Andrea Sironi

Born May 13th, 1964. Degree in Economics from Università Bocconi.

Andrea Sironi is Vice President and a Professor of Banking and Finance at Bocconi University in Milan, where he has been Rector from 2012 to 2016. Since January 2016, he is Chairman of Borsa Italiana SpA and, since October 2016, a member of the Board of Directors of the London Stock Exchange Group.
Professor Sironi has been Chairman of CEMS – The Global Alliance in Management Education - from 2014 to 2016. He has held visiting positions at the Research and Statistics Division of the Federal Reserve Board of Governors in Washington, at the Salomon Brothers Center, Stern School of Business (NYU), New York, and at Sciences Po, Paris. He has been a member of the Board of Directors of Unicredit Group. At the beginning of his career, he has been a financial analyst at The Chase Manhattan Bank in London. Professor Sironi research interests include Financial Risk Management and International Banking Supervision. He has published and edited many books and papers in international refereed journals on these subjects. Professor Sironi has also served as a consultant and board member for a number of major national and international financial institutions. In 2013 he has been a member of the Group of experts for the valuation of Bank of Italy equity capital. Until March 2019, he has been a member of the board of directors of Unicredit Group. Professor Sironi is currently also a member of the Board of Directors of ISPI (Italian Institute for International Politics), of IntesaSanPaolo Group, of the Italian Foundation for Cancer Research (AIRC) and of EASL International Liver Foundation (Geneva), of the International Advisory Council of Stockholm School of Economics, of the International Advisory Board of Nova School of Business and Economics (Lisbon), and of the Advisory Board of Cometa, a non profit organization assisting children in need.

Professor Sironi research interests include financial risk management and international banking regulation and supervision. He has published and edited many books and articles in international refereed journals on these subjects. Professor Sironi is married and has three children.

Research Areas

Risk Management And Capital Allocation In Banks. International Financial Markets. Financial Risk Management. International Banking Regulation And Supervision.

Publications

Books

• Risk Management and Shareholders Value in Banking, John Wiley, with Andrea Resti, 2007
• Recovery Risk: The next challenge in credit risk management, edited by Edward Altman, Andrea Resti and Andrea Sironi, Risk Books, 2005
• Estimating a Bank’s Cost of Equity Capital: A Key Issue in Performance Measurement, in Giacomo de Laurentis and Pierluigi Fabrizi, edited by, Performance Evalution in Banking, forthcoming, Egea, 2004
• Loss Given Default and Recovery Risk: From Basel II Standards to Effective Risk Management Tools, with Andrea Resti, in Michael K. Ong, The Basel Handbook, a Guide for Financial Practitioners, Risk Books, 2003
  

Articles in International Journals

• “The Impact of Government Ownership on Bank Risk”, with Giuliano Iannotta and Giacomo Nocera, Journal of Financial Intermediation, 22, 2013, 152-176
• Resti A. and A. Sironi, “What''s different about loans? An analysis of the risk structure of credit spreads”, International Journal of Banking Accounting and Finance, 2009, V.2, N. 2
• “Ownership Structure, Risk and Performance in the European Banking Industry”, with Giacomo Nocera and Giuliano Iannotta, Journal of Banking and Finance, 31, n. 7, pp. 2127–2149, 2007
• “Ownership Structure, Risk and Performance in the European Banking Industry”, with Giacomo Nocera and Giuliano Iannotta, 2007, Journal of Banking and Finance
• “The Link between Default and Recovery Rates: Theory, Empirical Evidence and Implications”, with Edward Altman, Brooks Brady and Andrea Resti, The Journal of Business, Vol. 78, November, pp. 2203-2228, 2005
• Default and Recovery Rates in Credit Risk Modeling: A Review of the Literature and Empirical Evidence”, with Edward Altman and Andrea Resti, Journal of Finance Literature, Volume 1, Winter 2005
• “Which Factors Affect Corporate Bonds Pricing: Empirical Evidence from Eurobonds Primary Market Spreads”, with Giampaolo Gabbi, The European Journal of Finance, February 2005, v. 11, 1, pp. 59-74
• “Default and Recovery Rates in Credit Risk Modeling: A Review of the Literature and Empirical Evidence”, with Edward Altman and Andrea Resti, n. 2, 2004, Economic Notes
• “Applying Credit Risk Models to Deposit Insurance Pricing: Empirical Evidence from the Italian Banking System”, Journal of International Banking Regulation, V. 6, N. 1, 10-32, 2004
• “Testing for Market Discipline in the European Banking Industry: Evidence from Subordinated Debt Issues”, Journal of Money, Credit and Banking, Vol. 35, June 2003, 443-472
• “The New Basel Accord: Implications for Italian Banks”, with Cristiano Zazzara, Review of Financial Economics, vol 12/1 pp. 99–126, 2003
• “Strengthening Banks’ Market Discipline and Leveling the Playing Field: Are the Two Compatible?”, Journal of Banking and Finance, vol 26/5, 1065-1092, May 2002
• “An Analysis of European Banks Subordinated Debt Issues and Its Implications for a Mandatory Subordinated Debt Policy”, Journal of Financial Services Research, Vol. 20, No. 2/3, October 2001, 233-266
  

Other Articles

• “Financial Structure, Cost of Capital and Shareholders’ Value Creation in Banking”, Economia & Management, 6/2001
• “The Reform of the Capital Requirements: a Critical Evaluation and Some Proposals ”, Bancaria, n. 10, 1999
• “From risk management to capital allocation in banking”, with Francesco Saita, Bancaria, n. 5, May 1998, pp. 64-81
• “Capital Ratios and Banks Strategies: from asset growth to shareholders’ value creation”, Economia & Management, July 1992, pp. 8-26