Cardinal Giuseppe Petrocchi, the retired archbishop of L\u2019Aquila, succeeds Cardinal Christoph Sch\u00f6nborn, the retired archbishop of Vienna.<\/p>\n
Cardinal Giuseppe Petrocchi, the retired archbishop of L\u2019Aquila, Italy, has been appointed president of the Cardinalitial Commission of the Institute for the Works of Religion (IOR), commonly known as the Vatican bank.<\/p>\n
Petrocchi succeeds Cardinal Christoph Sch\u00f6nborn, the retired archbishop of Vienna, who has led the commission since 2014 and is stepping down after reaching the age limit.<\/p>\n
In a statement, the commission thanked Sch\u00f6nborn \u201cfor his valuable leadership and for the commitment with which he supported and accompanied the institute during decisive phases of its reform process over the 12 years of his mandate,\u201d adding that his service helped ensure guidance consistent with the institute\u2019s mission.<\/p>\n
Sch\u00f6nborn, for his part, expressed \u201cprofound gratitude\u201d to Pope Francis for his \u201cconstant and enlightened support\u201d during the IOR\u2019s \u201clong and demanding\u201d reform process. He also thanked the bank\u2019s director general, Gian Franco Mamm\u00ec, and the institute\u2019s leadership and staff as well as the supervisory board chaired by Jean-Baptiste de Franssu for guiding what he described as a far-reaching transformation that has earned broad recognition within the international financial community.<\/p>\n
Petrocchi said he has witnessed \u201cimportant developments\u201d carried out by the institute in service of the Holy Father and the universal Church, and said the commission and the supervisory board will continue that work with an emphasis on continuous improvement, collaboration, and respect for Catholic ethics, transparency, and shared responsibility.<\/p>\n
At the same meeting, the commission welcomed Cardinal \u00c1ngel Fern\u00e1ndez Artime, pro-prefect of the Dicastery for Institutes of Consecrated Life and Societies of Apostolic Life, who was recently appointed a member of the commission by Pope Leo XIV.<\/p>\n
The Cardinalitial Commission oversees the IOR\u2019s fidelity to its statutes. It is composed of five cardinals appointed by the pope, who designate one of their members as president. Members serve five-year terms and may be confirmed once.<\/p>\n
In addition to Petrocchi and Fern\u00e1ndez Artime, the commission includes Cardinal Konrad Krajewski, Cardinal Luis Antonio Gokim Tagle, and Cardinal Emil Paul Tscherrig.<\/p>\n
This story\u00a0was first published\u00a0by ACI Stampa, the Italian-language sister service of EWTN News. It has been translated and adapted by EWTN News English.<\/p>\n