New director-general named for Vatican bank
November 24, 2015
Pope Francis has appointed Gian Franco Mammi as director-general of the Vatican bank, the Institute for Religious Works (IOR).
The Pope paid a visit to the offices of the IOR on November 24, and announced the appointment there. Mammi has been serving as deputy director of the IOR.
The IOR has experienced a heavy turnover of executives in recent months, reflecting the drive to reform the institution, which had been heavily criticized for lax supervision of financial deals. The IOR has now embraced a new, more restricted role, serving only Church-related institutions and insisting on transparency in bank transactions.
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