Citi Private Bank has joined forces with Sotheby’s, a broker of fine art, real estate, and collectibles, to offer a new programme dubbed Art: Beyond Borders.
Through the partnership, the two parties will organise worldwide events for their clients.
They will also provide videos on various artists, with the first video launched on 1 May 2019.
Overall, five such videos will be launched. Each of them will showcase a different masterpiece from a major art institution and offer expert insight on the work.
Citi is not new to the art world. The bank started its Art Advisory & Finance business in 1979 and supports clients in building art collections through its in-house art specialists.
Citi Private Bank Art Advisory & Finance global head Suzanne Gyorgy said: “A shared passion for art brings people together, across cultures, around the world.
“We are thrilled to be partnering with Sotheby’s for Art: Beyond Borders.”
Art’s relationship with wealth management
An increasing number of investment firms are now taking an interest in the world of art.
Swiss private bank Reyl Group started art lending in 2017 by launching Griffin Art Partners in association with art advisory firm Link Management.
Last month, multi-family office Hottinger Group launched art consultancy services.
UBS launched an art gallery in New York this April.
In the same month, digital wealth platform YieldStreet acquired Athena Art Finance.
In 2018, online art news platform HAPPENING TECHNOLOGIES rolled out a wealth management product focussed on the art market.