Peter Sutherland to be one of God's top bankers - Wednesday December 6th 2006
mevle...@yahoo.ca
Wednesday December 6th 2006
IRISH businessman and former Attorney General, Peter Sutherland, has
been named as one of the Vatican's investment gurus.
Mr Sutherland (60) has been appointed as an expert adviser on Vatican
finances by Pope Benedict XVI.
His appointment to the board responsible for the Administration of the
Patrimony of the Apostolic See, known as APSA, was announced in Rome
yesterday. APSA is the office within the Roman Curia that deals with
properties owned by the Vatican, which provide revenue for the Pope and
the Vatican civil service to carry out their administration of the
universal Catholic Church.
It is not to be confused with the Institute for the Works of Religion,
more commonly known as the Vatican Bank, which was embroiled in
scandals associated in 1982 with the collapse of the Banco Ambrosiano,
whose chairman Roberto Calvi was found hanging from Blackfriars Bridge
in London.
Along with the Prefecture for the Economic Affairs of the Holy See,
APSA was given the task of improving the running of the Vatican's
cash-flow and investments, as well as pension funds - that were
traditionally enshrouded in secrecy.
APSA examines the budgets of the various branches of the Roman Curia,
and advises on the Holy See's investments in stocks and real estate. Mr
Sutherland will also examine the Holy See's management of its
personnel, as the biggest expense for the Curia is its wage bill to
staff, including the operation of its embassies around the world.
Mr Sutherland is chairman of BP Amoco in London, is a former chairman
and managing director of Goldman Sachs and a former EU Commissioner.
Born in Dublin in April 1946, he was educated at the Jesuits' Gonzaga
College, University College Dublin, and the King's Inns.
Known by his friends as 'Suds', Mr Sutherland was called to the Bar in
1968, but failed to win a Dail seat as a Fine Gael candidate in the
1969 general election.
In the early 1980s, Mr Sutherland served as Attorney General in the two
Fine Gael/Labour coalitions led by Dr Garret FitzGerald, before being
appointed to Brussels in 1983 as Ireland's member of the European
Commission.
Last night, Archbishop of Dublin Dr Diarmuid Martin welcomed Mr
Sutherland's appointment and described him as "eminently qualified" to
assist the Pope.
John Cooney
© Irish Independent
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