In 2018, Pope Francis appointed Bishop Nunzio Galantino as president of the Administration of the Patrimony of the Apostolic See (APSA), which manages the finances of the Holy See and has 103 employees.
APSA was associated with questionable financial transactions during the tenure of his predecessor, Cardinal Domenico Calcagno, who was involved in a struggle with Cardinal George Pell over how much authority APSA should have. In 2018, before Bishop Galantino’s appointment, Pope Francis expressed concerns about APSA’s transparency.
Bishop Galantino is a close ally of the Pope, and last December, the Pontiff ordered the Secretariat of State to surrender all investment funds to APSA, and in July, APSA published its balance sheet for the first time.
