Vatican Opens Search for New Bank President

VATICAN CITY, JUNE 27, 2012 ( The board of the Vatican bank IOR (Institute for Works of Religion) met today to discuss a replacement for the former head, Ettore Gotti Tedeschi, who was fired recently.

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Among the board members are Vice President Dr. Ronaldo Hermann Schmitz, a former executive of the German Deutsche Bank,  Dr. Carl Albert Anderson, head of the Knights of Columbus, Dr. Antonio Maria Marocco, an Italian notary, and Dr. Manuel Soto Serrano of Spain’s Banco Santander.

After the meeting the Board reported to the Commission of Cardinals, presided over by Secretary of State Cardinal Tarcisio Bertone.

“These two 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 light of the choice of a new president for the Board of Superintendence,” said a Vatican statement issued after the meeting.

“Pope Benedict XVI is closely following the situation of the Institute for Works of Religion and is being constantly briefed by the Cardinal Secretary of State,” the statement noted.

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