Luigi Federico Signorini, Director General of the Bank of Italy, resigned for personal reasons. The news emerged during the Friday 30 meeting of the Superior Council, which approved the appointment proposed by the Governor of the current Deputy Director General, Paolo Angelini, to replace Signorini. Angelini, 67, is a native of Siena (from the Bruco area) with a degree in economics from Siena and a Master's and Ph.D. in economics from Brown University. He joined the Bank of Italy's Research Department and then rose through the ranks of the Eurosystem, eventually becoming Head of Supervision in 2019 and joining the Board of Directors shortly after that. Angelini has been a member of the Single Supervisory Mechanism, the European Central Bank's system of prudential banking supervision in the eurozone, for nearly a year and will most likely remain so. By statute, the Director General also replaces the Governor in cases of absence or impediment.