Pope Leo Inherits Cleaned Up Vatican Bank That's Making Money
From offices just off St. Peter's Square in the Vatican, Jean-Baptiste Douville de Franssu, a former executive at the money-management firm Invesco Ltd., and Gian Franco Mammì watch over €5.7 billion ($6.5 billion) at one of the world's most-exclusive banks.
It's a pittance compared with the trillions shuffled around by the Goliaths in London or New York. But the stockpile of assets and portfolio investments is serving the higher purpose of putting a small dent in the financial strains that have squeezed the Catholic Church for years.
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