Private banks use art to find emerging market clients

Wealth advisers renowned for sponsoring art shows to attract clients are starting to use them to attract the attention of individuals from booming emerging markets.
UK wealth manager Barclays Wealth has boosted this initiative by announcing a sponsorship deal with two contemporary Indian art exhibitions.Fresh from its sponsorship of tennis tournament the ATP World Tour Finals, it will sponsor two Indian exhibitions in London, ‘The Mother Teresa Series’ by M.F.Husain and ‘The Five Rays of Raza’ by S.H.Raza.
These will be showcased at Barclays Wealth’s Brook Street offices on 10th and 11th December and then move to the Mayfair gallery of Tanya Baxter Contemporary and Kings Road Gallery until 31st January 2010.The bank said: “A recent change is that whilst Indian art had been bought almost entirely by Indian collectors (mainly based outside India), it is now increasingly being collected by non-Indians.”
Elswhere, HSBC Private Bank has hosted a lunch to launch The Connection Collection by Israeli-born European designer Arik Levy, which will be showcased at Design Miami/, the International art fair, next week. Following Design Miami/, Arik Levy’s installation will be displayed at HSBC Private Bank offices in Geneva.
Tony Joyce, global head of marketing at HSBC Private Bank, said: “Our clients are increasingly interested in important design and our research has shown that they support our partnership with the Design Miami/ events.”German Deutsche Bank said it had signed a five-year sponsorship contract with ART HK, the three year old Hong Kong-based art fair.
ART HK will take place from May 27 to May 30 next year and expects over 110 galleries from 24 countries to attend. It was originally sponsored by defunct investment bank Lehman Brothers for its debut in 2008. This year it had no lead sponsor.
“Our sponsorship of ART HK reflects the importance and the growth of Deutsche Bank’s operations in the Asia-Pacific region,” the bank. “The successes of ART HK in 2008 and 2009 show the high demand for a world-class art fair in the region.” Ernst & Young, the accountants, are sponsoring the Victoria & Albert Museum’s Maharaja exhibition until January 2010, featuring a collection of exquisite artifacts from the 18th to 20th century Indian royal courts.
US bank Morgan Stanley last year backed the China’s Terracotta Army exhibition, showcasing a number of famous terracotta warriors from the Qin dynasty in 220 BC China, at the British Museum.
Source – Tara Loader Wilkinson

About visionsart

Visions Art is a premium gallery for Modern and Contemporary Art. Established in 2001 in Mumbai, advising private and corporate collectors on predominantly Indian Contemporary Art. Since 2003, the gallery opened up its new space in heart of south Mumbai, India. The permanent gallery space is designed as a private art space where both changing and its permanent collections are shown. The gallery’s program draws upon a diverse range of disciplines and intellectual perspectives while maintaining a clear progressive thread. Supporting mid-career and historic figures, as well as launching emerging artists. The gallery represents works by artists who are considered to be at the forefront of Indian contemporary art and is constantly looking to establish a roster of the more progressive artists from India and abroad. Indianartnews.info is a news post blog providing a viewers updates on the latest news and events related to indian art from across the world

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