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Vatican bank board begins search for new president

June 27, 2012

The board of the Vatican bank, the Institute for Religious Works (IOR), met in Rome on June 27 to begin the search for a new chief executive.

The board--which had dismissed the IOR’s president, Ettore Gotti Tedeschi, last month—later met with the committee of cardinals that supervises the institution. The Vatican said that the meetings were “very useful for sharing information and proposals both regarding day-to-day management as well as the universal criteria of professionalism and experience that are called for” in a candidate to become the new IOR president. The statement added that Pope Benedict XVI is “closely following the situation” and has been briefed by the Secretary of State, Cardinal Tarcisio Bertone, who chairs the committee of cardinals.

The board members of the IOR are Carl Anderson, the head of the Knights of Columbus; Manuel Soto Serrano of the Santander bank; Ronaldo Hermann Schmitz, a retired executive of Deutsche Bank; and Antonio Maria Marocco, an Italian notary.


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