-Bank of Italy governor proposes new head of central bank.
Global Banking News - 30 June 2011
Bank of Italy governor Mario Draghi has informed Italy's Prime Minister, Silvio Berlusconi, that Fabrizio Saccomanni would be his favoured candidate to assume the role of new head of Italian Central Bank when he steps down, Dow Jones has reported, citing reports by Italian media.
Draghi, who will resign by November 1 to assume a role as president of the European Central Bank, has suggested Bank of Italy director general, Saccomanni, as the new governor of the Italian regulator, the report said.
However, the Italian administration earlier suggested that Treasury official Vittorio Grilli, who helped to design the euro zone's bailout fund, known as the European Financial Stability Facility, could be a likely candidate for the Bank of Italy lead role.
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