GERMAN LAWYER ERNST VON FREYBERG, NEW PRESIDENT OF SUPERVISORY BOARD OF IOR

Vatican City, 15 February 2013 (VIS) – According to a communique published today, the Commission of Cardinals for the Institute for the Works of Religion (IOR) has made an appointment, in accordance with the Institute’s statutes, of a new president of the Supervisory Board, Ernst von Freyberg. The other four members of the Supervisory Board will all remain in office.

"This decision is the result of extensive evaluation and a series of interviews that the Commission of Cardinals has conducted, with the constant support of the Supervisory Board. This painstaking and detailed process lasted for some months, making it possible to assess a number of candidates of professional and moral excellence, with assistance from an independent international Agency that is a leader in the selection of top executives."

"The Holy Father has closely followed the entire selection process leading to the choice of the new President of the Supervisory Board of the IOR, and he has expressed his full consent to the choice made by the Commission of Cardinals."

Included in the information is Mr. von Freyberg's curriculum. He was born in Germany in 1958 and from 1978 to 1985 he studied law at the universities of Munich and Bonn. From 1986 to 1987 he attended the Verwaltungshochschule Speyer. In 1988 he earned admission to the Bar at Landgericht, Ulm and passed the second law exam at Oberlandesgericht, Stuttgart. From 1988 to 1991 he worked for TCR Europe Limited (Bemberg Group), Three City Research Inc., and from 1991 to 2012 he founded and served as CEO of Daiwa Corporate Advisory GmbH. From 2012 to the present he has been with Blohm+Voss Group in Hamburg, Germany, serving as its chairman.

Mr. von Freyberg is an active member of the Sovereign Military Hospitaller Order of Saint John of Jerusalem of Rhodes and of Malta. He is co-leader of the Association for Pilgrimages to Lourdes of the Archdiocese of Berlin. He is founder and member of Freyberg Stiftung since its creation in 2009. This foundation supports three Catholic organizations in France, Germany, and Austria, the FreiligrathSchule (primary school in Frankfurt) providing student scholarships. He is also a member of the supervisory board of Flossbach von Storch AG, a Cologne based asset management firm. He is a member of the advisory board of Manpower GmbH, a temporary work service firm in Germany.

Mr. von Freyberg brings with him a vast experience of financial matters and the financial regulatory process.