Goldman Sachs Introduces Art Advisory in Asia
US banking giant Goldman Sachs is looking to capitalize on Asia’s art market by introducing advisory services for the passion asset.
Goldman Sachs’ private wealth management (PWM) division has rolled out art advisory services in Asia, according to an «SCMP» report. Starting last year, the American private bank began to support client needs in art across acquisitions, sales, management, taxation, philanthropy as well as succession and legacy planning. It also lends against art as collateral.
According to head of art advisory Monica Heslington, US clients rely on art advisors and specialized lawyers while those in Europe and Asia «trust their own judgement», resulting in a «significant opportunity for new collectors to learn best practices».
«From Goldman’s point of view, there’s no reason not to be here, offering these services to our clients,» Heslington added.
