The banking industry and art have historically co-dependent, enmeshed relationships. This has been the case from the time of the Medicis during the Renaissance to the East India Company supporting Rembrandt in putting up his paintings as fiscal collateral to modern banks playing a major role in the contemporary art world since the 1950s.
The globally established Swiss bank, UBS, has been collecting contemporary art since the 1960s. Mary Rozell, global head of the UBS Art Collection and the author of The Art Collector's Handbook, said, "The UBS Art Collection is widely recognised as one of the most important corporate collections of contemporary art in the world, with more than 30,000 works, including paintings, works on paper, photography, sculpture, video, and installations by emerging talents and established artists."
The bank has acquired works by artists such as Jean-Michel Basquiat, Vija Celmins, Lucian Freud, Andreas Gursky, Mary Heilmann, Ellsworth Kelly, Roy Lichtenstein, Brice Marden, Ed Ruscha, Cindy Sherman, Wayne Thiebaud, Cy Twombly, and Christopher Wool.
GIVING A BOOST
UBS is not alone in its art collecting. Bank of America (BofA) has a collection of 50,000 artworks. Closer to home, the United Overseas Bank (UOB), which started collecting art in the early 1970s, now owns more than 2,600 artworks.
Speaking with The Peak, Christine Ip, head of group strategic communications and brand, UOB, said, “The bank began collecting artworks for two reasons: The first as a way to reach out to and support the fledgling local art scene, and the second, to acquire quality artworks by local artists that would be displayed within UOB’s new office building located in Bonham Street.”
この記事は The PEAK Singapore の March 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は The PEAK Singapore の March 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Wear The World On Your Wrist
These watches are proudly made in Switzerland, but prouder still are their homages to other cultures.
Shaping Healthy Confectioneries Through Science-Backed Innovation
At a time when health-conscious consumers are questioning the norms of processed foods, Glico tells us why it stands firm in its confidence.
The Home Advantage
This AI-dependent reno-tech platform is cutting out the middleman for interior designing and, recently, its financing.
Financing Art
UOB, UBS, OCBC, and Bank of America are some financial institutions involved heavily in today's art world. Why is this the case?
Airing New Possibilities
Acclaimed chefs Matthew Orlando and Will Goldfarb hope to inspire and spark deeper conversations and action around food and circular cooking at their idyllic concept Air in lush Dempsey Hill.
Taking Initiative
Nicole Robinson, andbeyond's chief marketing officer, shares how the luxury safari operator is accelerating its ground partnerships in a race against time to save the planet's remaining wilderness.
Tropical Modernism
In this three-storey inter-terrace belonging to a family of four, designer Ethan Lin of TE-EL sought to create a cosy nest that marries the disparate tastes of its owners.
A Symphony of Vintage
Antoine Bakhache, founder of Bakhache Jewellery, shares the story behind the brand's inception, its curated vintage collections, and the journey ahead.
Time is of the Ressence
Time is of the Ressence Independent watch brand founder Benoit Mintiens on creating unique timepieces by focusing on the user experience.
A Timeless Impact
The Rolex Awards for Enterprise celebrate innovators like Denica Riadini-Flesch, whose work at SukkhaCitta focuses on ethical craftsmanship.