- Partnership offers series of exclusive events across the U.S. and provides Wealth Management clients access to unparalleled service and expertise.
- Kickoff event brings rare paintings by famed Impressionist painters to Texas.
DALLAS AND NEW YORK– BBVA Compass today announced a new partnership with Christie's that combines the bank's financial capabilities with the auction house's reputation for unparalleled service and expertise in collectible assets – and will bring rarely seen pieces of art to the bank's clients in a series of exclusive events.
“We’re a bank that appreciates the importance of art, indeed the value of art, and many of our clients do as well,” said Manolo Sánchez, BBVA Compass president and CEO. “This new relationship is our way of bringing Christie’s special expertise to them in a useful way and in the context of their overall financial wellbeing.”
To kick off the partnership, BBVA Compass and Christie’s will co-host a private event in Dallas this evening that will feature paintings by impressionist Claude Monet, Camille Pissarro, Berthe Morisot and remarks by Pissarro expert Dr. Richard Brettell. Until now the featured works have been held in private collections, but they will be up for auction in May. Once sold, the paintings may again disappear from public view for decades, making the event an exclusive opportunity for a select few to view the masterpieces.
The relationship between BBVA Compass, a subsidiary of Spain-based BBVA Group, and Christie’s also draws synergies from the similar hallmarks of each: international reach and client service. For its part, BBVA has a strong presence from Mexico to Argentina.
This new relationship brings together two organizations with a global presence and exceptional client service,” said Stephen Lash, chairman emeritus of Christie’s. “While our initial work together
will begin in the U.S., there is clearly and opportunity to work together in Mexico, Latin America, and beyond.”
The partnership will be especially useful to the bank’s clients who need financial advice on managing “treasure assets,” such as fine art, antiques, wine, classic cars and jewelry. A recent report by Deloitte found that wealthy individuals hold an average of 9.6 percent of their total net worth in such assets, which require precise documentation for insurance purposes and estate planning.
“This new partnership will enable our organization to more broadly serve our clients by directly leveraging Christie’s subject matter experts from around the globe,” said Bill Helms, head of Wealth Management at BBVA Compass, referring to Christie’s experts in more than 40 categories of collectible assets. “It’s our responsibility to provide clients with the best advice possible and that’s a solemn trust our Wealth Managers have dedicated their careers to providing.”
As part of its commitment to supporting the arts in Dallas, BBVA Compass recently provided funding for the “Chagall: Beyond Color” exhibition at the Dallas Museum of Art. The bank has also sponsored other high-profile exhibitions, including one at the Museum of Fine Arts, Houston that featured the largest collection of art ever to leave Spain’s Prado museum.
Christie’s, the world's leading art business, had global auction, private and digital sales in 2018 that totalled £5.3 billion / $7 billion. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and international expertise. Christie’s offers around 350 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War & Contemporary, Impressionist & Modern, Old Masters and Jewellery.
Alongside regular sales online, Christie’s has a global presence in 46 countries, with 10 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, Hong Kong, and Shanghai.
*Please note when quoting estimates above that other fees will apply in addition to the hammer price - see Section D of the Conditions of Sale at the back of the sale catalogue.
*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and are reported net of applicable fees.