Raffaele has a background in capital markets, developed through his work with international banks, including Dexia-Crediop and CDC IXIS Capital Markets, and rating agencies, such as Standard & Poor’s and Fitch Ratings. His roles have spanned loan origination, bond placements, investor presentations, and credit ratings. At Fitch Ratings (2005–2024), he led teams of public finance analysts in Milan and Moscow before overseeing criteria updates, developing systems for rating operations, and coordinating research for the international public finance team, which comprised approximately 80 analysts.
Since 2025, Raffaele has focused on corporate governance and capital markets advocacy. In corporate governance, he serves as an executive committee member of Board Ahead, an Italian association of professionals promoting good governance among SMEs through publications, workshops, and board participation. In capital markets advocacy, he contributes to the EFFAS Capital Markets Commission and various working groups within AIAF, the Italian Association of Financial Analysts, fostering initiatives such as developing a pan-European bond market for SMEs. One example includes his proposal for a guarantee scheme for non-financial corporate bond issuances, modelled on the bank deposit insurance system, to strengthen confidence among SME issuers and retail investors.
Raffaele holds a diploma in Accounting (1985) and graduated in Economics and Banking from the University of Siena (1991), where he also earned a postgraduate degree in Banking and Finance (1994). He has attended numerous short courses on Accounting and Corporate Finance at the London School of Economics (1997–2005) and IASeminars (2016), and completed the Board Academy programme at Rome’s Luiss School of Management (2021).
