VATICAN CITY
Wall Street Journal
By STACY MEICHTRY And GIADA ZAMPANO
VATICAN CITY—Two top managers at the Vatican bank resigned on Monday, in the latest shake-up at the scandal-plagued institution, the Holy See said.
Paolo Cipriani—managing director of the Istituto per le Opere di Religione, or IOR, as the Vatican bank is known—stepped down along with his deputy, Massimo Tulli.
As the highest-ranking administrators at the bank reporting, Messrs. Cipriani and Tulli spearheaded efforts under former Pope Benedict XVI to clean up the Vatican bank and make it more accountable to outside regulators.
“While we are grateful for what has been achieved, it is clear today that we need new leadership to increase the pace of this transformation process,” Vatican bank Chairman Ernest von Freyberg said.
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