Final openings filled on Vatican bank's board
September 16, 2014
With the appointment of two veteran finance executives, the new Board of Superintendence of the Vatican bank, the Institute for Religious Works (IOR), is now complete.
The IOR announced on September 16 that Mauricio Larrain, a Chilean director of Santander Bank; and Carlo Salvatori, the president of Lazard Italy, would take seats on the IOR’s Board of Superintendence. They join Jean-Baptiste de Franssu (the board’s president), Clemens Boersig, Mary Ann Glendon, and Sir Michael Hintze. Msgr. Alfred Xuereb is the non-voting secretary of the board.
The Board of Superintendence is responsible for setting strategy for the IOR, and supervising the bank’s operations. The entire board has been replaced this year, as the Vatican completes the transformation of the troubled bank.
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