Piero Cipollone took office as a member of the European Central Bank’s six-member executive board on November 1.

He succeeds Fabio Panetta, who resigned from the ECB board to become governor of the Bank of Italy. President Sergio Mattarella appointed him in July, and Panetta also began his new position on November 1. He succeeded Ignazio Visco, who had served as governor since 2011.

The Council of the EU recommended Cipollone’s appointment in September. The European Council formally appointed