United States: Eugene A. Ludwig, Chairman and Chief Executive Officer of Promontory Financial Group, issued the following statement on the death of Tommaso Padoa-Schioppa, who died in Rome at the age of 70. Mr. Padoa-Schioppa was Chairman of Promontory Europe at the time of his death.

“Tommaso Padoa-Schioppa was a renowned figure in international finance and politics, and I am honored to say he was a dear friend of mine for decades. His death is a deep loss to me personally, and will be felt by all those in the international community who shared his commitment to bringing about a more civil and decent world order.

“Tommaso was an extraordinary individual who combined brilliance, high moral values, personal warmth, modesty, and humor. His accomplishments were immense. This is a man who was Italy’s Minister of Economy and Finance, who served on the boards of the central banks of both Italy and the European Union, who was chairman of the Basel Committee on Bank Supervision, and much, much more. Tommaso was fully engaged in the most pressing issues facing the world economy until the very end.

“Tommaso’s brilliance was only a part of what made him exceptional. He was generous of heart and committed always to doing what was right. His recent work as an unpaid adviser to the government of Greece is a splendid example of how completely committed he was to sharing his exceptional gifts in finance and economics for the betterment of society.

“Our hearts go out to his family and friends at the loss of this great man.”