Italian financial regulator CONSOB has announced that its offices in both Rome and Milan will be shut this week, after CONSOB President Paolo Savona tested positive for COVID-19.

CONSOB said that Mr. Savona is an asymptomatic carrier. The regulator said that he is in quarantine, and working from home.

CONSOB’s offices in Rome and Milan will be shut from tomorrow, Monday September 14, through to and including Friday the 18th, in what the regulator said was a “precautionary measure”.

During closure, sanitation operations will be carried out in the regulator’s offices in accordance with current health regulations in Italy. CONSOB stated that its full operations will continue next week with employees working remotely.

The 83 year old Mr. Savona was named President of CONSOB for a seven year term in 2019. Prior to joining CONSOB he was Italian Minister of European Affairs from 2018-2019. He had also served as Italy’s Minister of Industry, Commerce and Craftmanship in the mid 1990s. Over his 60 year career the trained economist has served in a variety of senior management and board roles at leading financial institutions in Italy, as well as a number of senior academic positions.