The Pope’s portfolio: how the Vatican Bank is cleaning up and cashing in
Pope Leo XIV leads a procession through the Holy Door of St. Peter's Basilica on the occasion of the Jubilee of the Holy See, Monday, June 9, 2025. (AP Photo/Alessandra Tarantino)
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, and Gian Franco Mammì watch over €5.7bn 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.
