John L. Allen,Jr.
National Catholic Reporter
July 1, 2013
In the latest sign of a shakeup at the troubled Institute for the Works of Religion, better known as the Vatican bank, a statement on Monday said the bank's leadership team has resigned in order "to increase the pace" of a "transformation" toward greater transparency and compliance with anti-money-laundering norms.
The resignations of Paolo Cipriani and Massimo Tulli, director and vice-director of the bank respectively, both laymen, are effective immediately.
The Vatican statement said Ernst von Freyberg, a German financier appointed in February by Pope Benedict XVI as bank president, will take over day-to-day operations on an interim basis, assisted by two newly appointed aides with backgrounds in secular banking.
full article at National Catholic Reporter
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