The EU-27 choose Italian Comporti to head ESMA; Giorgetti: “A tribute to the individual and to Italy”

Brussels – At today’s (22 July) meeting of Coreper (the Committee of Permanent Representatives), the 27 ambassadors of the European Union member states selected the Italian Carlo Comporti, currently a member of the ESMA board, as their candidate for the presidency of the European Securities and Markets Authority (ESMA). The vote was held by secret ballot, and Comporti secured 17 votes to 10. The process does not end here, however: the Chair of Coreper will now inform the European Parliament of the choice, and the Parliament will be called upon to approve the appointment. According to some sources in the European Parliament, the public hearing with the selected candidate could take place on 2 September, followed by a vote in plenary between 14 and 17 September. Once the plenary has given its approval, the matter will return to the Member States, as the Council of the EU will adopt an implementing decision appointing the new President. The entire procedure is expected to be concluded by 1 November. 

The Minister for the Economy and Finance, Giancarlo Giorgetti, expressed immediate satisfaction. “Best wishes and congratulations to Carlo Comporti on his appointment as head of ESMA. Although the process is not yet complete, today’s decisive vote is a recognition of both the individual and Italy. ESMA, in fact, plays a strategic role and is set to develop in future as the European equivalent of Consob,” commented the minister. “I am pleased with today’s result, which is the outcome of the working method we have adopted since the start of this parliamentary term and confirms the renewed credibility of our country and the government in Europe,” emphasised Giorgetti. 

The PD has also given the green light to Comporti’s nomination, with MEP Irene Tinagli expressing “satisfaction with the choice” because “as Consob commissioner, Comporti has been able to demonstrate his full calibre and expertise.” And “now the European Parliament will have to vote to confirm this choice, the result of excellent teamwork by Italy. We hope for broad support for such a high-profile figure,” she concluded. 

Member of Consob since 7 February 2022, Comporti is a member of the Supervisory Board and the Management Board, as well as chair of the Standing Committee on Digital Finance at the European Securities and Markets Authority (ESMA). He is also a member of the Board of Directors and Chair of the Audit and Finance Committee of the International Organisation of Securities Commissions (IOSCO). He graduated from the University of Siena in 1991 and went on to obtain a PhD in Banking and Financial Markets Law in 1995. From 1994 to 1997, he worked at Consob, in the Intermediaries Division in Milan and the International Relations Office in Rome, and between 1999 and 2007 he was a lecturer on a contract basis for the annual course in commercial law at the Faculty of Economics of the University of Siena.