The Vatican Bank has been without a director since Ettore Gotti Tedeschi was fired last May by a panel of five cardinals, Adnkronos International reported.
Gotti Tedeschi was ousted for failing to restore the bank's reputation after a money laundering scandal. He and a bank deputy were also investigated for money laundering.
Ansa reported that Gotti Tedeschi and the bank's board disagreed on issues connected to a move to join a list of financially transparent countries, the so-called "white list."
Von Freyberg, 55, is a member of the Sovereign Military and Hospitaller Order of St John of Jerusalem, of Rhodes and of Malta and the co-leader of the Association for Pilgrimages to Lourdes of the Archdiocese of Berlin, the Italian news agency ANSA reported.