VATICAN CITY
Rappler
(UPDATED) Jean-Baptiste de Franssu, former chief executive of Investco Europe, will lead a newly streamlined bank following a year of internal investigations
Jean-Louis de la Vaissiere, Agence France-Presse
Jul 09, 2014
VATICAN CITY (UPDATED) – The Vatican on Wednesday, July 9, named a French businessman to head up its scandal-plagued bank as part of a radical overhaul of the Holy See’s economic framework ordered by Pope Francis.
Jean-Baptiste de Franssu, former chief executive of Investco Europe, will lead a newly streamlined bank following a year of internal investigations which resulted in the closure or suspension of thousands of suspicious, ineligible or inactive accounts.
“Our ambition is to become something of a model for financial management rather than cause for occasional scandal,” Vatican finance minister Cardinal George Pell told journalists.
Franssu himself said he was “looking forward to continuing the efforts of transparency.”
The appointment comes just a day after the bank said profits last year had been all but wiped out in its efforts to clean up its accounts.
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