Posted on Oct 24, 2019 at 3:57 p.m.Updated Oct 24, 2019, 5:27 PM
The Bank of America is the biggest patron of the Leonardo da Vinci retrospective at the Louvre. For this bank present in Paris for 65 years, it was almost obvious. “We have a long-standing relationship with the museum and this retrospective promises to be memorable” comments Rena de Sisto, Global Head of Arts and Culture programs at the bank.
For the latter, the professionalism of the Louvre teams during all stages of the negotiation also contributed to its decision, as well as the museum’s ability to propose meaningful projects. “We wanted to be the main sponsor because this sponsorship makes possible a new pilot educational program making it possible to welcome 850 disadvantaged young people during ten Tuesdays under the best conditions. While also allowing us to offer visiting opportunities to our customers, our employees, as well as to associations of which we are partners such as Sport dans la Ville, Force Femmes, or Simplon, a solidarity school ”, continues Rena de Sisto.
This is not the first time that the financial institution has responded to requests from French museums. The bank had already sponsored the “Manet, Inventeur du moderne” exhibition in Orsay, Roy Lichtenstein’s world tour, one of the stops at the Center Pompidou, or the Hockney retrospective also in Beaubourg.
In terms of conservation, the bank has already announced at the Louvre its support for the restoration of the painting “Scenes from the Massacre of Scio” by Eugène Delacroix as it had helped that of “The Victory of Samothrace”. Orsay also benefited from the largesse of the Bank of America for the restoration of “The Painter’s Workshop”, and the Picasso Museum for “Women at their toilet”.
A collection of 50,000 works
Another axis of patronage, loans from the company’s own collection. Rich in 50,000 pieces, notably modern art and photography, this collection is the subject of numerous temporary deposits (at the Musée de l’Orangerie, at the Center Pompidou, etc.). And 10 to 12 exhibitions per year are even delivered turnkey, free of charge, to non-profit museums: this was the case for “Made in Chicago”, with 90 works hung for two months at the Mona Bismarck Foundation in Paris. .
“Since 2009 we have organized 140 exhibitions. We pay all costs, transport, insurance, etc. And on the other hand the receipts related to the entries remain with the museums, it is our way of helping them, in particular the small ones ” Rena di Sisto still observes. From time to time, a work from the collection is also auctioned for the benefit of an association or a charitable cause.
The bank, present in 35 countries, has a global sponsorship strategy, decided from the United States, and in no case “Depending on the tax advantages possible in such and such a place, an insignificant parameter in the decisions taken”, assures the bank. In addition to the plastic arts, Bank of America is also involved in performing arts, once again contributing to the influence of American artists: it has thus accompanied the international tours of the New York City Ballet through the Opéra Bastille and the Châtelet, or the Chicago Symphony Orchestra, notably at the Philharmonic in 2017 and again in January.
Many of the group’s 200,000 employees are engaged in skills-based sponsorship with 2 million hours of volunteering recorded in 2018. A good thing since the bank’s workforce in Paris will quadruple to around 400 by the end of the year. ‘year. In 2019, the company also increased the budget allocated to its philanthropic actions around the world, from 200 to 250 million dollars, for the benefit of more than 2,000 institutions.