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The Institute for the Works of Religion (Italian: Istituto per le Opere di Religione; Latin: Institutum pro Operibus Religionis; abbreviated IOR), [4] [5] commonly known as the Vatican Bank, is a financial institution [2] that is situated inside Vatican City and run by a Board of Superintendence, which reports to a Commission of Cardinals and ...
Michele Sindona (Italian: [miˈkɛːle sinˈdoːna]; 8 May 1920 – 22 March 1986) was an Italian banker and convicted felon.Known in banking circles as "The Shark", [1] Sindona was a banker for the Sicilian Mafia and the Vatican.
The Bank of the Holy Spirit (Italian: Il Banco di Santo Spirito) was a bank founded by Pope Paul V on December 13, 1605. The bank was the first central bank in Europe (as the bank of the Papal States) at a level above city-states, [1] the first public deposit bank in Rome, [2] and the oldest continuously operating bank in Rome until its merger in 1992.
Calvi joined the bank after World War II, but he moved to Banco Ambrosiano, then Italy's second largest bank, in 1947. He married in 1952 and had two children. Soon he became the personal assistant of Carlo Alessandro Canesi, a leading figure and later president of Banco Ambrosiano. [1] Calvi was the bank's general manager in 1971 and chairman ...
Paul Casimir Marcinkus GCOIH (/ m ɑːr ˈ s ɪ ŋ k ə s /; January 15, 1922 – February 20, 2006) was an American archbishop of the Catholic Church and president of the Institute for the Works of Religion, commonly known as the Vatican Bank, from 1971 to 1989.
This became the foundation of the family bank established by his son, Giovanni Torlonia. Giovanni, in return for his able administration of the Vatican finances, was created duke of Bracciano [2] and count of Pisciarelli by Pope Pius VI in 1794. In 1803, Pius VII made him marquess of Romavecchia e Turrita and the first prince of Civitella Cesi.
The bank came to be known as the "priests' bank"; one chairman was Franco Ratti, nephew to Pope Pius XI. In the 1960s, the bank began to expand its business, opening a holding company in Luxembourg in 1963 which came to be known as Banco Ambrosiano Holding. This was under the direction of Carlo Canesi, then a senior manager, and from 1965 chairman.
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