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JY Pillay appointed to Vatican financial watchdog

Singapore's JY Pillay has been appointed to the Vatican's Financial Information Authority.

SINGAPORE: Singapore's JY Pillay has been appointed to the Vatican's Financial Information Authority.

Reports from AFP and Reuters on Thursday said he was among four new members appointed to the watchdog by Pope Francis.

The Pope had fired the previous group in a clean sweep of the "old guard".

The five sacked members, all Italian, had been appointed by the Pope's predecessor Pope Benedict XVI.

It comes as the Vatican tries to institute greater transparency and stronger oversight over its finances.

AFP reported that the other new members include an ex-security adviser to former US President George W Bush, Mr Juan Zarate; Italian manager Maria Farina; and Swiss financial consultant Marc Odendall.

A former top civil servant, Mr Pillay previously held the posts of managing director of the Monetary Authority of Singapore and the Government of Singapore Investment Corporation, and was also formerly the chairman of the Singapore Exchange.

He is currently chairman of the Council of Presidential Advisers and Tiger Airways Holdings.

He had earlier made his name by building Singapore Airlines into a top global brand.

Mr Pillay is not the only Singaporean who has been tapped on by the Vatican.

In 2013, former Foreign Affairs Minister George Yeo was among seven international experts chosen by Pope Francis to help him overhaul the Holy See.

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