February 15, 2013. (Romereports.com) After considering 40 candidates, in a seven month process, the Vatican has announced it has a new president to lead its bank. His name is Ernst von Freyberg. A German national from an aristocratic family, who is also a member of the Order of Malta. In addition this new role, he will also work separately, in the industrial sector.


FR. FEDERICO LOMBARDI
Vatican spokesman
“He mostly lives in Frankfurt, that's his main residence. But he travels quite a bit, since he has to attend to different jobs. He will probably spend three days a week here in Rome. He will have a consistent and continuous presence here, but not exclusive.”

The Vatican Bank is known as the IOR, which stands for Institute for Religious Works. Its assets total about 6 billion euros. It has 130 employees and manages about 44,000 accounts.

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