Former Central Bank governor takes up vows of poverty, chastity and obedience

A former governor of the Central Bank of Malta has taken the vows of poverty, chastity and obedience as a professed Knight of the Order of St John.

For the first time since 1798 a member of the Maltese Association of the Sovereign Order of Malta took his vows in the Oratory in St John’s co-Cathedral. With the impressive backdrop of Caravaggio’s beheading of John the Baptist, Francis J Vassallo professed his first Temporary Vows in the hands of the Order’s Grand Commander, Fra’ Ludwig Hoffmann von Rumerstein, who was in Malta to represent the Grand Master Fra’ Matthew Festing at the ceremony.

Vassallo started with a successful career with Chase Manhattan Bank, and is the president of his own financial services firm, having served as a roving diplomat for Malta with a special focus on Latin America. Between 1987 and 1991, Vassallo was general manager of Chase Manhattan Bank in Spain and responsible for the setting-up of private banking and capital markets. He was then appointed general manager of Chase Private Bank in Switzerland, where he remained until September 1993.

He serves as an Extraordinary Minister of Holy Communion within the Chapel of Divine Mercy in Naxxar, and dedicates much time towards the activities of the Sovereign Order of Malta, especially within its Grand Magistry where he is a voluntary consultant to the Receiver of the Common Treasure.

The president of the Maltese Association of the Sovereign Order of Malta, Marchesino Daniel de Petri Testaferrata, and Dr Stephen Vassallo acted as first and second witness respectively.

The ceremony was held in the presence of Fra’ John E. Critien and Fra’ Duncan Gallie, both of whom are members of the Order’s Sovereign Council.

Vassallo, now Fra’ Francis, was widowed in 2013, having been married to Erminia nee Miceli Farrugia. They had three children, Alexia, Adriana and Steffan, and eight grandchildren.

After he became widowed he accepted the vocation to dedicate himself more fully to the Order, which he had joined as a Knight of Magistral Grace in 2000. He started his novitiate last year, which he has now successfully completed.

He will repeat his temporary vows for at least three consecutive years, at the end of which he shall be eligible to take his final permanent vows.

The main celebrant for mass was Mgr Lawrence Gatt, Principal Chaplain of the Maltese Association of Malta, assisted by a number of the Order’s chaplains.