrado Passera, economic development minister.{{cite news|title=Vittorio Grilli named Italian Economy Minister|url=http://en.europeonline-magazine.eu/vittorio-grilli-named-italian-economy-minister_222493.html|access-date=5 September 2012|work=Europe Online Magazine|date=11 July 2012}} The committee was chaired by Monti.{{cite news|author=Stephen Castle|title=Better News in Europe Fails to Lift Markets|work=The New York Times|date=13 July 2012
|url=https://www.nytimes.com/2012/07/13/business/global/daily-euro-zone-watch.html}}
On 9 September 2012, Grilli announced that Italy's current financial status was not required to apply for the new euro-zone aid program.{{cite news|author=Christopher Emsden|title=Monti Says Italy Seeks Stability|url=https://www.wsj.com/articles/SB10000872396390444100404577641740987891560|access-date=10 September 2012
|newspaper=The Wall Street Journal|date=9 September 2012|agency=Cernobbio}} In December 2012, he reported that he did not have any plan to work in a government post or a treasury position after the 2013 February general election in Italy. Grilli's term as economy minister ended in April 2013, and Fabrizio Saccomanni succeeded him in the post.{{cite news|title=Italy's new cabinet lineup
|url=http://news.xinhuanet.com/english/world/2013-04/28/c_132347926.htm|archive-url=https://web.archive.org/web/20130502192426/http://news.xinhuanet.com/english/world/2013-04/28/c_132347926.htm|url-status=dead|archive-date=2 May 2013|access-date=29 April 2013|work=Xinhua|date=28 April 2013|location=Rome}}{{cite news|title=Italian cabinet comes together|work=Euronews|url=http://www.euronews.com/2013/04/28/italian-cabinet-comes-together/|access-date=7 September 2013|date=28 April 2013}}
Other activities
Grilli has been a member of the European Group of the Trilateral Commission since June 2022.{{cite web|title=European Membership |url=https://www.trilateral.org/wp-content/uploads/2022/06/EUROPEAN-MEMBERSHIP-LIST-2022-MASTER-June-2022.pdf|website=trilateral.org|access-date=20 July 2023}}
Recognition
Grilli was awarded the Gold Medal of Bocconi University (1981), the Saint Vincent Prize for Economics (1992), the Tarantelli Prize for the best economic idea (2004), the 2005 Bocconi Prize, and the Guido Carli Prize for the best new financial initiative - Fund for SMEs (2010). In 2011, he was also awarded Grand Cross Knight (Cavaliere di Gran Croce).{{cite web|title=Minister|publisher=Ministry of Economy and Finances|url=http://www.mef.gov.it/en/ministero/ministro.asp?vUltW3C=1|access-date=5 September 2012}}
Personal life
Grilli's first spouse, Lisa Lowestein, is an art expert.{{cite news|author=Luigi Zingales|title=The Need for Transparency|url=http://www.ilsole24ore.com/art/english-version/2012-10-02/need-transparency-043757.shtml?uuid=AbgIJwmG|access-date=27 April 2013|newspaper=Il Sole 24 Ore|date=2 October 2012}} It was rumoured that she was hired by the Finmeccanica group as a consultant in September 2012. However, the firm denied the reports.
References
{{Reflist|colwidth=33em}}
External links
- {{Commons-inline}}
{{s-start}}
{{s-off}}
{{s-bef|before=Mario Monti}}
{{s-ttl|title=Minister of Economy and Finances|years=2012–2013}}
{{s-aft|after=Fabrizio Saccomanni}}
{{s-end}}
{{Monti Cabinet}}
{{Authority control}}
{{DEFAULTSORT:Grilli, Vittorio}}
Category:20th-century Italian economists
Category:21st-century Italian politicians
Category:21st-century Italian economists
Category:Academics of Birkbeck, University of London
Category:Bocconi University alumni
Category:Ministers of finance of Italy
Category:Independent politicians in Italy
Category:University of Rochester alumni