Click here to advertise on CatholicCulture.org

Vatican bank names new acting officials

Catholic World News - July 02, 2013

The Vatican bank has named new officers to replace the director and deputy-director who resigned on July 1.

Ernst von Freyburg, the president of the Institute for Religious Works (IOR), will act temporarily in the role of director for the bank. Rolando Marranci, who has been chief operating officer for an Italian bank in London, has been named acting deputy director. Antonio Montaresi, whose experience has been as a risk and compliance officer with American banks, will act as chief risk officer for the IOR.

The IOR’s president defended the institution, while acknowledging the need for continued work to repair the bank’s reputation. “Since 2010 the IOR and its management have been working hard to bring structures and processes in line with international standards for anti-money laundering,” said von Freyburg. “While we are grateful for what has been achieved, it is clear today that we need new leadership to increase the pace of this transformation process.”

In recent weeks von Freyburg has brought in top executives from the firm Promontory Europe to provide the IOR with advice on strengthening safeguards against money-laundering.

In related news:

Additional sources for this story
Some links will take you to other sites, in a new window.

An appeal from our founder, Dr. Jeffrey Mirus:

Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach seven million Truth-seeking readers worldwide this year. Thank you!

Progress toward our August expenses ($15,935 to go):
$35,000.00 $19,064.98
46% 54%
Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!

There are no comments yet for this item.

Subscribe for free
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

The rising, dangerous influence of 'transgender' ideology 15 hours ago
Does the EU flag evoke the patronage of the Virgin Mary? 16 hours ago
The diocese as corporate sponsor 23 hours ago
Lectures on Art and Faith in NYC August 26
Black Mass Thwarted in Oklahoma City August 26

Top Catholic News

Most Important Stories of the Last 30 Days
‘A real via crucis’: Pope Francis, patriarch plead on behalf of Iraq’s Christians CWN - August 8
Hundreds of thousands of Iraqi Christians in flight as Islamic State advances CWN - August 8