Ettore Gotti Tedeschi is new chief of the Institute for Works od Religion. He teaches financial ethics and writes for L'Osservatore Romano
Javno (Croatia)
September 25, 2009
http://www.javno.com/en-economy/vatican-bank-picks-new-chief-executive-tedeschi_276202
The Institute for Works of Religion, the Vatican bank that was involved in mafia and finance scandals in the 1970s and 1980s, has nominated a new chief executive, the Vatican said on Wednesday.
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-.-AFP-.-The new chairman, Ettore Gotti Tedeschi, who is Spanish banking giant Santander's representative in Italy, also teaches financial ethics at Milan's Catholic University and writes for Vatican newspaper L'Osservatore Romano.
The Institute for Works of Religion manages bank accounts for religious orders and Catholic associations and benefits from Vatican offshore status.
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The bank is directed by a supervisory council and by an oversight commission of cardinals led by Vatican Secretary of State Tarcisio Bertone.
US archbishop Paul Marcinkus headed up the bank in 1971-1989 during which time it was caught up in scandals including the collapse of Banco Ambrosiano in 1982 amid accusations of links to the mafia and political terrorism.
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