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Philadelphia, Pa. - The Consul General of Italy recently presented the prestigious Italian recognition of “Cavaliere, ”an honorary knighthood, to Dr. Anthony M. Santomero, president of the Federal Reserve Bank of Philadelphia, and to Mr. C.R. “Chuck” Pennoni, chairman and founder of Pennoni Associates Inc.
This civic honor is bestowed by the president of the Italian Republic. “These two extraordinary members of the Italian-American community have dedicated themselves to encouraging knowledge and interest in Italian matters and affairs in connection with their educational, financial, and commercial projects,” said Consul General of Italy Dr. Stefano Mistretta during the May 27 ceremony.
The origins of Cavaliere date back to the Roman Empire, which awarded the honor to citizens for their outstanding military or civil service. Today, the title of Cavaliere is a civic recognition, and candidates are selected based on their integrity and accomplishments, as well as their dedication to strengthening ties between Italy and America.
In his role as Federal Reserve Bank president, Dr. Santomero is currently a voting member of the Federal Open Market Committee, which conducts the nation’s monetary policy.
Before joining the Philadelphia Federal Reserve, Dr. Santomero was the Richard K. Mellon Professor of Finance at the University of Pennsylvania's Wharton School where he held a number of academic and managerial positions during his 30-year tenure. While there, he established a reputation as a recognized consultant to major financial institutions and regulatory agencies throughout North America, Europe, and the Far East , including the European Economic Community in Brussels, the Inter-American Development Bank, and the Ministry of Finance of Japan.
He has participated in educational programs and research at the Italian Bankers Association and the University of Rome at Tor Vergata, which awarded him an honorary degree in 2003.
Active in the local and national community, Dr. Santomero is on the board of directors of the Greater Philadelphia Chamber of Commerce and the board of the Mann Center for the Performing Arts. He also serves on the Governor’s Task Force for Working Families and is a member of the National Smart Growth Council.
He received an A.B. in economics from Fordham University in 1968 and a Ph.D. in economics from Brown University in 1971. He also holds an honorary doctorate from the Stockholm School of Economics in Sweden, received in 1992.
Mr. Pennoni, a licensed engineer in 11 states, founded Pennoni Associates Inc. in 1966. Pennoni Associates is a multi-disciplined consulting engineer firm employing a staff of more than 600, with offices in Pennsylvania, New Jersey, Delaware, Massachusetts, New Hampshire, Tennessee, and Maryland.
During his career, Mr. Pennoni has taught engineering courses at Temple University and has written extensively on engineering, planning, ethics, and professional development. In 2000, he was inducted into the National Academy of Engineering.
He has served the engineering community as president of the American Society of Civil Engineers (ASCE); a trustee and president of United Engineering Trustees, Inc. (UET); president of the Accreditation Board for Engineering and Technology (ABET), and as a member of the United States Council for International Engineering Practice (USCIEP). In addition, he has served on the Engineering Advisory Boards of Widener University, the University of Pennsylvania, and Drexel University and is a trustee and past chairman of the board of Drexel University, where he served as president and CEO for the 1994-95 academic year.
Board memberships also include Parke Bank; GCA Services, Inc.; the Board of Governors of the State System of Higher Education in Pennsylvania; the World Trade Center of Greater Philadelphia; and the Penjerdel Council. Currently, he is president of the American Society of Civil Engineers Foundation.
His involvement in the Italian community includes membership in the National Italian American Foundation and the Greater Philadelphia Chapter UNICO National. He is also an honorary citizen of Commune DiGualdo Tadino, Provincia di Perugia, Italy; a life member of Sons of Italy, Brigantine Lodge #2520; and a member-at-large of the Order Sons of Italy in America, Grand Lodge of Pennsylvania.
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank holding companies, and provides financial services to depository institutions and the federal government. The Philadelphia Fed serves the Third District, which is composed of eastern Pennsylvania, southern New Jersey, and Delaware.