New Vice Director Appointed to Ior (vatican Bank)

Vatican Radio
March 6, 2015

http://en.radiovaticana.va/news/2015/03/06/new_vice_director_appointed_to_ior_(vatican_bank)_/1127538

Interior view of Institute for Religious Works (IOR) - EPA

The Board of Superintendence of the Istituto per le Opere di Religione has appointed Gianfranco Mammi as Deputy-Director with immediate effect for an indefinite term. The appointment has been approved by the IOR Supervisory Commission of Cardinals and the “Autorita di Informazione Finanziaria, the financial supervisory body for the Vatican City State. Gianfranco Mammi (59) began his career at the IOR in 1992 at the cashier desk. Over the past 23 years he has gained vast experience in various positions working with the Institute's Italian and Latin American clients in subsequent roles as Client Relationship Manager or later as Deputy Head of the Succession Office. Most recently he served as Head of Purchasing Office. In his new position as Vice Director, he reports to the Board of Superintendence and is jointly responsible with the Institute’s Director General Rolando Marranci for all operational activities.

Rolando Marranci has been confirmed as Director General. The position of Vice Director had been vacant. The Board of Superintendence is grateful to Gianfranco Mammi for accepting the appointment. It reflects the Board’s focus on promoting in-house talent whilst IOR is implementing improvements to its services and products as previously announced. Gianfranco Mammi holds a degree in Political Science from the University of Messina.

About the Istituto per le Opere di Religione (IOR):

Often referred to as the Vatican Bank, the “Istituto per le Opere di Religione” (IOR) is an institute founded on 27 June 1942 by Papal Decree. Its origins date back to the "Commissione Cardinalizia ad Pias Causas" established in 1887 by Pope Leo XIII. The purpose of the IOR is to serve the global mission of the Catholic Church by providing for the custody and administration of its customers’ assets, and carrying out dedicated worldwide payment services for its customers. The Institute’s mission was confirmed by the Holy Father, Pope Francis, on 7 April 2014. The IOR operates from a single location – its headquarters in the Vatican City State – and is regulated by the "Autorita di Informazione Finanziaria" (AIF), the financial supervisory body for the Vatican City State. The IOR serves approximately 15,500 customers. As of 31 December 2013, the Institute was entrusted with customers’ assets totalling 5.9bn euros.