Angelo Caloia
Angelo Caloia | |
|---|---|
| Born | May 2, 1939 Italy |
| Occupation(s) | Banker, economist |
| Years active | 1989–2009 (President of the Vatican Bank) |
| Known for | President of the Vatican Bank (1989–2009) |
Angelo Caloia (born 2 May 1939) is an Italian banker and economist who held the position of President at the Vatican Bank from 1989 until 2009.
Career
Appointed by Pope John Paul II in 1989, Caloia took over leadership of the Institute for the Works of Religion following Paul Marcinkus’s controversial tenure. His primary objective was to rehabilitate the institution’s reputation and ensure its financial soundness. Throughout his presidency, he focused on enhancing transparency and, upon his departure, reported favorable financial results, characterizing his work as having "healed" the IOR. Caloia stepped down on 23 September 2009, a year prior to completing his term, following a decision by the Cardinal Secretary of State. His successor was Ettore Gotti Tedeschi. Subsequently, Caloia assumed roles as a professor of political economy at the Catholic University and president of the bank Mediocredito Lombardo.
Legal issues
After an independent investigation initiated in 2013 by Ernst von Freyberg into questionable real estate transactions, Vatican authorities froze Caloia’s assets amid accusations concerning the misrepresentation of property sale prices between 2001 and 2008. While Caloia refuted any misconduct, he faced charges related to embezzlement involving millions of euros. On 21 January 2021, he received an eight-year prison sentence for embezzling funds connected to a property deal.