Massimo CAPUANO

Ceo, Borsa Italiana

President and Chief Executive Officer of Borsa Italiana SpA, Italian Exchange privatised in January 1998.Within Borsa Italiana Group, he is Vice Chairman of
the CC&G (Cassa di Compensazione e Garanzia - Italian Central
Counterparty) and Vice Chairman of Monte Titoli (CSD), as well as Chairman
of BIt Systems, the ICT market service company. As from January 2004, he is
President of the Federation of European Securities Exchanges (FESE) based in
Brussels. Previously he has been working as senior partner in McKinsey (1986-
97), mainly operating in the European financial institution and Information
Technology company sectors. He was leader of the Milan office and member
of the European banking industry group. In IBM (1980-86), he was Information
Technology systems and marketing engineer for product lay-out, application
and sale to the large financial, banking and insurance institutions. In Rank
Xerox (1979-1980), he was head of After Sales Service Dept. in Southern Italy.
Massimo Capuano, 50 years old, is married, has two daughters, and
graduated in electrical engineering at the Rome University summa cum laude.