BREAKING NEWS

Vatican names German lawyer as head of its bank

By REUTERS

FEBRUARY 15, 2013 13:51

VATICAN CITY - The Vatican appointed German lawyer Ernst von Freyberg to be the new president of its bank on Friday, filling a post left vacant since May when the previous head was ousted by its board.

The Vatican has been trying to shed a reputation for a lack of financial transparency at its bank, officially known as the Institute for Works of Religion (IOR), but has been dogged by scandals.

A Vatican statement said Freyberg brought "a vast experience of financial matters and the financial regulatory process."

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