This post was originally published on this site.
The Institute for Works of Religion’s board has elected a new president, marking a turnover in leadership at the top of the Vatican bank for the first time in more than a decade.
The IOR announced March 25 that the long-serving president of the bank’s Board of Superintendence, Jean-Baptiste de Franssu, will step down on April 28 after a final meeting to approve the bank’s financial statements from the previous year. De Franssu presided over a period of significant regulatory reform at the bank.
De Franssu will be succeeded by François Pauly, a current board member, in what the bank described in a press notice as a “carefully managed succession process” aimed at “ensuring continuity in the governance of the Institute.”
Pauly, a Luxembourgian national, has served as a member of the Board of Superintendence since 2024. He is currently Chairman of La Luxembourgeoise Group, and sits on the finance council of the Archdiocese of Luxembourg.
According to the IOR statement, he was elected by the bank’s board in December last year, receiving the approval of the IOR’s Commission of Cardinals at the end of January.
He previously served as CEO and Chairman of Banque Internationale
Read more...
