ROME
Crux
Claire Giangravè May 1, 2017
EDITORIAL ASSISTANT
The IOR, also known as the Vatican bank, is turning a new page and adding three new lay members to its Supervisory Board. According to Investment Guru at Notre Dame, Scott Malpass, this change is an “expression of a rich heritage of the Church engaging with laity.”
ROME – In December 2016 the Vatican announced that the lay board of the Institute for Works of Religion (IOR), also known as the Vatican Bank, had added three new members bringing the total count to seven.
This represented an effort to think outside the box for the IOR in the sense that it showed not only a strong support for reform and change within the Vatican institution, but also openness toward world-renowned lay experts and professionals to bring attention to the balance sheet.
The newbies are American Scott C. Malpass, Spaniard Javier Marín Romano and the German Georg Freiherr von Boeselager. They all have in common a vast experience in the banking and financial fields as well as the fact that none of them is Italian.
The latter caused a bit of patriotic indignation on behalf of Italian media outlets that pointed at the board as in the conspiratorial hands of “Americans, Opus Dei, and the Germans.”
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