Influence of American Promontory Group Over the Vatican Grows --- New Director of Vatican Bank Named

(Vatican) Rolando Marranci is the new Director General of the Vatican Bank IOR. Marranci was appointed last July 1st, provisionally to succeed Tullis after the surprise resignation of Director General Paolo Cipriani and Deputy General Director Massimo Tulli.

After five months Marranci was promoted to General. Prior to his appointment to the Vatican, the new IOR-General worked for a well-known Italian bank in London. The personnel decision was announced today by the head of the IOR after the Cardinal Supervisory Commission had given its approval. Ernst von Freyberg justified the appointment with the outspoken efficiency, Marranci has proven in the past few months. The IOR-General is responsible for the entire operational area of the Institute.

Career of BNL on Promontory to the Vatican Bank

Marranci operated the Italian Banca Nationale del Lavoro (BNL) from 1980 to 2011., where he held various management positions. From June 2013 he worked for the Promontory Group, which was tasked with investigations of IOR. A month later he was promoted to Vice-Genneral Director. Marranci, born in 1953 in the small town of Reggello in Tuscany near Florence, is married and the father of three children.

Discussions proceeded the appointment for weeks in internal Vatican internal discussions. A word also given by the Financial Information Authority (FIA) founded by Pope Benedict and under the direction of Cardinal Attilio Nicora. Marranci is a personal decision of IOR President, Ernst von Freyberg, who is close to the new Director-General.

Promontory Financial Group, with Close Contact to Financial Regulators

Promotory Financial Group, based in Washington DC is an American, internationally active consulting firm in the financial sector. The company was founded in 2001 by Eugene Ludwig and Alfred Moses. In addition to consultancy work for governments, including the U.S. government, the company was internationally known for its contract, a comprehensive investigation is performed for all customer contacts of the Vatican Vatican Bank IOR. Eugene Ludwig was Comptroller of Currency from 1993-1998 under President Clinton, inaugurating the bank's supervisory authority of the United States. Inn 1998/1999, before he founded his own company, he was deputy head of Bankers Trust Company , which belonged to Gruppe Deutsche Bank. Alfred Moses was legal advisor to U.S. President Jimmy Carter and Bill Clinton, and from 1994-1997 U.S. Ambassador to Romania. From 1991-1994 he was chairman of the American Jewish Committee (AJC), which was in direct contact with the Vatican for the formulation of the Declaration on the relation of the Catholic Church to Judaism in the Conciliar document Nostra Aetate.

President of Promontory Financial Group for Europe is the Italian, Raffaele Cosimo, who worked for BNL in London before joining the U.S. company, like Marranci, to May 2013. Cosimo's predecessor as Promontory Europe President was the Italian Finance Minister (from 2009) Tommaso Padoa-Schioppa (2006-2008), who was the six-year member of the Executive Board of the earlier European Central Bank (1999-2005) and more recently also as a member of Fiat and as a consultant for the Greek Government actively involved in economics, banking and managing debt. Promontory employees come mostly from state financial regulators and work with them closely.

Text: Giuseppe Nardi image: Sacri Palazzi

Trans: Tancred vekron99@hotmail.com

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