Resignation Watch '13: Vatican Bank

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Two of Christ's little worker-bees are now looking for new gigs in the financial services industry, if you've heard of any openings. References available upon request.

Director Paolo Cipriani and deputy-director Massimo Tulli stepped down three days after the Vatican was rocked by the arrest of Monsignor Nunzio Scarano, a high-ranking cleric with close ties to the financial institution, who is accused of plotting with two other people to smuggle 20 million euros into Italy from Switzerland. Ernst von Freyberg, a German who earlier this year became president of the bank, officially known as the Institute for Works of Religion (IOR), will assume the role of bank director until a permanent replacement is appointed. The bank has also established a new position of chief risk officer who will be charged with improving compliance with financial regulations at a bank which has long been a byword for secrecy and lack of transparency.

Top Vatican bank managers resign after Monsignor's arrest [Reuters]

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