Pope Francis on Wednesday named Carmelo Barbagallo, of the Bank of Italy, as President of the Financial Information Authority (It: Autorità di Informazione Finanziaria, the AIF). He succeeds Rene Brülhart, whose term ended last week.
“I am honored to have received this appointment, aware of the full weight of the moral and professional responsibility it carries, and I thank the Holy Father for the trust he has placed in me”, the new President of the Financial Information Authority, Carmelo Barbagallo, said when speaking to Vatican News after publication of the news of his appointment.
“In carrying out my service of responsibility in leading the AIF”, Barbagallo added, “I will work to bring all my experience accumulated in forty years working at the Bank of Italy, as an inspector, as head of vigilance of the Italian banking and financial sector and in the context of the supervision of the European banking system.”
“I am sure”, he explained, “that the AIF will be able to give its own contribution in its role as a supervisory authority, so that the fundamental values of fairness and transparency of all the financial movements in which the Holy See is engaged may continue to be affirmed and recognized.”
“I intend to reassure the international system of financial information”, the President of the AIF concluded, “that all cooperation will be given in full respect of the best international standards. I will be at work already today to ensure continuity in the work of the AIF in pursuing its important institutional objectives.” He has written numerous articles on banking and financial subjects, with special reference to questions regarding financial innovation and the supervision of derivative instruments.
Vatican News Department
