Pope Francis names members of Council for the Economy

2014-03-08 Vatican Radio

(Vatican Radio) Pope Francis has named the members of the Council for the Economy, which was created with the Motu Proprio “Fidelis dispensator et prudens” on 24 February2014. It is composed of 8 Cardinals and 7 laypeople.

In a statement by the Director of the Holy See Press Office, Rev. Federico Lombardi, SJ, it is noted Cardinals Cipriani Thorne , Napier, Rivera Carrera, Ricard , Hong Ton, Vallini , as well as Cardinal George Pell, the new Prefect of the Secretariat of Economy, were all members of the Council for the Study of Organizational and Economic Problems of the Holy See ( Council of 15) , which has been replaced by the new Council for the Economy. Father Lombardi also points out that Cardinal Marx and Cardinal Pell are both members of the Council of Cardinals for the reform of the Apostolic Constitution Pastor Bonus, and to assist the Holy Father in the governance of the universal Church.

Father Lombardi said the relationship between the Council and the Secretariat for the Economy will be defined by their statutes, and, in any case, the Council is understood to be a body having the authority to act, and is not a mere advisory body of the Secretariat of Economy .

He also said the Motu Proprio “Fidelis dispensator et prudens” requires the Council to represent the universality of the Church, and the different geographical areas represented by the Council reflects this.

Father Lombardi said the establishment of the Council for Economics is a key step towards the consolidation of the existing management structures of the Holy See, which is meant to improve the coordination and supervision of economic and administrative issues.

The Council is now operational, and its first meeting is scheduled for May.

List of Members of the Council for the Economy, along with their biographies

Reinhard Card. Marx, Archbishop of München und Freising (Coordinator);
Juan Luis Card. Cipriani Thorne, Archbishop of Lima;
Daniel N. Card. DiNardo, Archbishop of Galveston-Houston;
Wilfrid Fox Card. Napier, Archbishop of Durban;
Jean-Pierre Card. Ricard, Archbishop Bordeaux;
Norberto Card. Rivera Carrera, Archbishop of México;
John Card. Tong Hon, Bishop of Hong Kong;
Agostino Card. Vallini, Vicar General of His Holiness for the Diocese of Rome
Joseph F.X. Zahra, Malta (Vice-Coordinator);
Jean-Baptiste de Franssu, France
John Kyle, Canada;
Enrique Llano Cueto, Spain;
Jochen Messemer, Germany;
Francesco Vermiglio, Italy;
George Yeo, Singapore.
* * *

His Eminence Reinhard Cardinal Marx is the Coordinator of the Council for the

He has been Archbishop of Munich and Freising since 2008. Previously he was Bishop of
Trier (2002–2008), Auxiliary Bishop of Paderborn (1996–2001) and Titular Bishop of Petina
Cardinal Marx is a member of the Council of 8 Cardinals.

His Eminence Daniel Cardinal DiNardo has been Archbishop of Galveston-Houston since
2006. Before that he was Coadjutor Archbishop of Galveston-Houston (2004-2006), Coadjutor
Bishop of Galveston-Houston (2004), Bishop of Sioux City (1998-2004) and Coadjutor Bishop
of Sioux City (1997-1998).

His Eminence Wilfrid Fox Cardinal Napier has been Archbishop of Durban since 1992.
Previously he was Bishop of Kokstad (1981-1992).
Cardinal Napier was a member of the former Council of 15 Cardinals for the Study of
Organizational and Economic Questions of the Apostolic See.

His Eminence Norberto Cardinal Rivera Carrera has been Archbishop of Mexico City
since 1995. Previously he was Bishop of Tehuacán (1985-1995).
Cardinal Rivera Carrera was a member of the former Council of 15 Cardinals for the Study
of Organizational and Economic Questions of the Apostolic See.

His Eminence Juan Luis Cardinal Cipriani Thorne has been Archbishop of Lima since
1999. Previously he was Archbishop of Ayacucho (1995-1999), Auxiliary Bishop of Ayacucho
(1988-1995) and Titular Bishop of Turuzi (1988-1995).
Cardinal Cipriani Thorne was a member of the former Council of 15 Cardinals for the Study
of Organizational and Economic Questions of the Apostolic See.

His Eminence Jean-Pierre Cardinal Ricard has been Archbishop of Bordeaux since 2001.
Previously, he was Bishop of Montpellier (1996-2001), Coadjutor Bishop of Montpelli er (1996),
Auxiliary Bishop of Grenoble (1993-1996) and Titular Bishop of Pulcheriopolis (1993-1996).
Cardinal Ricard was a member of the former Council of 15 Cardinals for the Study of
Organizational and Economic Questions of the Apostolic See.

His Eminence John Cardinal Tong Hon has been Bishop of Hong Kong since 2009.
Previously, he was Coadjutor Bishop of Hong Kong (2008-2009), Auxiliary Bishop of Hong
Kong (1996-2008) and Titular Bishop of Bossa (1996-2008).
Cardinal Tong Hon was a member of the former Council of 15 Cardinals for the Study of
Organizational and Economic Questions of the Apostolic See.
His Eminence Agostino Cardinal Vallini has been Vicar General of Rome since 2008.
Previously, he was Prefect of the Apostolic Signatura (2004-2008), Bishop of Albano (1999-
2004), Auxiliary Bishop of Naples (1989-1999) and Titular Bishop of Tortibulum (1989-1999).
Cardinal Vallini was a member of the former Council of 15 Cardinals for the Study of
Organizational and Economic Questions of the Apostolic See.


Joseph F.X. Zahra is an economist and founding partner and Managing Director of
MISCO, the independent consulting group operating in Malta, Italy and Cyprus. He has a wealth
of practical Board experience gained from many years of leading organizations in the private and
government sectors in both an executive and non-executive Director capacity. He has a long
history of working effectively with Chairs, Directors and Senior Executives to improve corporate
performance. He has been a consultant and board facilitator in the Corporate World, for over 25
years guiding executives in changing the way they do business, using new technologies and
business models. He has addressed numerous seminars on industrial development, managerial
economics, financial services and management all over Europe as well as in North America,
consulting companies and organizations, across a diverse range of industries and professions.
He is a former director of the Central Bank of Malta and former member of the Monetary
Policy Committee, former chairman of Bank of Valletta plc., Maltacom plc., and Middlesea
Insurance plc. as well as Chairman of the National Commission for Higher Education. In 2005
he was appointed by the Prime Minister of Malta as the Chairman of the National Euro
Changeover Committee. In July 2013, Pope Francis appointed him President of the Commission
for the reforms of the economic and administrative structures of the Holy See. He sits on a
number of boards of directors of both private and listed companies operating in financial
services, oil services, transportation, retailing and accommodation.

Jean-Baptiste de Franssu is Chairman of INCIPIT, an M&A advisory and consulting firm.
Up to the end of October 2011 he was Chief Executive Officer of Invesco Europe and a member
of the Invesco Worldwide management committee.
Before joining Invesco in 1990, Jean-Baptiste was a Director of Groupe Caisse des Dépôts
et Consignations in France, and prior to this a Financial Editor at INVESTIR magazine.
Jean-Baptiste is a graduate of the ESC Group Business School in Reims, France and holds
a BA in European Business Administration from Middlesex University in the UK. He also holds
a postgraduate degree in Actuarial Studies from Pierre and Marie Curie University in Paris.
In June 2009 he was elected President of the European Fund and Asset Management
Association (EFAMA). His mandate ended in June 2011. Jean-Baptiste was also a member of
the European Commission's asset management expert group on UCITS regulatory regime
evolution. He was Chairperson of the Think Tank Group on Thought Leadership in Asset
Management that released 3 key publications including one in January 2009 on the key
challenges faced by UCITS post credit crisis, with the support of European commissioner
McGreevy. In 2009 he was Elected European fund industry personality of the year. He has, over
the years, contributed to many publications and seminars on issues relating to regulation and
supervision of asset management activities. Since 2013, Jean-Baptiste has been a member of the
Pontifical Commission for Reference on the Organization of the Economic-Administrative
Structure of the Holy See.
Jean-Baptiste is non-executive director of TAGES LLP, Carmignac Gestion S.A. and
ACOFI SCA. He is also a member of various boards of European and US charities. He is married
with Hélène de Gerlache de Gomery and they have 4 children.

John F. Kyle retired in 2008 as Vice-President and Treasure of Imperial Oil Limited in
Canada after 34 years of service. Born in the United States on January 16, 1943, he is a dual
citizen of Canada and the United States.
Dr. Kyle obtained his Ph.D. in economics from the University of Wisconsin in 1971. Early
in his professional career he taught economics at Northwestern University in Evanston, Illinois
and also at New York University. He moved to Canada in 1976 and joined Imperial Oil where
he held a number of executive positions with Imperial and its parent company, ExxonMobil Corp
prior to becoming Vice President and Treasurer in 1991.
Dr. Kyle is a member of the Board of Directors of the Canadian Catholic Bioethics Institute
in Toronto, and has been a member of the Council of International Auditors of the Prefecture for
the Economic Affairs of the Holy See since 2005. He was a member of the Finance Council of
the Archdiocese of Toronto from 1991 to 2005, and a member and chair of the audit committee
of the Board of Catholic Cemeteries of Toronto. He was also a member of the Board of
Directors of Saint Joseph’s Health Centre in Toronto from 1992 to 2003, and served as Board
Chair from 1998 to 2003. From 2003 to 2005 he was a member of the board of directors of The
St. Joseph's Health Centre Foundation.
He and his wife Judith currently divide their time between Naples, Florida, Canada and

Enrique Llano Cueto is an Economist from the University of Madrid and a Chartered
He began his career at Deloitte Haskins and Sells (now Deloitte and Touche) where he
served, during more than fifteen years, audit clients in the industry as well as in the financial,
insurance and in the health care sector as director and audit partner. He was elected in 1986
member of the Partnership Board until 1988. Between 1988 and 2008, he was audit partner of
KPMG Peat Marwick (now KPMG), responsible for Infrastructure, Government and Public
Health line of business and lead partner responsible for services rendered worldwide to certain
major clients in the public and private sectors. He served on the Partnership Board for several
At present, he is an independent adviser to middle size and family business companies. He
is also a former independent director and chairman of the audit committee of NCG Bank SA.
Enrique is member of several business associations and of the Spanish Chapter of Club de
Since 2013, Enrique has been a member of the Pontifical Commission for Reference on the
Organization of the Economic- Administrative Structure of the Holy See.

Jochen Messemer, 47 years old, lives in Düsseldorf, Germany. He is a former Partner of
McKinsey&Company (1993-2003), where he served clients in the Health Care and Financial
Service Industry. During that time he has also worked for various institutions of the Catholic
Church in Germany.
He has been an International Auditor of the Prefecture for Economic Affairs of the Vatican
and the Holy See since 2009 and a member of the Pontifical Commission for Reference on the
Organization of the Economic-Administrative Structure of the Holy See since 2013.
He is a Senior manager with experience in the insurance and health care industry. Since
2004 he is working for the ERGO Insurance Group. He was Member of the Board of DKV
Health Insurance Company (2003-2010). Since 2009 he is responsible for the International
Insurance Business of ERGO as Chairman of the Board of Ergo International Ltd.
He holds a PhD in Economics and an MBA in Business Administration.

Francesco Vermiglio is Full Professor of Business Administration at the University of
Messina since 1987. From 1991 to 2006 he also taught Business Administration and Cost
Accounting at the University "LUISS Guido Carli" in Rome.
His main academic interests lie in accounting, company valuation and corporate social
He is founding member and former chairman of GBS, the national study and research group
that drafted and maintains the social reporting standards for Italian private companies and Public
He was member of the Executive Committee of the OIC (Organismo Italiano Contabilità),
the institution that defines and maintains the Italian Accounting Standards and contributes to the
development of the International Accounting Principles and Standards.
In 1968 he was awarded the Chartered Accountant and Chartered Auditor professional
He is serving as a consultant on matters related to accounting, company valuation and
corporate finance to various organizations, including several public institutions.
He was a board member for several companies and banks including Banco di Sicilia and
Bank of Valletta (Malta).
From 1992 to 2013 he was in the Board of Directors of the Diocesan Institute for the support
of the Clergy of the Dioceses of Messina, Lipari and S. Lucia del Mela (Istituto Diocesano per
il Sostentamento Clero delle Diocesi di Messina, Lipari e S. Lucia del Mela).
Francesco is member of several scientific associations and author of more than 50 scientific

George Yeo, age 59, has been the Chairman of Kerry Logistics Network since August 2012.
From 1988 to 2011, Mr. Yeo served for 23 years in the Singapore Government, as Minister
of State for Finance, then as Minister for Information and the Arts, Health, Trade and Industry,
and Foreign Affairs. Prior to 1988, Mr. Yeo served in various capacities in the Singapore Armed
Forces, including Chief-of-Staff of the Air Staff and Director of Joint Operations and Planning
in the Defence Ministry, attaining the rank of Brigadier-General.
Mr. Yeo chairs the International Advisory Panel of India's Nalanda University, and is a
member of the Foundation Board of the World Economic Forum, the Berggruen Institute on
Governance, the Asia-Pacific Advisory Board of Harvard Business School, the International
Advisory Board of IESE Business School, the Economic Development Commission, Hong
In 2013, Mr. Yeo was appointed a member of the Pontifical Commission for Reference on
the Economic-Administrative Structure of the Holy See. Mr. Yeo has been an independent nonexecutive
director of AIA Group Limited (a listed company on the Hong Kong Stock Exchange
with stock code 1299) since November 2012. Mr. Yeo was awarded the Philippines’ Order of
Sikatuna, India’s Padma Bhushan and Australia’s Honorary Officer of the Order of Australia.
Mr. Yeo graduated from Cambridge University in engineering in 1976 and also obtained a
master of business administration degree from Harvard Business School in 1985. In addition, Mr.
Yeo was a visiting scholar to Peking University from September to December 2011 and remains
a visiting scholar at the Lee Kuan Yew School of Public Policy.