The Institute for the Works of Religion (IOR), popularly known as the «Vatican bank,» has announced the appointment of Italian executive Marina Natale as a new member of its Supervisory Board, the body responsible for overseeing the Institute’s activities and ensuring its corporate governance.
With this addition, the IOR strengthens a key organ within the institution’s governance structure, as part of the process of reinforcing its oversight and transparency mechanisms developed in recent years.
A broad career in European banking
Marina Natale has more than thirty years of experience in the banking and financial sector. She began her career in 1988 at Credito Italiano and, from 1997 onward, led the group’s mergers and acquisitions operations for over a decade.
Among the transactions in which she participated are the creation of UniCredito Italiano, the acquisition of the German bank HypoVereinsbank (HVB), and its subsequent integration with Capitalia.
Between 2009 and 2017 she served on UniCredit’s Executive Committee, where she held, among other responsibilities, the positions of Chief Financial Officer and Deputy General Manager of the group.
Subsequently, from 2017 to 2023, she was Chief Executive Officer and General Manager of AMCO, the Italian public company specialized in the management of non-performing loans.
Experience on governance bodies
In addition to her executive career, Natale has held various institutional leadership positions. She was Vice Chair of the Italian Banking Association (ABI) and currently chairs the board of directors of Cherry Bank. She also serves on the boards of directors of the companies Erg and Nexi.
The IOR highlights her corporate governance experience
The Chair of the IOR’s Supervisory Board, François Pauly, welcomed the appointment, noting that Marina Natale’s experience will help continue strengthening the Institute’s governance.
“Her extensive experience and leadership skills acquired in the senior management of the European banking and financial system will enable the Institute to continue the process of strengthening its governance,” he stated.
Pauly added that her appointment represents “an important contribution to achieving the IOR’s objectives, in accordance with the principles of transparency, accountability, and integrity” that guide the Institute’s activities.