CQS’ Hintze To Join Vatican Bank Board

Jul 10 2014 | 6:11am ET

Pope Francis is turning to a prominent hedge fund manager to help him clean up the scandal-tarred Vatican Bank.

CQS founder Michael Hintze has been named to the board of the bank, officially known as the Instituto per le Opere di Religione, one of six new lay members. The move is part of a series of changes the pope, elected last year, has made to clean up the Vatican Bank, which in recent years has faced charges of money laundering.

Hintze is a devout Roman Catholic.

In addition to the reconstituted board, the pope also named a cardinal, George Pell, to oversee his new Secretariat for the Economy, in February, and this week appointed former Invesco European head Jean-Baptiste de Franssu president of IOR.

“Our ambition is to become something of a model in financial management rather than a cause for occasional scandal,” Pell, the former archbishop of Sydney, Australia, said.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of