Former Rothschild director François Pauly, appointed head of the Vatican bank

François Pauly will become the new chairman of the Vatican bank IOR. He is currently president of the Compagnie financier La Luxembourgeoise and former managing director of the Edmond de Rothschild group. His appointment will be effective at the supervisory board meeting on April 28. Jean-Baptiste Douville de Franssu, the current chairman, will remain in office until then.

Since 2014, the IOR has seen significant improvements and is now recognized for its solid financial results, serving 12,000 clients globally, including the Pope and the Catholic Church. Cardinal Giuseppe Petrocchi praised Douville de Franssu for his contributions to the bank's renewal and expressed confidence in Pauly's leadership.