Lorenzo Bini Smaghi

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Lorenzo Bini Smaghi
Cv binismaghi 2007.jpg
Occupation ECB Executive Board Member
Employer Harvard University

Lorenzo Bini Smaghi is a member of the executive board and governing council of the European Central Bank (ECB). On Nov. 10, 2011, he announced that he would resign from the ECB’s executive board at the end of the year and join Harvard University’s Center for International Affairs on Jan. 1, 2012.

Bini Smaghi's term on the ECB board would have officially ended in May 2013. Bini Smaghi had been a member of the executive board and governing council since June 1, 2005.[1]

Italy’s Prime Minister Silvio Berlusconi had stepped up pressure on Bini Smaghi to quit in recent weeks in an attempt to defuse a row with French President Nicolas Sarkozy over the Italian’s seat on the ECB’s Executive Board. Sarkozy had backed Mario Draghi’s candidacy to head the central bank on the condition that Berlusconi get Bini Smaghi to step aside to make way for a French candidate and avoid leaving the board with two Italians when Frenchman Jean-Claude Trichet finishes his term.[2]

Bini Smaghi is also president of the Fondazione Palazzo Strozzi, a mixed private-public institution that promotes cultural initiatives in Florence. He is the author of various articles and books on international and European monetary and financial issues.


Before joining the ECB, Bini Smaghi was Director General for International Financial Relations of the Italian Ministry of Economy and Finance.

His earlier appointments included Deputy Director-General Research of the ECB, Head of the Policy Division of the European Monetary Institute (Frankfurt) — and Head of the Exchange Rate and International Trade Division of the Research Department of Banca d’Italia (Rome).[3]


Bini Smaghi earned a MA in Economics from the University of Southern California and a PhD in Economics from the University of Chicago.