Former Italian Minister of Economy and Finance
Tommaso Padoa-Schioppa will succeed Gerrit Zalm as chairman of the
International Accounting Standards Committee Foundation (IASC) next

Padoa-Schioppa previously spent a brief
stint as IASC chairman in 2006, standing down when he was appointed
Italy’s Minister of Economy and Finance.

Padoa-Schioppa is a banker and economist by
trade. He is currently president of Notre Europe, a Paris-based
think tank that aims to ‘think a united Europe’, and chairman of
Promontory Europe, a financial services consultancy group.

Padoa-Schioppa previously served as chairman
of the Ministerial Committee of the International Monetary Fund, a
member of the European Central Bank executive board, chairman of
the Italian Securities and Exchange Commission and deputy
director general of Italy’s central bank

Zalm has led the IASC for two-and-a-half
years. His term was due to expire this year.