IOR appoints new member to Board of Superintendence

Vatican News

The Institute for the Works of Religion (IOR) has announced the appointment of Marina Natale as a new member of its Board of Superintendence, describing the move as a further step in strengthening the Institute’s governance and strategic direction.

The news came in a press release issued on Wednesday by the IOR, which highlighted Natale’s more than three decades of experience in the banking and financial sectors.

Throughout her career, Natale has held senior leadership positions at some of Italy’s leading financial institutions, developing expertise in strategy, finance, corporate governance, mergers and acquisitions, and corporate transformation.

She began her career at the Italian bank Credito Italiano in 1988 before taking responsibility for mergers, acquisitions and business development in 1997. During more than a decade in that role, she oversaw numerous major operations.

In 2008, she led the creation of UniCredit’s European Private Banking platform. She later served on the bank’s Executive Management Committee from 2009 to 2017, holding a number of senior positions, including Chief Financial Officer and Deputy General Manager.

From 2017 until 2023, Natale served as Chief Executive Officer and General Manager of AMCO – Asset Management Company, the Italian state-owned company specialising in the management of non-performing loans, where she led its growth and consolidation within the sector.

She currently provides strategic and financial consultancy services and serves as Chair of the Board of Directors of Cherry Bank, while also sitting on various boards.

Welcoming the appointment, François Pauly, President of the IOR’s Board of Superintendence, said he was “pleased to welcome Marina Natale to the Board of Superintendence of the IOR.”

He added that her “distinguished experience and leadership skills developed at the highest levels of the European banking and financial system will enable the Institute to continue strengthening its governance and further developing its strategic priorities.”

According to the press release, Pauly said her appointment “represents an important contribution to the pursuit of the IOR’s objectives, in accordance with the principles of transparency, accountability and integrity that guide the Institute’s activities in the service of the Holy See and the Church throughout the world.”

The IOR is the only institution authorised to carry out professional financial activities in Vatican City State. It provides banking and investment services to more than 12,000 clients connected with the Catholic Church across more than 110 countries, managing entrusted assets in accordance with the Church’s Social Doctrine and international standards.