He then went to Rome, where he lived in the Leonine College, a residence for students from southern Italy at the Gregorian University (1910–1915), then studied at the Pontifical Roman Seminary (1915–1919).

[1] Panico then did pastoral work in his home town from 1922 to 1923, and was raised to the rank of Privy Chamberlain of His Holiness on 25 August 1923.

On 17 October 1935, Panico was appointed Apostolic Delegate to Australia and New Zealand (a post he held until 1948) and Titular Archbishop of Justiniana Prima by Pope Pius XI.

He received his consecration on the following 8 December from Cardinal Pietro Fumasoni Biondi, with Archbishops Bartolomeo Cattaneo and Domenico Spolvorini serving as co-consecrators, in Rome.

As Apostolic Delegate Panico believed that the time had arrived for the promotion of native-born priests as bishops for these countries, instead of Irish-born clergy.

Their arrival in New Zealand was dramatic as their ship, MS Wanganella, went aground on Barrett Reef at the entrance to Wellington Harbour, and they had to be rescued.

[8] On 23 June 2012, his remains were transferred to a tomb in front of the altar of St. Charles Borromeo in the main body of the church.