Corporate art collections: Expanding access to art and creating new opportunities for artists

The first corporate art collection was created in 1472, by Siena’s family-owned Banca Monte dei Paschi di Siena. At that time, collecting art was a pursuit for the elite who acquired or commissioned works they believed would reflect, and presumably also elevate, their status and prestige.

Since then, companies have continued to collect art, but the nature of their collections as well as their underlying purposes for acquiring art have evolved considerably. Today, corporate art collections figure in both corporate social responsibility strategies and employee wellness programmes.

In this article, Francesca Giurato, AXA XL’s Underwriting Manager Art, Specie and Bloodstock, explores how corporate art collections have been expanding access to art and creating new opportunities for artists for more than 500 years.